$4.75b would be disappointing - after sales growth of 40% and 44% in January & February respectively that would imply growth dropping to average 29% for the period March-June over the pcp. Since the currency this half is 6% lower than the pcp, such an outcome would indicate a more significant drop in sales in USD terms. Effectively USD sales growth dropping from 51% (FY22) to 28% (FY23). Still good but driven by a huge lift in marketing spend, and that is before an additional A$37m of marketing to be incurred with Ferrari in FY24.
