Hi Andy, thanks for your post. I guess that majority of sales in BAL or A2m in Aus market are bought for Chinese mid-class customers. So the sales figure for aus and nz market does NOT speak the 100% truth of the portion of domestic sales. I believe you are quite wrong about this point. There is nothing wrong with focus on Asia market, China is just one of them.
on one hand, UK is not smart choice for a2 to step in the first place. A2 hava made lots of marketing investment in UK with little gain. one the other hand, the sales is looking good is US market recorded in FY2015 report.
compared with both firm, the SP of a2m is just more A Derisked stock to invest.
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