Two additional takeaways arising from the Harbour analysis;
1.)
"We also note that the inventory ‘in transit’ was $30.6mn higher at balance date than last year. We do not know the timing of this but assume it would have been converted to revenue soon after the fiscal year ended. Had this shipment been booked in late 2H19 as opposed to early in 1H20, a2 Milk would have comfortably met the earnings expectations in the market."
2.) The next update from the Company will be at its Strategy Day in Shanghai, China on 17th -18th Sept-2019, where we look for more detail on A2M’s investment in capability and insights on its consumers in China."
Interesting times ahead for A2 and mark Sept 17th - 18th in your diary.
To see the Harbour report.....
read it here.