Pretty sure we were all expecting that result
Increasing market share to 9% in Aussy pretty impressive, a real lack of progress in UK,USA and China.
Maybe able to accept the China story and hold ups there, but the UK and USA results are way below the expectation the market had anticipated around the beginning of this year. Expectations unforfilled, result, downward pressure on SP. Someone knew that in March April this year or was there a concentration on the NZ/Occa FX cross rates?
Lesson to always be careful of is that success in one market does not automatically transfer to other markets.
Having said this A2 may be down in those markets but definately not out by any means. Good to see structures in place to further increase penetration...and all on cashflow.
Thanks for the heads up on your DCF model MAC. Its was always a longer term play, still is