Welcome back Beagle.
Your expertise has been missed.
Printable View
Welcome back Beagle.
Your expertise has been missed.
https://www.nzherald.co.nz/business/...6BLGS32MATV6U/
Paywalled
Sobering read
Morgan Stanley have bought into ATM, now their holding back to over 5%.
From NZ Herald - Bortolussi, who has been n the job since January, said that when the board met over the weekend it had become clear that a downgrade was necessary.
I think that’s code for we knew things were bad at the half year but we were hoping like hell a miracle would happen and it would be all fixed by now. ...but alas it’s no better and we better fess up.
Not a good start for David ..lost some credibility ...like the Herald mentioned something about ‘defending the timing’
Gross margin = 50% so if we assume A2 IF of $44 a can (900g) = cost of $22 a can,
It can be seen that the $120m = 5.5m cans = 4.95m kgs = 4,950 tonnes down the drain.
A lot of cows went through a lot of effort to produce the milk to produce that 4.950 tonnes of IF!
BTW, I believe a can of IF has a shelf life of 1.5 years from date of production.