Generally a very good result having found the time to read the report from cover to cover.
Exceptional revenue growth, that’s the key thing for a2MC on a growth curve, agree with NZSilver that earnings will come later, sacrificing earnings for growth is all important for now.
No surprises in regard to progress in the UK and China, both markets now setup very well to go ahead from this point. Interesting to hear that ATM are the largest fresh milk exporter to China, let’s see if they can consolidate that position, absolutely a huge potential with that market.
And, let’s see how many Australian insto’s and funds come to the NZX now with a cheque book, with view to taking home a holding in ATM. The companies that have benefited in the past from a dual listing are the ones with a large Australian segment operations.
Harbour today anticipate the AUD to fall away to sub 90 in the medium term, which may stabilise or even add a tailwind for ATM now also.
http://www.harbourasset.co.nz/wp-con...Question-2.pdf