I don't see much negativity with the report. I have no issues with the management spending money on business related stuff as it is a growth company still. The market is over reacted and A2 has been in this situation a couple of times before.
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Craig off-loaded few volumes at open to shake up and the retails followed with that....compete over-reaction ....
The 9 million dollars in options going to one employee is a bit of a shock
The increased spend on marketing above expectation is the only reason that all projected metrics were not beaten, it's really that simple.
Current pre-market matching on ASX at A$14.90. Maybe this time it was the NZX's turn of overreacting?
Still a great company btw. Happy to hold.
https://www.fool.com.au/2019/08/21/a...th-in-fy-2019/
Excerpt : "According to a note out of Morgans, it was expecting the company to deliver EBITDA of NZ$431.3 million in FY 2019. Morgans was one of the most bullish brokers covering the company, with the market consensus estimate a little lower at NZ$420.6 million. As you can see above, a2 Milk Company has fallen a touch short of expectations."