I am bemused by the market reaction to the release of the Annual Report. The financials are all the same as previously announced but the SP drops by nearly 6%. The only item that caught my eye was that they have backed off in Australia and that their revenue in Australia actually declined. I cannot remember if that was previously indicated or not.
Current initiatives to increase margin with other products following big increase in turnover with low margin milk powders is good.
It was interesting seeing the staff photo. Apart from Connor English, all are Chinese apart from one other. No doubt Mandarin is an essential requirement with this company. Staff numbers at 32 are lower than I would have thought for a logistics company with this amount of revenue. Some automation is applied and I guess a lot of the handling is done by other parties.