ck, page-15

I see the update as a 'reiterate' rather than 'upgrade'.
Not too worried about Korea, the big ticket item is COGS, $70-$80m, and I was hoping that the recent drop in oil, sugar would have started to make an impact, and together with the price increases they are winning, to claw back a fair chunk of it already.

Perhaps it will take another 6 months before CCL takes off. But then again, like me and you, the market also tries to anticipate the timing of this.