Ann: Camperdown obtains GACC (formerly CNCA) extension, page-23

Market up 0.3% and BAL down 2.4%. Can anyone see the pattern?

BAL announces it can continue to manufacture IF, market doesn't care.

BAL should have a sales increase but a EBIT margin decrease.  EBIT margin will be favorably impacted by FX.

Announcing sales now would assist with limiting the pain come Feb19 announcement.  Sales show market share and it is important the market is confident with BAL's future, which currently is trash according to the market.

Tomorrow will let us know how significant the Camperdown facility is.  So far, no one cares.  This news was considered a negative outcome.  Despite my negativity, I believe it was a positive announcement, but Mr Market knows better.