Unfortunately people aren't realizing the significant marketing costs going forward to maintain market share in a competitive environment. If you don't have the huge margins and scale like A2M, then it squeezes profits further. This will be even more the case once they get SAMR when they will they have a ground battle at the MBS stores and need significant marketing spend to beat out competitors.
News: BAL Bellamy's Australia first-half profit falls on China woes, page-15
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