Pretty much no growth in revenues or case volumes. The Indo numbers look good - but appears to be due to reduced costs, with the top line flat. I thought the growth plan there was meant to raise volumes within the growing middle class. They had a bit of a spurt in HY 2016, and now it is flat-lining. I suspect HQ will be putting pressure on to spend up big on marketing to try to raise market share. Suspect CCL will do better selling bubble teas there though.
CCL Price at posting:
$8.81 Sentiment: Sell Disclosure: Held
