Gross margin for the US business in FY2018 is expected to be around A$3.70/MWh relative to the A$4.50/MWh previously indicated, and about A$3.30/MWh in FY2019.
From A4.50/MWh to A$3.70/MWh------------>18% downgrade
From A4.50/MWh to A$3.30/MWh------------>27% worse
Ann: Australian Business Outlook Affirmed and US Outlook Updated, page-11
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