My take on this is that cost rises are coming from a lower aud...

My take on this is that cost rises are coming from a lower aud plus higher oil price. Keep in mind petroleum products are a key input to while range of plastics which pgh uses in abundance. These price rises will be partially recaptured but reading the recent financials it would seem pgh can’t readily do this (they speak about a time lag). Pgh doesn’t strike me as super efficient so this present situation could be a chance for competitors to steal market share.

Anyway not saying it’s all doom and gloom. However with core business revenues flat (as per Goldmans report) the above does present challenges.