Ann: Trading Update, page-3

A mildly disappointing update. The divergence between amalgam and other products seems to have increased*. This was a key investment thesis for SDI, i.e. that the declines in amalgam were masking the growth in aesthetics and whitening. It will be interesting to see if these sub sectors can keep growing, despite a small dip in whitening sales in the trading update. Maybe competition in South America will be worth watching as well. Any insights other posters have would be appreciated.

* Unfortunately the divergence increased primarily due to a greater fall in amalgam sales.