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Analyst Research Report Snapshot


ASM trading update – disappointing




First NZ Capital Holdings Limited


20 Nov 2013





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As part of its 20 November ASM trading update, PPL noted that, following on from difficult trading conditions during FY13, there has been no reprieve from these challenging conditions during the past few months. All markets remain very promotionally driven and PPL remains cautious heading into the key holiday sales period. In addition, the failure of two of PPL’s suppliers, not to mention major flooding in a key supply chain region in China, has impacted the delivery of key inventory categories. This is clearly not ideal in the lead up into the key Christmas period.

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