RE: Debt level12 Jul 2023 11:49
Im no expert but ... I imagine A.production cost with previous 6 month fuel ( mini ) crisis ! Exacerbated by problems at previous plant which probably resulted in inventory depletion, partly necessary and partly deliberate as the new plant's efficiency meant replenishing inventory ( except bare minimum ) from old plants would have been wasteful and a lil bit stupid. So run down inventory and use old plants at bare minimum and now take advantage of new plant to replenish at much lower cost.
Added to reduction in demand as builders used their inventory rather than buy at a premium hoping that fuel costs would stabilize.
I would expect a much better quarter going forward and if inflation drops even better, my bias is im already in and content to be so, not in the wings hoping to catch the bottom :) but as always wtfdik etc gla