The revised “Good Drinks” strategy unveiled at last week’s AGM provided a much needed update following changes to the business over the last few years. The yardsticks under the 2016 “Return to Craft” strategy were increasingly inapplicable, and we welcome the refresh and rationale behind the new targets. Establishing and promoting brands is a costly business, previously underestimated, and the key for GRB will be converting these costs today into sales and earnings performance tomorrow. We maintain a BUY call on a revised target price of $0.11 (prior $0.12).
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