PSI incentive income reduced almost 40-45% in FY26 which seems to have affected EBITDA Margins. Why isnt adjusted margins tracked then…Milk prices increased almost 13-15% over last 5 quarters, yet Gross Margins remain steady which i believe is an appreciable factor. However, higher employee costs as they build their team, ad spending + lower incentive income which goes into reported EBITDA Margins all played out…Margins seem to have impacted adjusted for incentive income…Isnt that a great thing…given the cycle…
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