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The decrease is mainly due to the drop in MENA sales as a result of factor such as reduction in footfall due to COVID-19, value added tax and sugar tax which add pressure to price competitiveness.
Hi Fool, did you manage to ask what is their mitigation or strategy to overcome the drop it sales and the tax,? example, substitute the sugar with stevia. will that reduce the tax? and will the tax saving cover the stevia material cost?
