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  "documentTitle": "Caesarstone Ltd. (CSTE)",
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  "notes": "The author uses the table to cast doubt on management's narrative regarding volume growth by pointing to forex impacts.",
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      "text": "We question the implication that volume has offset an 18% move in forex.",
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      "text": "revenue: 40%",
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      "text": "Canada and Australia make up approximately 40% of CSTE's revenue, or c. $215m. This end figure was negatively impacted by forex movement to the tune of ~ 18%. We question the implication that volume has offset an 18% move in forex.",
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      "text": "Figure 17 – Segment revenue",
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      "kind": "title",
      "text": "Unfavourable movements to the AUD & CAD?",
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