It looks like a standard announcement guiding consensus downwards. According to my numbers consensus for FY21 EBITDA is $72.0m, so $58-$63m is downward guidance. Of course, in April no FY guidance was given, so we'll have to see the extent to which the SP which is 36% below consensus target already reflects this. Based on my reading there should not be a major SP movement, as the news is already in the SP. But the market doesn't always react rationally to news. This may present a buying opportunity to anyone who is looking to get in.
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- Ann: May 2021 Business Update
Ann: May 2021 Business Update, page-7
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