serious crash and burn, page-3

Fin Review (last week) said that the fall in the share price was started when Deutsche issued a report that sales at SFH in January and February were down approx. (from memory) 2.5 and 3% on a like for like basis.

I guess most of this is down to the removal of the stimulus payments by chairman Rudd. Last year we were expecting earnings of 2 cps for the corresponding half year and instead we got 3.6 cps. I think that we'll head back to somewhere around the 2 cps mark for this half year. Add that to the 14 cps already earned and that'll give us 16 cps. In fact given the pruning of underperforming stores, cost cutting and lack of new stores in the last 12 months it may edge higher.

Seems the market is expecting something a lot worse than I am judging by the share price.