Leemur,
You have forgotten the key issue here.....the forecast was provided in the prospectus based on previous and future estimates by directors for underlying earnings. To make matters worse, it was the first one as a publicly listed company - this does not augur well for the future regarding creditibility of management.
Didn't Lipa come out in November and indicate to the market that they were in line with Prosp forecasts?? If so, management have already dug a little hole for themselves.
My thoughts and generally the market has behaved in similar fashion! Can't blame the market for over-exuberant mangement!
Cheers Freakme
LIP
lipa pharmaceuticals limited
