Good Write Up From The Boat Fund - Mar Qtrly, page-8

I agree with you, aend003.

I suspect that management can't get a good read of how the national advertising spend will end up doing for the rest of the year so hesitant to provide an earnings guidance. If true, this is terrible reason for not giving an update on how the business is tracking given that half the year has passed. Management has a fiduciary duty to inform shareholders of the business performance and to ensure that the share price reflects current information.

This lack of transparency is disappointing in an otherwise good story.

http://chasingvalue.com.au/