Ann: Pre AGM Trading Update, page-3

Terrible announcement for shareholders, particularly so soon after 1HFY19 guidance was given at the $17m NPAT range.

We know full well that the first half is where TRS makes all of its profits and with fall sales this is likely to lead to a weakened 2HFY19.

Not a great look for shareholders, at all, particularly those that were using this for a dividend play. An outrageous capital erosion that is likely to not recover for some time.

Changing my sentiment from BUY to HOLD. I am just thankful my order never filled at $4.75.