ref tumbling on fri trade - insiders selling??, page-2

No.

Tumbling is not the word that comes to mind when I look at the chart.

I would be surprised if they downgraded further.
Conditions in the UK have stabilised and are slowly starting to pick-up.

The previous forecast would've been made when things were worse, so they probably considered their current run rate and made a conservative forecast at the time.

We won't see an upturn in earnings yet, but I reckon it will be on the cards in the second half.