Shares in the Mirvac property group have been put on a trading halt with speculation it will announce another profit downgrade.
Mirvac is expected to release forecasts of its 2005-2006 earnings later today.
The company cut its profit forecast in May due to a slow housing market.
Mirvac says in light of an article that appeared in this morning's Sydney Morning Herald that has since been widely reported in the electronic media, it has requested the ASX to halt trade in its shares.
Mirvac had planned to release its budgeted earnings guidance this Wednesday, but as a result of the newspaper article, will now release this information to the market later today.
Mirvac managing director Greg Paramor says he has had no contact with the journalist or the Sydney Morning Herald in relation to the coming budgeted earnings and says the article is inaccurate.
Shares in Mirvac last traded at $3.45 on Friday.
Source: ABC
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