One recent example regarding NPAT forecasts which I'm sure is on the AXL board's mind is Retail Food Group (RFG):
- on the 7th of December they reaffirmed 6% underlying NPAT growth for full year FY18
- on the 19th of December they announced that H1 NPAT would be about 33% below the previous H1
- the ASX then issued them with an aware letter asking them whether they were aware of the downgrade when they made the 7 December announcement
- RFG then tried to wiggle out of it by saying that 7 December was about the full year, and 19 December was about the 1st half.
On 9 January they announced that H1 NPAT would be "less" than the 19 December announcement.
On 2 March, the actual "underlying" H1 NPAT came in about where they said on 19 December, and when they reported full year, underlying NPAT was down 60% rather than up 6%.
AXL Price at posting:
$1.63 Sentiment: None Disclosure: Not Held
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