RCR rincon resources limited

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Good post. Yup.... this SP started sliding straight after AGM....

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18/02/16

14:41

Post #: 17054607
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Originally posted by Downanout ↑

What the hell happened to continuous disclosure?
Did they only just discover that their first half was this lousy?

Judging by the SP action since last Nov the information was getting out to some market participants from then on.

The quote below is from the address to the AGM on 6 Nov 2015, and as far as I can see, there has not been a peep since then.

"However, with infrastructure spending expected to gain momentum in the second half of this financial year we expect our revenues to remain flat for the first half and earnings to have a bias towards the second half of FY16."

If revenue down 12% on the PCP is "flat", then what would constitute a fall?

With circa 7 cents EPS (underlying) for the first half, they will certainly need the mother of all earnings bias to get anywhere near the analyst's EPS forecast of 27.5 cents for the full year.
Don't they know they are supposed to tell the market WTF is going on, even when it is not favourable.

Notwithstanding the price decline since Nov, the share price drop says that this was still a big surprise.
Did they think it would just pass unnoticed?

Who knows, the next thing might be that the company gets saddled with the distraction and cost of a class action.
@#%$ Brilliant!

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Good post. Yup.... this SP started sliding straight after AGM. Perhaps some questions from the floor revealed stuff. With the AGM held so late most of 1HFY16 was completed so this report no way near matches what holders were led to believe. A class action may be plausible which will be final straw. Holders entitled to feel misled/gutted. I'd be contacting firm direct and expressing my feelings.

RCR Price at posting: $1.27 Sentiment: None Disclosure: Not Held
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Good post. Yup.... this SP started sliding straight after AGM....

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Good post. Yup.... this SP started sliding straight after AGM....

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Orthocell sees 4% jump as Remplir used in first US surgery. But is that low?

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Week 26 Wrap: Renewable gas fantasies; RBA July cut hope builds; copper's August peak?

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