re: another ripper of a float - gets better Management must read...

re: another ripper of a float - gets better Management must read HC for they have just issued a very poorly worded, convalutent announcement saying in essence that:

(a) second half will be flat

(b) Dec half result will therefore be that for the year to June 2003.

Again, I make the point - 3 months into the trading year a company hits the boards forecasting a NPAT of $6.4 mio. YET, just 4 months later management now say they are forecasting a loss of $6.4 mio, on revenues 50% of forecast.

Makes a mockery of the continuous disclosure rules.