I find their announcement policy confusing. It’s possible they...

I find their announcement policy confusing. It’s possible they won’t announce anything at all - even if the results are published in the trade section of their website (assuming the results are not judged to be price sensitive). Maybe they don’t want to get into a situation where the business is judged by the market solely in terms of the latest auction result? That’s all very well, but the auctions account for a high proportion of their annual results, and so inevitably the market can only make rational decisions if it’s aware of the results on the same basis as traders.