be careful

bnb today affirmed NPAT guidance of at least $750m this year.

but if you read phil's speech closely, it says all of that growth will be achieved in the second half following write downs etc in the first half.

i remain very sceptical of companies that do this. abs said the same thing after its s hit first half performance, only to downgrade the second half.

imo bnb is in trouble this year.