SWL: CEO resigned on the 18th of this month, shareholder confidence dropped and price is down almost 20%, speculation that resignation may be due to pressures from poor financial performance and earnings for FY15 were expected to be poor. Ann. released yesterday afternoon assuring good outlook:
"Forecast full year earnings for FY15 remains within guidance, as previously advised to the market on 24 February 2015. Forecast Net Profit After Tax (NPAT) remains in the range of $8 million to $11 million, anticipated to be in the lower half of this range"
“I reaffirm that the health and strength of the business is good, with a very strong cash position.”
I haven't done extensive research on this company so obviously DYOR.
Day Trading May 27 - Morning, page-40
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