Great post - just one thing, a $10m revenue hit will not equate to a $10m OCF hit, maybe less than $1m based on EBITDA margins. Nevertheless OCF is going to be very poor for the full year.
I really dislike companies that hide profit downgrades in the form of broker presentations - something as material as that deserves it own release.
I also really dislike companies that at the front of the presentation tell us "What do we want you to take away from this presentation"; as if readers are too stupid to be able to form their own conclusions, and at the same time glossing over the fact that they have just disclosed a material revenue and profit downgrade.
As you say, cheeky.
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