Guys
I have a friend who works for a very large investor investing full time on a professional basis. He says the company is at fault here. His reasoning is that by not giving a range for guidance for revenue and NPAT and earnings they set the company up for the professionals to set a consensus a little high. The consensus in fact becomes and replaces guidance, and then they short the company after the result just misses like today. In fact the company thinks it has more flexibility viz a viz the market by not giving guidance when in fact it has less.
If you think there is merit in this write to the company. I for one think he is right we would all be better off with range guidance. It might explain the short game we are always enduring.
Nzx full year results, page-177
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