re: major breakout in progress
I suspect the rise in price was because people had already heard that the the Profit for the year ending September 2006 had exceeded expectations.
The profit announced today was $39.5 million, which is comfortably higher than the forecast of $34 to $37 million. This is far higher than last year's result of $13.5 million.
It should be pointed out that they have already forecast a loss of $20 to $30 million for the next financial year though they claim they will remain cash flow positive. I get the impression that this company are fairly conservative with their estimates.
For the period 2006 - 2009 they are forecasting an average result of $40 million earnings per year. I would assume we would have to have some recovery from the drought for that to happen, but that should see the share price back above $14 again.
DYOR and read the annocements yourself ...
GNC Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
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