Quiet Times, page-7

So much for "quiet times". After today, I think I prefer the quiet times!
Is this guidance update really as bad as the market reaction today indicates?
The 10% drop in revenue was disappointing but BPF seem pretty upbeat that the second half of 2017 FY will see a return to strong profitability as indicated by these comments:
"... we believe the Company is well positioned for growth in both the top and bottom lines in future periods" CEO Anthony Woodward.
and
"Some of these delayed projects are expected to deliver strongly in the second half of FY17, resulting in seasonally higher revenue and underlying profitability for the half."
Not all doom and gloom I would have thought.
An overreaction by the market perhaps?