Maybe this has something to do with the recent poor share price performance (lol!)...... think about it!! Tax loss selling and some common sense could have told you this!!
Read below if you haven't already..... if you haven't read this before, time for you to exit this stock IMHO.
24 May 2006
TRADING UPDATE
Frigrite Limited, a leading Australian refrigeration systems group, today provided an update of its financial forecast for the year ending 30 June 2006. Based on trading to the end of April 2006 and a review of anticipated volumes in May and June, the company now expects a full year EBIT of between $8.0m and $8.2m and earnings per share (EPS) of between 10.7 cents and 11.0 cents. These compare to the previous guidance, issued on 22 February 2006, of EBIT of $9.4m and EPS of 12.9 cents.
Moreover, the company has been unable to achieve expected margins in its refrigeration service business. The company continues to focus on margin improvements and sales growth in this area. Mr John Carew, Frigrite’s Managing Director, said:
“Whilst it is disappointing that changes to Coles Supermarkets’ capital works programme have resulted in lower than anticipated demand over the concluding months of the 2006 financial year, our relationship with this key customer remains strong.”
Cheers Freakme
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