I agree with forward looking market. The market would have taken...

I agree with forward looking market. The market would have taken the HY and forecast FY guidance as basically being the 4th downgrade. I would say management took the opportunity to update and revise the FY guidance during the HY result as a way of getting the so called 'skeletons' out of the cupboard.
The SP currently takes into account the revised FY lower end of guidance. The SP didn't drop based on beating HY guidance, it dropped based on the FY guidance being forecast at the lower end of the previously announced range.
(It wasnt exactly a 4th downgrade as its still within the original FY guidance range, but thats how the market took it and responded accordingly).