For anyone who is uncertain about when a financial year ends in Australia is 30th June.
Why 30th June? That is when a company measures its profits or losses and is supposed to lodge a tax return for that year.
Not some arbitrary point.
So just to dumb it down, if a company made a profit in year 1 and in the last year they made a loss, they report it has a Loss for the last financial year and face the board. They do not come to the board and shareholder meetings saying hey presto you are picking years. Look what we did in year 1, why are you picking on us this year?
Get the drift?
NEA Price at posting:
$1.90 Sentiment: Sell Disclosure: Not Held
