Smart money?
You do realise that they will issue a 'profit warning' at the Annual Meeting. They stated in the last investor presentation that H1 13/14 NPAT will be 15% higher than HI 12/13. In AGI terms this means that, after a couple of 'profit warnings' we will end up with NPAT way above a 15% increase. Just read through their statements over the last few years and you will see the pattern. It is almost like a game for them; e.g., Update 1 - we will earn 25m this half year; update 2 - No, we will actually earn 30m; update 3 - scratch that we will earn 34m and so on.
volatility, page-4
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