why the sell off looks cheap

sold down after this announcement on 7 june


Sydney - Tuesday - June 7: (RWE Australian Business News) -
Tomato Technologies Ltd (TMO) today announced an operating profit of
$5.6 million for the nine months to March, up 2 per cent from $5.5
million in the previous corresponding period.
Revenue was up 4 per cent to $21.2 million from $20.3 million.
The board has resolved to continue its practice of paying
quarterly dividends.
The dividend against March quarter earnings will be 0.75c a
share, payable on June 30 to shareholders registered June 17.
This brings year-to-date dividend payments to 3.25c a share.
The lower dividend than previously paid out was due to lower
sales generated out of Tomato's UK operations.
However, the board expects the June quarter dividend to be
higher.

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Chief executive Mr Craig Duffy said the March quarter had been a
mixture of outcomes.
"It is very pleasing to be able to report that the revenue from
North American sales in the March quarter versus the December quarter
increased by 18 per cent," he said.
"It is also pleasing to see the continued solid performance of
the Australian operation despite the softness in the retail sector and
sharemarket more generally over this period," Mr Duffy said.
"The disappointment for the quarter is reflected in a softer
sales outcome for the UK operation, which accounts for the
lower-than-anticipated profit result.
"Unfortunately, a revised marketing program in the March quarter
was not as effective as expected and therefore did not generate the
anticipated results in the UK.
"A new marketing campaign is currently being implemented for the
later half of the June quarter through marketing strategies more
reflective of previous successful campaigns.
"The anticipated improved results however, are not expected to
be achieved until the first quarter of the new financial year," he said.
The announcement was made after trading closed.
Tomato shares fell 2c to 62.5c today.