Rules are rules - and best to conform to them if you might get caught
Quote:
Originally Posted by
1leon
But is an an upgrade really warranted? Previous indication $90-$95m new $97--surely coming in, if it does, at $97m is pretty close to range up to $95m. Are we really now going to see upgrades for companies for the sake of $2m?
If they gave guidance of $90-95M then they have to update the market if they know that the result is likely to be outside that range.
Best Wishes
Paper Tiger
Not sure that I see the problem
Ok before you had $92.5M +/-2.5M and now you have $97M +/- (say) $2M
You sure would want to know if went to approximately $88M, would you not?
So go with it, share and enjoy.
Best Wishes
Paper Tiger
Your so vain - I bet you think this post is about you
Quote:
Originally Posted by
1leon
Frankly no. I have never made any decision based on a 2% movement in profit up or down. If approximately $88m encompasses $90m we are no further ahead. Add to that currency movement has been a big factor in FPH results, or lack of result, over many years.
To put my final word in on the need for this profit upgrade announcement.
There are NZX rules with guidance notes that FPH has to follow (the rules bit) and this is one of those circumstances (see Section 10 of the rules and the Continuous Disclosure Guidance Note).
I have checked, and there is no waiver even in circumstances where one of their shareholders has a poor grasp of arithmetic.
Best Wishes
Paper Tiger