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Well I was right in thinking sales would be down 30% to 40% on prospective forecasts. This level of miss is incredible, and they are sticking by their FY16 forecasts.
In my opinion, they will be down 50%-70% on their FY16 forecasts.
If the market actually reacted to this information properly, the share price would be somewhere between 20c and 30c - I have a real issue with brokers bringing these crap companies to market. You have to wonder how much of the money that got invested was by way of broker-controlled kiwisaver or other managed funds.
Last edited by Xirr; 25-06-2015 at 12:30 PM.
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