https://www.asx.com.au/documents/rules/gn08_continuous_disclosure.pdf
Page 49.
"treat an expected variation in earnings compared to its published guidance equal to or great than 10% as material and presume that its guidance needs updating."
The ASX notes that each individual company is to be examined on a case-by-case basis. Such that, for smaller companies with smaller revenues, 10% difference may not be worth mentioning. For example, a company forecasting $10,000 and making $8,000. That is a difference of 20% but may not be considered material/worth disclosing.
However, when Norwood forecasted $281,000 and then only made $65,000, this is a difference of 332% and I have to imagine that most reasonable people would agree this would be worth updating the market about.
Also, NOR forecasted annual revenue of $3 million (quarterly of $750,000) from Affinion commencing in Q1 FY2018 (July-September 2017), and then made $0.0 due to the Affinion deal. I believe a lack of $3 million in annual revenue would surely constitute the need for a market announcement/correction.
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