On the surface it appears a pretty disappointing result, and I will be very interested to see KEY's announcement on Tuesday to see how they put a positive spin on these numbers. It probably explains why they wanted to raise capital late last year. IMO, I have no doubt that Ken knew exactly what the numbers were going to be and was planning ahead.
I have also changed my sentiment from buy to hold, pending some real explaining from our management team on what these numbers actually mean, in terms of our next steps.
Given KEY's current approach to providing meaningful information to the market , I am not sure we will even see an announcement on Tuesday.
Cheers R
KEY Price at posting:
9.9¢ Sentiment: Hold Disclosure: Held