Ann: Trading Halt-SRF.AX, page-13

THEY CONFESSED IN MAY!

I seriously can't believe the manipulation going on... They've been driving this share price lower and lower, and to have THREE earnings downgrades in a 6 month period is just ludicrous. They clearly don't know their business and can't forecast more than 30 days in advance - OR - there is something sinister and deliberate going on, and Cameron has known all along and has cut some kind of deal to buy the business back...

The late start to winter should have nothing to do with their business - they sell summer and winter clothes - and they also make 60% of their revenue overseas, with different weather patterns all over the world. They have an non-seasonal business model (one would hope...) and they also have numerous other products. If anything, the warmer Australian weather would mean a longer surf season...

The odds of their being a 'positive' EBIT update are very small. No company I know of has gone into trading halt for a earnings increase.

And yes, the only reason I invested in this continual dissapointment is due to their lack of debt. SGH, ARI and DSH were all punished by their lenders. SRF has no lenders, so in the end they will be much better off.