How have they "culled their guidance", Chubbito? The only...

How have they "culled their guidance", Chubbito? The only guidance i'm aware of them giving was in relation to 1HFY13 - at their most recent AGM, they forecast 1HFY13 EBITDA growth of 10% on pcp, and it turns out they delivered that to near perfect accuracy today (pcp EBITDA growth was actually 10.1% rather than 10%, so they actually outperformed management guidance provided at the AGM by 0.1%).

As i've said, i think it's more a case of two things:
1) The share price had run very hard in the last 6 months, and i suspect investors were expecting significant OUTperformance of the guidance rather than just simply hitting it. When you're trading on a forward EBITDA multiple in the teens (as they were at $7+), huge growth is required to justify the trade price.
2) They've spelled out that the Keurig deal won't be as lucrative going forward. As i've said, on its own it's not such a big deal ($20m in the context of a $500m business), but perhaps there are broader implications for the business, i.e. other distributors of BRG products may also look to renegotiate distribution agreements (using the Keurig deal as a precedent) which could impact margins of BRG going forward.

I'll hopefully get a chance to look at this a bit more closely in the next few days.