1)VBA has long know the profit forecast given by Brett G in Feb (half year presentation) is bullshit. and what the real number is, so they first announce 3 weeks ago a smaller reduction, so institution or friends can get out, and then announce another one (the real one). Do you really believe 3 weeks operation can change profits by so much. Has the earth by attacked by Aliens in the last 3 weeks, and all planes are grounded. Even if you don't fly at all for 3 weeks, you wouldn't reduce your profit by $40m.
2) Maybe the real one has not come out yet. Given their track record, what's stopping them come out again in another 3 weeks :Hey guys, actually we have make a loss of 20-40m this year instead of previous forecast of $20-$40m.
Some of my thoughts: They might have suffer huge losses on AUD/USD derivative trading. Remember everyone is chatting for AUD:USD = 1:1 just a few month back.
VBA Price at posting:
31.0¢ Sentiment: None Disclosure: Held
