GLB 0.00% $1.26 globe international limited

Blood in the streets

  1. 1,507 Posts.
    What's the chart look like?
    Was this a dot com once? If not it will join them at the bottom of the heap.

    What's this announcement mean? We warned you?

    Throw the parachutes out now, while you still have some distance between your feet and the ground.




    GLOBE INTERNATIONAL LIMITED 2002-10-25 ASX-SIGNAL-G

    HOMEX - Melbourne

    +++++++++++++++++++++++++
    The Board of Globe International Limited issues the following
    earnings guidance to the market.

    Recent trading conditions have revealed that several factors have
    adversely affected the company's performance more than was
    anticipated. These factors include:

    * Difficult market conditions in Australia and the USA.
    * Lower than forecast orders in footwear by some retailers.
    * A strike in the Los Angeles port.
    * An apparent shift in market demand to lower priced items in some
    product categories.

    It is difficult to assess the impact of some of these issues at this
    time. The company will outline strategies relating to these and other
    matters at its Annual General Meeting to be held on 31 October 2002.

    The company expects to achieve pre amortisation earnings per share
    for the first half of the financial year in the range of 1.7 cents
    per share to 2.2 cents per share.

    Historically Globe's earnings significantly strengthen in the second
    half of the financial year. The company expects to substantially
    improve these earnings per share figures referred to above in the
    second half.

    For more information, please contact:

    Michael Sonand
    CFO & COMPANY SECRETARY
    Ph: +613 867 1772
 
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No. Vol. Price($)
1 516 $1.26
 

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