AOE 0.00% $4.68 arrow energy limited

innacurate reporting sends arrow lower

  1. 389 Posts.
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    Arrow came out of the blocks strongly yesterday morning, probably in anticipation of a good half yearly. When released it rose even more, then suddenly it fell out of bed & ended well down on the day.
    Well now we know why;
    It appears market response was driven by a DJ headline that said “Arrow profit drops from $14.5m to $14.2m” which carefully neglected to mention that Arrow had a $15m special item last time and that the actual number was negative and hence a $15m improvement this time. Later in the day, DJ came out with the same headline but some explanation way down in the text! I assume the company contacted them & advised their error. But typical for the media NOT being prepared to admit how stupid they were (a simple reading of the accounts, which I did, would have shown the correct situation.

    Excellent half yearly, with the power station deal on top. Only change to this great story are positive changes for the better.
    Market can get it wrong sometimes, particularly when being led by blind & stupid sheep.

    Cheers,

    Ned, happily holding all mine, with AOE still my #1 $holding.

    PS
    Great to see EWC start to get some recognition. Stay tuned, ann due that may give it a further decent boost. It’s indicated in market report of Feb.4, which in turn is mentioned in speeding ticket reply. PLENTY more in this one.
    Energy & Resources, the places to be.
 
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