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GILES RAFFERTY, Corporate Communications and Media Advisor It was in early May of 2023 that the World health organization announced Covid-19 was no longer a global health emergency. We are, however, still working through the economic disruption caused by COVID, compounded by other significant geo-political events, such as the ongoing war in Ukraine, which has helped to […]
VICTORIA GEDDES, Executive Director Over the past four months we have monitored companies in the ASX 300 Index reporting their full year results. Around 70% of companies in the S&P/ASX 300 index released their results for FY23 during August 2023. Companies return to providing guidance The majority of companies (81%) reporting their full year results this year […]
ROWAN CLARKE, Investor Relations Companies with a June year-end are entering a busy time, as they prepare to report their full year earnings. In parallel, the market is constantly forming a view of what those earnings will be. Consequently, there may be a need for a company to take action if the market’s expectations of […]
GILES RAFFERTY, Corporate Communications and Media US founding father, Benjamin Franklin, said “nothing is certain except death and taxes”. Had he been in a more expansive mood he may have included ‘change’ as another certainty. 2022 has been a year of change. We welcomed Queen Elizabeth’s Platinum Jubilee and mourned her passing. We celebrated the […]
SALONI SURI, Shareholder Analytics During August we monitored companies in the ASX300 Index that reported for the period ending 30 June 2022 (FY22). Around 80% of companies in the S&P/ASX 300 index released their results during August 2022, with large companies particularly well represented. This enabled us to build a representative picture of the approach […]
DAN JONES, MANAGER SHAREHOLDER ANALYTICS In April 2020, we wrote that more than 80% of companies withdrew their FY20 guidance amid uncertainty surrounding COVID-19. During the February 2021 earnings season, we recommenced monitoring the results of S&P/ASX300 companies to establish to what extent the provision of guidance has been re-adopted and how companies are viewing […]
Ben Rebbeck, Founding Director Recently, the ASX announced updates to Guidance Note 8 on continuous disclosure requirements in relation to earnings guidance. While the ASX retained the framework of its existing guidance in the update, its changes to Guidance Note 8 include a new ‘15% Rule’ regarding the impact of broker consensus earnings on guidance and earnings […]
2020 was a year filled with extreme and extraordinary events. All of which played out in the context of the extraordinary global health crisis that is the Coronavirus pandemic. A year of extremes Here in Australia we endured bush fire disasters, the death of the Holden car brand and the tragedy of SAS war crimes […]
VICTORIA GEDDES, Executive Director. As the market braces for an avalanche of IPOs to hit the market in the December quarter, it is time to review our playbook for IPO investor relations, to highlight just what it takes to maximise the chances of a successful life after listing. Here are our top 10 Investor Relations tips […]
VICTORIA GEDDES, Executive Director. ASX Compliance Updates with some reminders on Disclosure Rules on Earnings Guidance Since the end of February 2020, ASX has released three key Compliance Updates (28 February, 31 March and 22 April) which include a raft of amendments or reminders, prompted in the main by the challenges associated with the impact […]
VICTORIA GEDDES, Executive Director Guidance and outlook statements, freshly minted from the February reporting season, are already being consigned to the waste paper basket. This makes sense when every week brings a new development that has the potential to threaten the very survival of many businesses. So what do you say to your shareholders when […]
DAN JONES, MANAGER SHAREHOLDER ANALYTICS During August we monitored companies in the S&P/ASX300 Index that reported for the period ending 30 June 2019, building a picture of the approach to guidance in this market and what that guidance is telling us about outlook for FY20. Victoria Geddes, Co-founding Executive Director at FIRST Advisers said “If […]
DAN JONES, MANAGER SHAREHOLDER ANALYTICS During February we monitored companies in the S&P/ASX300 Index that reported for the period ending 31 December 2018, building a picture of the approach to guidance in this market and what that guidance is telling us about outlook for FY19. Around three quarters of companies within the S&P/ASX 300 index […]
We entered the last reporting season in August 2018 with a high degree of optimism. That optimism was very short-lived as markets experienced a sharp sell-off in August, with actual results falling short of previous forecasts. Subsequently, news headlines have kept investors in a pessimistic mood, examples being the ongoing Brexit uncertainty and the ever-present […]
It is important for a company to select an appropriate day when presenting its financial results. With so many companies competing for attention from buy-side, sell-side and financial media, the correct timing of a result can be very important, especially for smaller companies. Understanding where the peaks and troughs are during a reporting season can help […]
Dan Jones, Manager Shareholder Analytics During August we monitored all companies in the S&P/ASX300 Index that reported for the period ending 30 June 2018, building a picture of the approach to guidance in this market and what that guidance is telling us about outlook. Almost 250 companies within the S&P/ASX 300 index gave their results […]
Ben Rebbeck, Executive Director As we enter the 2018 results reporting season, earnings and operational guidance again becomes a topic of significant concern. Recently in the US, industry leaders including Warren Buffett and Jamie Dimon joined the debate arguing that public companies should reduce or eliminate the practice of estimating quarterly earnings (EPS), as this […]
Dan Jones, Shareholder Analytics and IR During February we monitored all companies in the S&P/ASX300 Index that reported for the period ending 31 December 2017, building a picture of the approach to guidance in this market and what that guidance is telling us about the outlook for FY2018. There were 214 companies within the S&P/ASX […]
As a precursor to monitoring how companies provide guidance for FY18, we have been tracking Trading Updates for FY17 that were released during July by ASX300 companies (only 4%). The take-outs are as follows: 42% provided an upgrade from their previous guidance with the price performance experiencing a similar upward trend 33% of the companies […]
NIRI Annual Conference 2017 Ben Rebbeck, Executive Director On 4 June 2017, the National Investor Relations Institute (NIRI) Annual Conference got underway in Orlando, Florida. This Conference brings together over one thousand of the world’s thought leaders and senior professionals in Investor Relations and it is one that we have been attending religiously for the past […]
Ben Rebbeck, Executive Director If there is one consistent thing the financial markets are saying about Brexit, it’s that there are uncertain times ahead for every major economy – and by extension, for the prospects and financial performance of every major company. When uncertainty reigns, we often hear management or Boards describe disclosure and guidance […]
Philippa Ellis, Corporate Governance & Company Secretarial ASX Guidance Note 8 Continuous Disclosure (GN8), which expands the guidance on earnings surprises, publication of analyst forecasts and consensus estimates, and investor briefings, comes into force today (July 1). The ASX released its consultation paper outlining its proposed changes to GN8 in March 2015. On June 22 […]
The new ASX guidelines may discourage companies from making earnings predictions public The proposed changes to the guidelines for listed companies on their continuous disclosure obligations (ASX Guidance Note 8) will provide greater clarity and a more pragmatic approach for companies that find themselves facing a sudden change in their profit expectations and want to […]
The Australian Securities and Investments Commission is revisiting its guidelines around collective action by institutional investors and calling for public comment. This has become a hotter topic in the past few years with the increasing assertiveness of activist shareholders and recognition that collective action by investors can be good for financial markets.