Aristocrat does it again
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- Indepth analysis of ASX listed shares
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The latest body-blow came on 27 May when the company announced a further profit downgrade. A loss of $32m-$37m is now forecast for the six months to 30 June 2003. And, contrary to comments made at the annual meeting a few weeks ago, the dividend will be cut. The stock has fallen a shocking 36% since issue 126/May 03 (Long Term Buy - $1.56).
Although the concerns we raised in that review remain, the price certainly looks compelling. We'll be taking another close look next issue with a view to upgrading the stock. Until then, it remains a LONG TERM BUY.
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