Azure's misleading disclosure

The clinical workflow company’s market update today lacks the required details to assess its full-year profit potential.

Azure Healthcare (AZV) has this afternoon given an update to profit expectations for the first half of 2014-15. I must say from the outset that it is potentially the worst attempt of market disclosure I have seen.

Management stated: “The Company wishes to advise that it anticipates a net profit after tax for the 6 months ended 31 December 2014 in the range of $0.8 to $1.2 million compared to NPAT of $2.17 million for the previous corresponding period.”

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