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garth - Wed, 21 Dec 05 :

Sat69,

That would be a profits warning too - and again, they would have notified the market as soon as they knew.

Now we've all heard that well known phrase "What are you waiting for, Christmas?" or words to that effect. And when we use those words what we are in fact saying is "its taking you ages" Could it be that pbracken's telephone conversation is just such a case:

"it was established that the trading update would be issued at the beginning of the second week in January.

Why the delay, I asked.

Because last year there were special circumstances.

What special circumstances?

The trading update included a profits warning.

You mean, you had to inform the market as soon as you realised this?

Yes. Last year was unsual in this regard.
"


On such a reading, what becomes the subject of 'unusual' is not the fact of a warning itself, but rather the timing of it i.e. that it i s before. Previously its taken 'till after Christmas to realise.....

;0)

G.


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