Wellard herds into further downgrade
On Thursday, live animal exporter Wellard (ASX: WLD) issued an update in connection with its second profit warning in six months, which was announced last week. The company said it now expects its forecast pro forma full yearly net profit after tax to be around the bottom of the $23.5 million to $30 million range advised in its most recent update. Shares in Wellard closed down 20% for the week and are down 72% since the IPO six months ago. We do not own Wellard in the investment portfolio.
Wilson Asset Management has a track record of making a difference for shareholders and the community for more than 20 years. As the investment manager for eight leading LICs – WAM Capital (ASX: WAM), WAM Leaders (ASX: WLE), WAM Global (ASX: WGB),...