REFS is
a mine of invaluable information for the private investor.
Selecting shares without its help is like trying to
clap with one hand tied behind your back.
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Number
of periods
Space is
allocated for five historic periods, plus two forecast periods
headed ‘E’ for ‘estimate’. If the most recent of the five historic
periods is headed ‘P’ this identifies a preliminary results
announcement as the source, prior to receipt of the annual report.
When columns for earlier periods are left blank, this is because
the relevant information is unavailable. Columns for one or
both forecast periods may also be left blank under certain circumstances,
for example when recently announced results supersede an existing
forecast, or when the consensus forecasts are invalidated by
a profit warning.
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