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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Outlook
The text
of any statement (e.g. the Chairman’s review) provided by the
company within the last annual report, and within any subsequent
statements (e.g. trading statement, or interim or preliminary
announcement), is scanned to abstract any remarks which allude
to the company’s trading prospects.
Each
outlook statement is preceded by the date and source. ‘(4-Jun-96)
Prelim: ch’, for example, indicates remarks by the chairman
(ch) from the preliminary results announcement (Prelim) dated
4th June 1996. In the absence of any such remarks, the words
‘no outlook statement’ appear instead.
Outlook
statements are shown in chronological order, and are retained
until superseded by the latest annual report. Space constraints
dictate that outlook statements are sometimes abbreviated, and
may consist of two or more elements separated by ‘...’ where
appropriate.
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