Vaibhav Saharan

Event-Driven

<p>It's clearly been a disastrous morning for <a href="https://www.smartkarma.com/entities/5566" target="_blank" data-smartkarma-citation="entities:5566">Surfstitch Group Ltd</a> investors. The company filed a trading update with the ASX this morning that projected FY16 pro-forma EBITDA to be A$2-3m. Comparing against A$13.9 pro-forma EBITDA in 1H16, 2H16 stands to generate -A$11m, the company's first such loss since listing. [Pro-forma EBITDA adjusts for acquisition share based payments, inventory revaluation and one-time costs.]</p><p>Two factors cited for the expected loss: 1) Higher advertising and discounting…</p>

It's clearly been a disastrous morning for Surfstitch Group Ltd investors. The company filed a trading update with the ASX this morning that projected FY16 pro-forma EBITDA to be A$2-3m. Comparing against A$13.9 pro-forma EBITDA in 1H16, 2H16 stands to generate -A$11m, the company's first such loss since listing. [Pro-forma EBITDA adjusts for acquisition share based payments, inventory revaluation and one-time costs.]Two factors cited for the expected loss: 1) Higher advertising and discounting…

Surfstitch

Surfstitch Group: Perfect Storm