What caused Judo Bank to abruptly confess to lower-than-expected growth in the middle of the day on Thursday? Perhaps it was the business bank’s chief financial officer Andrew Leslie, who may have given too much away at a UBS small-caps presentation to a handful of investors two days earlier.
Leslie’s presentation, made at the Swiss investment bank’s offices in Melbourne on Tuesday, had hinted at a softening in Judo’s earnings conditions, foreshadowing – at least to some in the room – an earnings downgrade.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
