XII Results Bearish
NUMERAL LIMITED - CANCELLATION OF S524306 Updated Short Form SENS Announcement _Summary of the Audited Financial Statements for the year ended 28 February 26
Numeral Limited
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What this filing means
Revenue more than doubled but earnings per share halved: Numeral's audited results show a severe quality disconnect that the short-form announcement does not explain. Operating profit rose only 13% against 126% revenue growth, and headline EPS fell 47% to 0.0643 against a restated prior-year base, with the drivers of that collapse left entirely opaque. The share had already been drifting lower into the print, so the result is not a total shock — but it removes the ambiguity the bears were waiti…
Bull case
- Revenue more than doubled, rising 126% to USD 2,199,918 from USD 974,816, demonstrating genuine top-line scaling of the underlying business.
- Operating profit grew 13% to USD 180,283, indicating the revenue expansion translated into incremental absolute earnings despite margin pressure.
Bear case
- Revenue jumped 126% to USD 2.2m yet operating profit rose only 13%, pointing to severe margin compression that this short-form summary does not explain.
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