TKO 9.5.1 Guidance
1. When no figure is mentioned, or even if the word "profit" is not used, the
DFSA may consider that certain forms of words constitute a profit forecast, particularly when considered in context. Examples include statements that "profits will be somewhat higher than last year" and "performance in the second half year is expected to be similar to our performance and results in the first half year" (when interim figures have already been published). Whenever a form of words puts a floor under, or a ceiling on, the likely profits of a particular period or contains the data necessary to calculate an approximate figure for future profits, it will be treated by the DFSA as a profit forecast which must be reported on in accordance with this Rule. In cases of doubt the DFSA must be consulted.
2. A dividend forecast will not normally be considered a profit forecast unless, for example, it is accompanied by an estimate as to dividend cover.
Derived from DFSA RM23/2005 (Made 26th September 2005). [VER1/09-05]