LIES, LIES, and DAMNED LIES - ALLIED BRANDS ANNUAL RESULTS SHOW COLLAPSE IN BASKIN ROBBINS BRAND, HUGE MISSED PROFIT FORECAST

Peter Graham, Managing Director Allied Brands Ltd. (ABQ) said on 22 June 2009 that "the company reaffirms the current forecast net profit before tax of a range of $6.0m - $7.0.m remains on foot". Also what he told to the Rivkin "Stock Bullshitter's Report"

And reaffirmed again on 31 July by Peter Graham.

Preliminary results show actual results of $2.9m.

A MISS OF OVER 50%

Just 11 August (six weeks after the financial year closed) Graham also told the ASX, who is still investigating the massive volume in share trading, that "The Company is not aware of any reason to think that the Company may record any material abnormal or extraordinary profit or loss for the full year ending 30 June 2009".

This was clearly a lie to the ASX!

Not only did the company miss by 30%, it in fact showed huge abnormal losses for the year.

Sorry, this was TWO LIES.

The statement also shows a complete collapse in the Baskin Robbins and Cookie Man brands. While claiming a 6% same store growth figure, this is after shops were forced into 25% pricing increases due to failures in the company's foreign exchange hedging program. (By "failure", it's said that despite promises to the shareholders this was NEVER done!).

This after they "rode the tail" of Retail Food Group (RFG), who posted REAL sales increases, REAL profits for their franchisees, and RETIRED debt. Something Allied Brands has spectacularly failed to emulate.

Ok, THREE LIES by Peter Graham and management.

So clearly it would seem the big "volume" in share churn these last few weeks were non-reporting insiders selling their newly purchased shares in the last massive company dilution - taking a 10 or 20% profit on these shares before these dodgy reports hit the market. TODAY.

Also notice that NO AUDIT STATEMENT has been provided. So there likely can be more lies and other problems in what's been released today. We understand battles with Hackett's continue to rage with Hackett's threatening to force the audit elsewhere. NO AUDIT IS A GIANT RED FLAG THAT THE END MAY BE NEAR!

STAY TUNED!

More analysis coming soon. . . . .