(By Anthony Miller) There was a small disconnect between Axon CEO, Steve Cardell’s rather upbeat trading statement this morning and his report of analyst forecasts. While Axon advised of a “strongly perform(ing)” business and useful new client wins, the £248m analyst consensus FY revenue outlook suggests virtually no sequential H2 growth, more in line with Cardell’s reflection on the deteriorating macroeconomic climate. Actually, flat growth could be considered a bit of a result in the current climate, especially given the business disruption a bidding auction could have caused. And in any event the consensus numbers suggest H1 margins will hold up in H2. The HCL bid goes out to shareholders today and the Indian firm holds its general meeting a month hence. As we have said before, Axon is a heck of a catch (see Axon switches horses - but the race is not over and related articles), but I think HCL will have its work cut out to skin and fillet it.