not good, page-7

Also in announcement they specifically mentioned US business heading for breakeven "Reduced costs and increased enquiry in Liberty, with the business now
expected to approach a breakeven trading position during the fourth quarter (after restructuring costs)"

If they can get the US sorted and have a platform for growth over there in retail and corporate stuff - they could be ten times their current size in ten years.

There is huge option value in FLT, that the market is not taking into account. (The US, and the volatility of the sp).

I admit that this following analysis is dumb - but proves a point.

SP major moves (approx):
$1 (dec 1995)
to $4.5 (mid 97)= +450%
to $3 early 1998 = lost 33%
to $27 early 2001 = + 900%
to $8.5 late 2005 = lost 66%
to $32 late 07 = +350%
to 3.39 early 2009 = lost 90%

The average increase in sp from a trough has been about 550%. This 550% could eventually lead to a next peak at $18.50 or so as a total guess, in about two to three years time.

Yum yum