good annual results, no dividend, good future

The annual results for STU, posted today, are, in my view excellent considering the current financial environment. Well done Tino, the Board of Directors, and the management team.

Given that STU will need to invest around 95 million in the near term, the decision not to pay a dividend is responsble and gets my full support.

Todays data again demonstrage that this is a well managed company with substantial growth potental and minimal downside risk.