Ann: Trading Update, page-27

What is disgraceful is you your misrepresentation of the company performance over the period since you bought in. What I see from the financials over that period is rising revenues, rising net profits, rising book value and rising dividends.

The company made some overly ambitious forecasts, hardly a hanging offence! Would you prefer them to set easily achievable budgets that do not challenge the team?

Bedding down an acquisition is always distracting for management and the company in general and they ought to be cut some slack as a result. It seems all the cry babies and glass half empties are almost out of the stock and I wish them the best.