I think there is a better than even chance (better than 70% chance, I would say), that looking back, 5 years from now, we will see that the last few years have been little more than ONT encountering a few a fairly minor speed bumps. I suspect, those that saw the "bump" as a cyclical issue, rather than structural, will (as is so often the case) be rewarded.
Ann: Half Yearly Report and Accounts, page-10
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