Ann: Half Yearly Report and Accounts, page-6

Well we are coming up to report time and I hope the results can improve on last years half yearly again. The trend has been on the up for years as these guys have performed for all of us golfers.  I know they have been lower years ago but when I got my parcel at 30c it was a punt, but the company has continued to increase earnings and dividends half year after half year. It’s going to be great to read if they have been able to sustain this growth. The pound has obviously hit our British earning so it’s going to be interesting seeing whether the investment into company run stores is going to be able to negate this. Should be in next few weeks we find out if we are still on the right path, and what new revenue streams they plan on. And of course how much our lovely dividend will be