Ann: ITL 2017 AGM Chairman's Presentation, page-2

Doesnt look pretty as seems to be cash hole there somewhere and this sale may have been to disguise this? Should have at least 10 mill net cash position i feel.

Europe customer is fully stocked but could also be an excuse as trying other products.

Looks like any momentum it has had is now gone and we need to await further results - plus seems to be in a state of transition rolling out new untried products and decommissioning older ones which also has a lot of costs to it - wouldn't be surprised to see very small underlying profit in FY 18.

Most of the bets are hedged on MHT now, positives are innovating, bringing on new products and investing in the future but could be a 2019 story at earliest now.