Ann: New Maintenance Software Supply Contract-TCN.AX, page-10

Agreed, but I would say the fall in earnings was caused by the Urgent division which is undergoing a restructure to a SaaS model. The three year or so average is just how I personally invest (mainly looking at at companies that might mean revert). The contract is great and since the business (Urgent) is scalable it may improve EBITDA margins.

Though the signing of this contract has pushed the market cap up by 2.5m on a roughly 10/11m company (once cash and debt owed to them are stripped out). All I was saying was that perhaps some of this 2.5m was simply because the company was undervalued to start with.

Don't mind me, just sad I missed this one!