The HY results were never going to shoot the lights out from a...

The HY results were never going to shoot the lights out from a value investors perspective but the growth in the Luminous platform which only got up and running during the first half is impressive. Economies of scale will happen as more sign ups occur plus with the integration of the recent acquisition. Given the SP is basically doubled in the last 12 months a little profit taking has happened but I'm holding for the duration.