@Warrigals, Of course, one needs to include brickbats alongside...

@Warrigals,

Of course, one needs to include brickbats alongside bouquets and the one thing that I didn't like in the result was the change of depreciation policy that took effect in the September half.

This bit of subtle accounting alchemy accounted for some 2% of the EBIT growth in the half.

Still, for me it doesn't detract from the resilience of the business during once-a-generation competitive pressures.


(And if the shorters are reluctant to grant my wish of a lower share price, a little event in the USA looks like it has done so.)