Ann: Client Update , page-7

I suspect you guys are a little harsh. Of course Fat Bloater would bag everything, including his mother, so I don't take much notice there.

DWS isn't going against the tide in its sector. It has no debt. It has diversified. It now has overseas capabilities via a cheap source of work input out of Manila.

A few years ago the loss of Telstra would have been a big deal now at just 8% of revenues they can cover this with just a modest dint to NPAT.

Plus, give DWS a little time to reorganize its recent acquisitions in the defense industry.

Its hard seeing NPAT been greater than $12.8m in FY14 but it is still generating me a GUDY of 9.4% so I'll hold and see.