For me SRT is struggling for a few reasons:
• the very negative backdrop coming in to 2016
• the surprisingly confused ann - with all kinds of mistakes, gaps - we couldn't even work out whether it's Intiger / Integra - or which Mark Fisher - looks like it was rushed out
• the lack of a clear distillation of the business - is it a low cost offshore admin operation? or some disruptive Fintech - we still don't really know!!!
• no clarity on who the 3rd parties are
• the pre-ann run-up has created a higher than usual number of profit-takers on ann
Either all these issues get cleaned up with a compelling 'Investor Presentation' - or this continues to struggle
(20min delay)