Chart looks ok to me, page-29

I've been wrong the last 3-4 months, things have gone better than expected - there's been a slowdown in bad news not an acceleration. Credit to management off a low base. If I was inclined to invest in listed law firms, which I'm not, the set-up looks tempting. Still the big issue here is how much of the debt load they are they able to pay off how fast, and what impact on the business. But the signs - in absence bad news - quite good.