recent performance, page-26

It’s looking like the 6m shares placed a month back went to those who understood the value proposition. A month on and we’re at a 12 month high, 37% above issue price.

With the preliminary report out in 2 weeks I’ll be looking at margins, management have shifted guidance upwards twice and it’s looking like we’re going to come in towards the top end of guidance around $35m revenue. Last HY the GP was 21% on $8.4m, clearly its going to be a large increase in revenue but let’s see if they can also improve on margin. If not this half then I’d expect them to deliver an increase in the next one as the high margin US business begins to contribute at 40% GP