Ann: FY21 Trading Update, page-9

Here are some random thoughts only as it's important to see the full picture that will only come with the annual report,

• Todays release presented no surprises. Everything spoken of in this release has been inferred in their reports and releases across the last 9 months
• The global chip supply issue is not just an immediate supply issue but one linked to China's thoughts about a Taiwan takeover
• If you accept the idea that a standard, acceptable P/E for a world class company is, say, 20, then the EPS needs to be about $0.43 (with the price at $8.50) which means that revenue needs to be, probably, in excess of $100m - it's going to take a long time to move revenue from $33m to $100m with growth moving at the "historical range" (that being the words used in the release)

I reduced my holding a little while back and am not about to increase it until I see signs that growth is going to get sharper than "historical range".