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Ann: Full Year Statutory Accounts, page-15

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    The quality of this result, and the underlying traction in the business, means that the tone of that previous post of mine was too conservative.

    They say that to make money out of stocks requires two criteria to be met, namely a business that is:

    1.) Cheap, and
    2.) Inflecting

    GUD has satisfied 1.) for some time, but 2.) has been elusive.

    I thought 2.) would become evident with the full-year result.

    Based on this result, that inflection point has been brought forward 6 months.

    .
 
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