Ann: Annual Report to shareholders, page-13

Apart from missing on the rev side (I was hoping for up near 15m) I think the result is good. Invested into the business, and being run very lean. The initiatives seem good and achievable. Incremental little wins.

Only thing I don't like is the dividend. Being unfranked it just doesn't make any sense, far better for most shareholders if they want to reduce their exposure to just sell some shares. Happy to have a dividend once there's excess cash...but given the balance sheet + potential to need to support entry into new markets, I'd rather they just keep the cash themselves (especially whilst they're still tax free earnings)