good ann - no reaction, page-3

Perhaps its because they continue to make operational losses. the breakeven to $3m profit is only due to the extraordinary item in the first half selling a large part of TAFMO. Apart from that, a big loss in the first half and now an anticipated small loss (if all goes well) in the 2nd. With over 1 bill shares, even a $3m profit and a PE of 10 only values the company at 2.7c. They're not cheap on that basis. IHG is obviously still struggling and they'll want to win some big contracts and prove they can keep costs down, before significant support returns