sunday inside business program, page-16

Yes and you make a fair point

However, I would note 3% gross margin for engineering IP is still a better than some bank's NIM, insurance company or parlous sales-to-profit margin of consumer discretionary.

There is not doubt some that will continue to be sceptical and that is why the market is currently valuing it at sub 5 EBITA. The trade here is simply that the uncertainty is possibly overdone after the retail punter has said they've had enough. This IMO has allowed the ST risk/reward equation to be worth a punt.

If it doesn't turn within a few weeks I will also exit stage left.