what was the reason for the big fall after the big rise, page-63

Thanks @Klutch

Just had a listen and all I hear is eminently sensible management with emphasis on careful capital allocation and working on building a balanced business going forward. Whilst they acknowledge that the businesses have already grown a great deal - they seem equally confident in the ability to continue to find new ways to grow all their businesses.

The fact that the core businesses were flat on PCP despite the Afghan withdrawal and the removal of gov. stimulus - shows offsetting strength elsewhere within their units. Then you have the acquisitions on top of that which will pump the headline numbers.

Processes around inventory management and personel management have been executed well and leave the business in great shape in a time when they easily could have stuffed up and been short product/people.

For me the next catalyst is seeing a strong CEO appointment - hopefully this month.