"Good to see, nice Xmas present for holders" Sure, but we'll...

"Good to see, nice Xmas present for holders"

Sure, but we'll only really know how nice a present it is in 12 to 18 months' time once we are able to see the extent to which they've been able to pay back the debt which they've used to fund the acquisition.

For a company like this, whose earnings tend to lack traction and therefore it has to keep acquiring new earnings streams every few years, its always a bit of a race against time, i.e., you need to have the balance sheet repaired by the time the core earnings show signs of decline, so that you are in a position to go again on the acquisition front.

So I think its a case of: we'll only know after next Christmas, how good Santa was to us this Christmas.