I have read everything again and the positive I find is that……it...

I have read everything again and the positive I find is that……it could have been worse. And that is a reason for the SP to go up. But for anyone to claim or believe that this is a good result is delusional.

I mean, let’s be clear, the SP is down 10% on where it was a year ago. It has been savaged.

in part it is up as the bolr case is costing it less.

the management team and board remain clueless. The cost reductions will come at the cost of revenue and future value reduction. Every business amp runs has negative value growth potential. Where is the huge impact of China? Look at the shrinking value of the bank. The platform profit for the year has benefited from a one off gain, not explained by amp. And the advice business remains a basket case.