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Ann: Business Update , page-2

  1. MJS
    2,280 Posts.
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    This appears overall positive for 1st half results, and more importantly full year if trend remains. Most significant takeaways I see:

    * Transaction volumes for Jul to Oct within 1.5% of same period in 2009 (ie. rebound - and reasonably higher than Jan to Jun 2010).
    * Revised priving roll-out continues, and in advance of plan.
    * Less material is purchase of 88 ATM sites and disclosure of CEO 2013 LTI vesting targets (I would have prefered higher target for 50% vesting, however overall ok).

    If transaction volumes hold up them 2011 is looking very good. Not surprising that those with inside knowledge pushed the price up on a weak day.

    MJS
 
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