Impressive set of numbers, but what has got the market excited...

Impressive set of numbers, but what has got the market excited is the comments at the presentation from the CEO this morning.

She said she is very confident that 'retail' will continue to power earnings for the next two years with plenty of productivity gains to come. The variability among performance of the stores is very high, and with attention this can be narrowed. She went on to say that the SMB channel is a significant profit opportunity and will follow the same trajectory as the retail channel (though it is a more complex market, but highly fragmented ). 3 new stores in SMB will trade under Vita before the end of September.

It was also pointed out that 'enterprise' contracted revenue rose 19% and this is the most relevant guide to how this channel is performing (sales up only 4% in FY2016), with upside in FY2017.

All in all, management sees great opportunity ahead as long as they can execute well. No reason to doubt them.