Ann: Full Year Statutory Accounts, page-58

Hard to say without really jumping into the business and understanding specific circumstances. I suspect that moving away from their proprietary f/w and introducing other new services to the SOC probably had something to do with it.

I'm not operationally involved in TNT, but having bought, sold and run several of these types of businesses over the years I have a fairly good understanding of how they work. The main issue no matter what way you skin it is not enough customers to get it to breakeven. My understanding is that IQ3 fixes this problem in spades.