I've certainly read a lot worse reports over the years. When all...

I've certainly read a lot worse reports over the years. When all the arrows are pointing up it's always a good sign although percentages don't mean a lot. 30% on $1 mill is nowhere near as attractive as 30% on say $10 mill. Pretty obvious I know but all percentages show really are trends. And in this case they are all up. I still don't think the sp reflects the true value despite what some see as a disappointing result. A P/E around the 14 mark when similar platform stocks run at 3 or 4 times that multiple and even Morningstar puts a fair value at 64cents. I suspect there is some margin contraction in some cases to retain customers and also we are never privileged to get behind the scenes to learn of staff churn, what is really happening in the R&D department and most importantly what the immediate future is shaping up like. That's where the rhetoric can wear a bit thin. I remain quietly confident that come November when the remainder of the sale money comes in and we all get a dividend then sentiment will start to change. I'm quite convinced those who have bought in today will show a very healthy return in the next 6 to 12 months and beyond.