Ann: FY23 Results Presentation, page-22

What I see as appropriate, others may and do see as inappropriate. That's why I hit the BUY button on Wednesday whilst others hit the SELL button.

Democracy allows us to assess the facts, and make our owns calls, then execute on that basis. And that's with a moral and ethical overlay, which differs form person to person.

Having done my due diligence on CTM's work with the UK Government (at least what is publicly available), it seems to me that they are fulfilling a gap in the market, and being paid to do so.

Right now I am backing management to assess the impact of taking on the UK Humanitarian Relief work over anything the Financial Review posts. To the extent that changes, I'll recalibrate my view.