Ann: Half Year Results Teleconference, page-2

Next weeks results announcement can't come soon enough so we can all start focusing on real information rather than rumour and speculation. Today's price movements are a useful case in point. The longer you invest in TRS, the more you realise that so many investors draw conclusions based on short term price movements (and TRS is not alone in this). In my view the most likely outcomes for next week remain that a solid H1 result is announced, there is a return to healthy dividends and they will announce a small positive earnings outlook for H2. If and when this becomes public, the whole mindset and discussion around TRS will shift to a much more bullish bias with discussion focused on how far into double digits it can go over the next year or 2. I know we are operating in a very volatile market environment since early Feb, however solid earnings results and healthy dividends mean individual stocks can still rise materially in a volatile market.