Ann: Half Yearly Report and Accounts , page-4

No doubt that the result was on the disappointing side. That said, I doubt most would have been buying at these levels (or anything over 15 cents or less for that matter) based on their retail business. The future is more important.

Problem is it's impossible to work out earnings from M2M other than a pure guess. They did have some positive comments, however, about upcoming smart meter announcement (means what re dollars who knows) and Vodafone to be monetarised in the coming 6 months.

So, some positive within the negative. Just hard to know what the positive means re future income / profit. Hence the spec nature of this.

I hold. Result not bad enough for me to sell, not good enough for me to buy more.

MJS