Ann: Half Yearly Report and Accounts, page-5

@travelightor

I haven't yet gotten stuck into the ONT report, as I'm still digesting MND. I did however read the letter from the MD.

I note your points about DMA, and will contemplate it further in due course.

I actually thought the latest MD letter was not particularly "fluffy" and perhaps one of his better ones.

My view is that the LONG track record of prudence with capital, focus on costs, and generation of real attractive returns on capital, speak more loudly than what you may be indicating. This is walking the talk, I would have thought.

I think given this track record and clear alignment of interests, it is little unfair to intimate that there's something sinister at play. In fact, as a shareholder, it would be unfair for me to expect more from an MD who has been working tirelessly, prudently and skilfully for my benefit.

Dr Holmes, I salute you.