Absolutely - the improvements in margins were the standout. It's...

Absolutely - the improvements in margins were the standout. It's probably more important than new contracts; you can have all the sales in the world but if they are not profitable you are not running the business correctly.

But why did they announce after market?

Anyone who actually scratched the surface of this company during the past 12 months would have realised they were in for a loss.

Instead they should had a bit more confidence bringing it out during market hours and said - look what we did - we improved margins and margins are likely to continue to improve because of XYZ.

The way they presented these numbers was a bit of tail between the legs.