Ann: Senetas Half-Year Results Announcement, page-5

Not that terrible (not good either). 8.5 is disappointing but they will make their 10 as soon as the delayed sale happens. It was the same story last year. I would like to see a new target for August, but this is Senetas and they never share anything.

Cash flow break even still predicted for Votiro mid year so that’s OK.

we were expecting lower sales from Senetas’ core segment due to lower transfers to Thales, so no surprises there. Underlying sales seem to be going well.

so kind of met what I expected and it’s just vintage Senetas. Always a bit of an under achiever but enough potential to keep me in. I just wish Votiro would start getting better sales in the USA.