Sold the servicing of POS business. This as we have seen time and time again is a cost inefficient business to run. Over 300 staff! Little profit. Kept the smart card service side of things...as per last half of '07 this was generating good cash and on a sharp increase. Interesting the buyout by Moneris and just how deep we were in the Canadian/US payments market. Moneris has many links to US retailers and finance bodies. The suggestion of the entire change of focus is that the US market is still not the happening place that Keycorp and others would like it to be in regard to the migration to secure smart cards and that for the medium term the European market is the best place to build the company's positon. Reading of the literature on projections especially on the ID market in Europe suggest this is the way to go. The US will follow at some time! So i disagree on the management issue. We are clearly centre field. Judging by the share interest generated last week others think so too!
KYC Price at posting:
0.0¢ Sentiment: None Disclosure: Held
