I think you are right on the money Cheapy. I had many...

I think you are right on the money Cheapy.

I had many discussions with the previous management that insisted on paying dividends instead of reinvesting into the business, its members and its procedures.

Any wonder the TFS adviser was able to do what he was doing, without detection.

I am hopeful, but by no means confident, H1 profits are within reasonable proximity of guidance. That news would be re-assuring to all stakeholders. Further, some sustainable profits would facilitate the return of sustainable dividends, appeasing those shareholders who seem to value companies by that measure.

A debt free business, trading on a sustainable PE of less than 8 must surely rank as one that can be re-rated upwards, once market confidence is restored in management.

GLTA