Certainly dropping hard - but these days I’m just happy there is...

Certainly dropping hard - but these days I’m just happy there is some volume, it’s a silver lining.

There isn’t an ongoing cost cutting program - I think you may have misunderstood announcements on that one. It was a one time firing of a bunch of people to get to cashflow positive. That’s done and achieved. There’s no more to happen or announcements in that one.

It all comes down to actual growth and profit now. It’s fair for it to drop like this because we’re still waiting on significant growth in UK - and that’s because they’ve done the sensible thing and wait until spring to advertise more intensively. If it goes well it should lead to reliable and steady positive sentiment. Then if they can sign a deal with media in US, a whole ‘ other leg of growth. Infinite growth really if they pull that off..

But nothing more on cost cutting. It is what it is now. That’s how I always understood what was announced. By the end of the year things should be looking better with the SP. I still would buy some more parcels at around these prices and I reckon it can go low again until the actual actual growth materialises.