OTW - Fantastic Results, page-20

I think many good points raised here.

The 4 million add back is not a big issue for me as when you look at the operating cashflow numbers this is reflected as revenue grew significantly but cashflow only grew by around 1m (Note 29). It will interesting in 12 months time whether costs can be stripped out and whether cross sales can increase revenue and margin. It is interesting the Comlinx acquisition is slightly below last year on and Organic basis but with the extra cross sales it is slightly in front of the 2018 full year.

The other thing we need to know if there are timing issues with these businesses revenue. Obviously they have reported 8 months for the acquisitions.

I bought some after the announcement but looking at this now I am pretty neutral.