From my view, a solid result and slightly ahead of my estimate....

From my view, a solid result and slightly ahead of my estimate. Yet more cash in the bank. Outlook statement sounds more positive than it did six months ago, even if it is characteristically cautious.

This just seems like a great little business - high ROIC means they can just keep giving out cash as divs or buying up acquisitions where it makes sense.

I am going into snooze mode on these - I doubt I'll be selling for years, except to re-balance funds if the sp ever starts to look toppy.

As an aside, if job ads are anything to go by, the biggest risk will just be around the escalating cost of finding enough IT staff. (More than half the advertised jobs in my area seem to be IT based at present - I am starting to think that the world is now just a place where "jobs" merely involve programming computers to do what humans might formerly have done).