Sergeant, I'm beginning to think that the bottom line is that...

Sergeant, I'm beginning to think that the bottom line is that it's all about the bottom line. I don't think we're going to see anything until the half-yearly, and there is clear evidence that direct charging and all the other initiatives are having a positive effect. Right now the market has no real idea what's going on, other than short term expectations are being hosed down. A quarterly would clarify things, wonder why they don't do it? Could it be that there's nothing to tell? After all, if revenue was surging wouldn't you want the market to know?

Have also been thinking again about the consolidation and have had a change of heart. I think the sheer weight of numbers is/has become a real drag. For my sins, I've been in companies before with a billion plus on issue and they go nowhere until everything is sorted. With Baker now consistently talking about the medium term, and in light of the serious repositioning currently going on, doesn't it make sense to get the new capital structure in place and then go for growth? The consolidation is one of the last major pieces of the jigsaw to put in place, if not the last. After that, it's all on for love or money. Hopefully the latter.

With that in mind, I sold down half yesterday.