why, page-6

Big problem with ISF is debt, growth strategy (focussed to date on growth/scale rather than margins), too many products rather than focus on most profitable product set, cost control, poor management capability, too much reliance on UK market, poor go to market strategy (ok smart solution more akin to addressing this ie sell modules of Lorenzo rather than big bang....) and bad pr around NHS work and delays/problems to date.....not a good pitch for sales guys in selling their products and implementation skills elsewhere...

Pluses....hmm...still seems to have support of OCP....looking at fresh blood (new CEO but yet to find one)...good product range (so I am told....).....struggling here.....but believe possible turnaround story but will take a while with RISKS.....