They really like focusing on core profits, yet every half seems to have many millions in non-recurring costs. Claiming 7.5% growth when, in actual fact, profit went backwards is disingenuous. I say this because restructuring a part of the business to make it better is surely a cost of doing business! Profit is profit.
Paid to much for these up at 70 bucks, oh well. It's meant to be for 10yr plus hold but I'm kicking myself they went back down here last year a couple weeks after I bought them. Impatience, not good. Margin of safety people!
They really like focusing on core profits, yet every half seems...
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