A strong set of interims this morning, with revenues +14% and a move back into sustainable profits confirmed. Ahead of the acquisition of Elemental in August, net cash increased to £1.2m. We make no changes to our forecasts at this stage after upgrading materially for the Elemental deal, which we continue to view as transformational for the group. We see plenty of mileage in the story and reiterate our Buy recommendation.
