The H1 results mark the first results from the new management team and should be well received by the market. The trading environment remains tough, especially for Next 15’s technology clients, but these now only represents 31% of group revenue. Good performances elsewhere have offset tech industry challenges and an overall revenue decline of 3.6% is a good outcome. Combined with a focus on cost efficiency and portfolio simplification, the Group delivered a good margin and cashflow outcome. The trading outlook continues to be stable, which is better than we have seen elsewhere in the peer group and underpins expectations for the full year. More broadly, the new management team are accelerating the focus on simplification and have acted quickly to draw a line in the sand over a number of legacy issues, not least Mach49, which has now been discontinued. Clearly, there is further news to come, which will renew market attention on the value that is still clearly inherent within the group’s portfolio. The group is also sharpening its focus on the growth opportunities within the portfolio and we expect more to come on this front over the coming months.