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Year end

February 28 - This would normally be year end day for us but leap years give us another day for sorting things out and getting stock done.

Why we have a February year end is a mystery locked in the deep history of the company from long before I arrived. I often feel like changing it but so much is done annually I never think getting tax years aligned worth it in the end. Just in case though, for next year, has anyone any experience on this?

As it is, with a bit of effort I think we will now deliver sales growth top line but WIP adjusted we will actually be down. Profits inevitably follow. I'd rather not repeat that next year but evidence suggests we might. We have reserves and cash to back them to keep shareholders sweet for now but not forever. Equally I cannot deliver the impossible, and right now I really can't see anyone doing like for like growth in this market. So I have to accept I can't deliver miracles. It's not in my job spec.

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