Wee Timor-IMS Beastie

An IMS is an odd wee critter, not unlike the Highland Haggis in that it's one leg (the bit before the IMS since the last results) is significantly longer than the other (the bit between the IMS and the end of the current period). And, of course, they can either be delicious or make you gag.

Unfortunately you rarely know the day before whether you'll be enjoying the reporting version of soft  organic barley oats melting in the mouth in a savoury jus of delicate lites or chewing hard on a piece of unimaginably unpleasant gristle.

Today, however, we know that tomorrow morning we're in for a decidedly middle of the road, mass produced piece of mush that will please no-one and make many wonder how on earth this once proud producer of fine, meaty comestibles has been laid so low, how these pallid ingredients could have cost this much and where the sheep will be coming from to stuff these beauties full of hot goodness in years to come.

So, we know that licensing (stomach lining) will be lower than H2 last year, we know that royalty units (barley oats) will be probably down also, that MIPS (lungs) will 'be contributing financially to the Group', that there is increased interest in our other families of IP (meaty goodness) and that PURE is incredibly important to the future of our IP being adopted throughout industry as a whole (it isn't).

So will anyone be happy ? No. Will anybody be surprised ? No. Will we really know any more tomorrow at 7am than we've known for months ? No.

Will the SP drop yet further when it's flagged (again) that any (note any, not the) possible growth this year will be most decidedly in H2.

This long term investor is expecting higher losses in H1 than we had in last year's figures with the hope of some H2 recovery, so anything better than that will be a huge bonus. I'm actually expecting much higher FY reported losses this year given the current level of sales so far predicted and the fact that you can't just stop expenses dead when they're mostly in R&D and no-one's been sacked. The only reductions possible would be the absence of redundancy payments to MIPS sales teams.

Ho him, tomorrow's another day, and Friday's another day too.

Let's just hope we can take delivery of one more succulent, juicy, spicey organic Haggis before the maurauding Northmen sever their ties with Westminster. Unfortunately that's it likely either.