They have under-achieved on sales but over-achieved on gross margin gains.

It's miles better than expected but against the weakest comparative quarter of last year. We need to wait to gauge the future prospects of the company.

Twenty-two million pounds is good news for a company in financial difficulty but it does not hide the fact that we think there is still a funding requirement.

Tim Mason has been close to the helm for 10 years so he's got to know something.