The year ended 31 July 2020 was on the whole a satisfactory year, with a strong performance from the Rail Technology & Services Division compensating for evident challenges caused by Covid-19, primarily in respect of the Traffic & Data Services Division. As we reflect on the previous twelve months, having completed the acquisition of iBlocks Limited, navigated the early phases of Covid-19, generated revenues of £48m, whilst maintaining EBITDA margin, and ended the year with almost £18m of cash, the Board is pleased with the resilient performance.