After its terrible performance in 2012, Innotek management had been warning that the first half of 2013 would be difficult but the second half should be better and if they were lucky – they could even make a profit for the whole of 2013.

When I saw the Q1-2013 results, I was actually quite happy and thought that a steady and sustained turnaround was happening which would signal that it was time to start looking at the stock again.  But that was not the message we got when we met management.  However all is not lost and I am still quietly confident that investors can see decent returns from investing in the stock at current levels – the key ...