Starr said EWC was a wholly-owned subsidiary of a Swiss multi-national corporation, headquartered in Geneva.
He stated EWC's revenue in 2008 was about "$474,000,000 in Australia, with a gross profit of about $17 million" (the majority of "retained earnings paid to its Swiss HQ in management fees").
-- When he says about does he mean about 1% of $474m !!
Revenue
Earnings; what a company makes in monetary terms from its activities. Not to be confused with profit, since expenses have to come out of revenue.
*** THEY DID NOT MAKE $474m this guy could not run a milk bar if he does not know the difference between income, turnover and profit!! ***
Profit
The accounting term for what is left from earnings after all expenses have been provided for. Profit can be gross, which is the difference between sales and the costs of the goods sold; or operating, which is the difference between gross profit and operating expenses, including income tax expenses. The term 'net profit' can be used to refer to 'operating profit' or 'operating profit after extraordinary items'.
See also: bottom line, gross, net profit, operating profit.
Turnover
Usually, total sales for a given period (for example, annual turnover of $10 million). The term is also used for the changing of goods (stock) as they are sold and replaced. In financial markets, turnover means the number of times something (usually assets such as trading stock) is replaced by assets of the same class as a result of the company's trading throughout the period. Share and futures brokers talk of 'turnover on the exchange' when referring to the volume of shares or futures contracts that change hands.
Sorry guys to keep bringing this up but my blood is boiling that he has the nerve to even try such a sham.
** Tick if you agree.
TG
NWT Price at posting:
0.7¢ Sentiment: ST Buy Disclosure: Held
