Interesting post, I must admit when I've seen companies that have a large cost base in a growth industry I prefer when they back themselves to drive revenue to suit that cost base instead of having to cut costs to suit revenue. For me this can be one of two things an admission that they were getting it wrong and over spending in the past which wasn't driving shareholder return or their revenue projection has been moderated requiring them to tighten their belt.
Ann: Business update, page-19
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