Ann: 1H18 Results Presentation, page-17

To be fair their interest costs were very high last year and will have dropped substantially and in my quick assessment I had expected them to start breaking even. The problem is they not provided clarity to me at least. Percentages are hard to really use as a co.oarison when growth is so fast if growth was say 100% in December then the question arises is the jump in doubful debts for the previous period which would have been much higher than the percentage it became after the growth because the growth would have averaged down the percentage. It needs better explanation imo because there can be so much of an opportunity to manipulate problem expenses during high growth periods. I would not have imagined that doubful debts would have grown in say any January month but I'm not sure of the time it takes to determine doubtful debts. Is it more likely 2-3 months in which case $6 million might have been on the 50% of current receivables surely. These are just estimates times, amounts and percentages but most readers might understand where this could lead.

All comments welcomed.