Not only are margins maintained, they are increasing.
My calculation of profit before tax to turnover in 2021 was around 12% and this year it should be around 14%, which on my figures is the best percentage over the four or five years that I have analysed.
So they are turning revenue into profit at an increasing rate.
They are seriously good operators. If only every company could be run this way.
SNL Price at posting:
$9.02 Sentiment: Hold Disclosure: Held
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