Weighted average rate increasing with whats happened to the base rate in money markets is expected.
Borrowings increasing is expected as it's directly correlated with their revenue earning even outside expansion.
Its the whole point of risk management which is what they've been banging on about since the downturn.
Managing interest rate risk is the key factor and one of the ways its been mitgated is through the credit check process and having quality clients and less bad debts and this has been shown via the decrease in COGS as percentage of underlying.
As even though interest expenses have spiked this has decreased.
Its also why I said there will be trouble if bad debts spikes again.
Weighted average rate increasing with whats happened to the base...
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