[ATTACH] Sorry, I should have clarified my reference of expenses...

Sorry, I should have clarified my reference of expenses by defining them as a percentage to sales, ie the expenses continue to rise as a percent to sales (this would have been clearer if the graph was visible)

If as you suggest, that ‘Korvest is indeed a cyclical business’, then this becomes a vitally important measure, competent management would manage to the cycle to ensure ongoing profitability.

However, i do not subscribe to that theory, other than the obvious mining boom which was exceptional for a period in time, Korvest is underperforming the broader market.

The legacy of poor performance is largely attributed to the stream of incompetent management decisions, you only have to review the past actions and outcomes to validate this statement.

If you have followed my posts, you would know that I am making these comments based on an intimate understanding of the internal business as well as the external operating environment.

I know precisely what went into making those big EBIT numbers, and it is managed vastly differently today and therefore is unlikely to ever produce a moderately comparable result.

Anyway, you seem committed to the cause, I wish you well!