Ann: hummgroup 2021 investor strategy day presentation, page-27

Here are four examples of companies that have grown sales and revenues over the last four years. Three of the four are loosely in financial services.

Three of the four show profit increases above revenue increases.

HUM is an established business and would have a large proportion of fixed operating expenses and that is why I expect to see profit increases outpace revenue increases.

	Column 1	Column 2	Column 3	Column 4	Column 5	Column 6
0		FY'17	FY'21		% increase
1	ADH
2	$millions
3	Revenue	265.0	499.8		88.6%
4	NPAT	21.1	63.7		201.9%
5
6	% of revenue	8.0%	12.7%
7	MNY
8	$millions
9	Revenue	109.6	145.1		32.4%
10	NPAT	29.1	39.2		34.7%
11
12	% of revenue	26.6%	27.0%
13	AFG
14	$millions
15	Revenue	539.8	747.0		38.4%
16	NPAT	39.1	51.3		31.2%
17
18	% of revenue	7.2%	6.9%
19	FID
20	$millions
21	Revenue	40.4	58.6		45.0%
22	NPAT	7.5	12.2		62.7%
23
24	% of revenue	18.6%	20.8%