I have explained how but you don’t like my answer. Fair enough.
The point I would make again is that for KPG there is a poor correlation between revenue and profit attributable shareholders.
in the model for this business, Acquisitions grow the revenue, which of course grows the profit reported for the businesses owned but does not grow the amount of profit the shareholders of KPG share in at anything like the same rate.
looking at revenue is useless unless you know the margin now and how it may change in future.
KPG Price at posting:
$4.09 Sentiment: Sell Disclosure: Not Held
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