I see mention of efficiencies etc, but I'm not seeing it in the...

  1. 7,151 Posts.
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    I see mention of efficiencies etc, but I'm not seeing it in the numbers yet:

    (Right to left. Note the difference between dark blue and orange on RHS, and note the teal on LHS. Expenses have stayed steady at 125% of receipts using a rolling 4 periods.)
    https://hotcopper.com.au/data/attachments/5239/5239807-85fbb98362164e1005b172c42ce96717.jpg

    (Right to left. No obvious new peak in receipts for the quarter. Hardly keeping up with inflation vs last year. Staff costs are up though, from an acquisition.)
    https://hotcopper.com.au/data/attachments/5239/5239809-730b11803c459e37a5c4590f1a365303.jpg

    (Right to left. Rolling 4 periods receipts rising from acquisitions etc.)
    https://hotcopper.com.au/data/attachments/5239/5239810-b7d1f7361914ecf0a7469b2d5a10292d.jpg


    That is not to say that the efficiencies are not true. Maybe they'll show up over the next 2 quarters. But for years, the situation has not improved - see first chart, with expenses steady at 125% of receipts.
 
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