Okay, so I graphed VORs cash receipts for the last 10 quarters vs Staff costs and Corporate/Supplier costs. Initially my intent was to send to Jeff with a please explain as I was of the opinion that staff costs were growing and were not being reflected in cash receipts.
Seeing the data presented like this I've learnt that I had the wrong impression, maybe the market does too? VOR are showing continued strong growth so it's only a matter of time before the market catches up.
