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9. Staff costs aren’t the disaster story some make them out to...

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    9. Staff costs aren’t the disaster story some make them out to be. Using the Q1 quarterlies, and excluding 0.6m in bonuses, staff costs this year were 0.7m higher than last year.

    Why would you exclude 0.6m in bonuses in your analysis? This is giving them a free pass. If they gave out double that ($1.2m) in bonuses, if you exclude them, you’ll still arrive at the same conclusion. $600k of bonuses should not be viewed lightly and thrown away. This is a loss-making company. Loss-making companies should not be giving out bonuses willy-nilly.

 
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