Still not too bad though, maintained the revenue and only a slight increase in costs. To be honest I was concerned the expansion was going to cause costs to blow out so it was pleasing Bangkok and Singapore are nearly breakeven already (just need to ramp up). Franchising London is also a good idea as that would be costly to maintain.
Didn’t get the revenue growth (which was obviously well known given the drop in share price) but remarkably cheap given they are forecasting breakeven next quarter.
Ann: Quarterly update & Appendix 4C, page-3
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