Is SWF Significantly Undervalued?, page-8

SWF's falling revenue is unlikely to have been just because of being the Dec quarter and the freebies. Have a good look at the "Trade Growth" chart in CP dog's post above (From page 3 of the latest quarterly, although SWF don't bother to put numbers on the pages.) Trade growth? It looks more like trade shrinkage to me. Trade growth has clearly stalled.

Trade growth has stalled and revenue is falling, before SWF has become profitable. Simply not sustainable.