Logistic gold rush in China., page-9

I think I have heard you say more than once that SMA will never turn a profit, but I'm not committed enough to browse your history. There's enough petty arguments on this thread as it is. I apologise for misquoting you.

I'm happy to discuss the facts though. Your last statement is technically correct. Costs will of course increase with revenue - it costs money to sell things. It is also true that the company has never turned a profit. But if your intention is to educate anyone new to SMA on the company's history, then I believe you are being misleading. The company's growing revenue has always (aside from FY2011) outpaced it's growing expenses.

It's also worth noting that revenue and costs will both decrease this year. Perhaps it is time for a new perspective? I believe there's a very good chance SMA could post it's maiden profit in Q3, if it collects the full amount of outstanding receivables, but that would also be a misleading result. Q4 will give us a better indication of whether or not SMA has transformed itself into a viable company.