Bragg...I think the issue is the percentages of EBITDA to revenue. With the 2011 result they increased revenues by $70M but could only increase EBITDA by $2.3M. The EBITDA % to revenue is dropping - one would want it to increase as the business becomes more efficient and carves out economies of scale. Even worse profit was static regardless of a $70M revenue increase. I understand they are in transition from thier dependency on Foxtel to bulding services but how much longer do we have to wait till serious profits kick in ?
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