not saying the quarter is bad, but the quality of the profit matters. lower finance costs help, cash is up, but the margin expansion is partly accounting-driven, not just better operations
Thanks, Julian! We wanted people to see the margin story wasn't the whole picture this quarter. Between the useful life extension and an impairment allowance reversal that showed up in this filing, there's a fair bit of accounting work alongside the operational side.
not saying the quarter is bad, but the quality of the profit matters. lower finance costs help, cash is up, but the margin expansion is partly accounting-driven, not just better operations
Thanks, Julian! We wanted people to see the margin story wasn't the whole picture this quarter. Between the useful life extension and an impairment allowance reversal that showed up in this filing, there's a fair bit of accounting work alongside the operational side.