As you know i`m better with numbers than i am with words so surely the answer lies simply in the financials
www.purplecapital.com/downloads/annual-r...nual-Report-2012.pdf
Page 10 details revenue and turnover stats by product line, spreads are on review here so let's work out the margin or commission or value being extracted by GT here:
2011: R35.1m/R140B = 0.025% or 2.5 hundredths of a percent
2012: R51m/ R211B = 0.024% or 2.4 hundredths of a percent
Seems clear to me that revenue growth is the direct result of volume growth, simple!
Last I looked our operator margins average 22% - 23%!
And bookmaker stats from the regulators showed an average of between 8% and 10%
So in other words if GT was a bookmaker they would be pricing their book to 100.05%
More a case of poor journalism and ignorance imo
