REF is comparable because we are talking about margins, not margins for x type of companies in a particular industry operating out of certain countries ;-)
The GFC has hit REF's earnings quite hard over the last 18 months and yet it has been able to maintain its outstanding profit margins. Even more credible when rebutting the "never..." claim about maintaining high profit margins.
It just depends on the business. Lots of tech companies have high profit margins. Even more software companies.
BTW, indicators are leading upwards again. Looks like we might be on for another upwards run. Even moreso if we get a good announcement.
ETC
entertainment media & telecoms corporation limited
