I'm an investor in Wotif and Realestate.com and when I noticed...

I'm an investor in Wotif and Realestate.com and when I noticed that Webfirm was signed for the advertising on their web portals I decided to take a closer look.

I can't understand why anyone would invest in this company or in fact why it is even listed. It has signed more customers, yet it's revenue for the first half was only $2.3M a decrease of $500k on last year. The directors and staff are paid $3.3M, an increase of $700k on last year, yet revenue has decreased. The travel costs are high for a web based firm $132k (surely only the BDM travels). If its web based why have the rental costs gone up by $50k and why are they $215k anyway.
Seeing it has purchased most of its software by takeover, rather than development, surely this company is hugely overstaffed. Any good manager could run a company like this, with $4.6M of income in about 20% of their time and be happy with a salary around 20% of $200k, not the $500k paid to Mr Burden

Have I missed something?????????????????