Looking at the 2023 annual report. Do you understand why "Cost of general management" has increase faster than sale? 150% (97 992/63 958) vs 125% (416 109/331 453). Note2 seems to implies it's salary increase related but that doesn't seem to explain all of it. It also contradict my experience that IT salaries are somehow stabilising this year with the many lay-off.
I haven't looked in depth at the 2023 annual report in all honesty. I'm still holding my shares but given the fact the company is (1) expanding internationally via new branches in India/UK (2) increasing partnerships (3) expanding existing practices and maintaining a high bench with no layoffs, I'm not particularly surprised. The increase was largely in my comfortable range to be honest.
The company is definitely investing through the Income Statement right now though and is doing it largely without CapEx expenses, which allows them to grow quite fast.
Hi William,
Looking at the 2023 annual report. Do you understand why "Cost of general management" has increase faster than sale? 150% (97 992/63 958) vs 125% (416 109/331 453). Note2 seems to implies it's salary increase related but that doesn't seem to explain all of it. It also contradict my experience that IT salaries are somehow stabilising this year with the many lay-off.
Hi Yann,
I haven't looked in depth at the 2023 annual report in all honesty. I'm still holding my shares but given the fact the company is (1) expanding internationally via new branches in India/UK (2) increasing partnerships (3) expanding existing practices and maintaining a high bench with no layoffs, I'm not particularly surprised. The increase was largely in my comfortable range to be honest.
The company is definitely investing through the Income Statement right now though and is doing it largely without CapEx expenses, which allows them to grow quite fast.