The Importance of Pre-Tax Profit

In 2007, Harvey Norman was making about 1.3 billion in revenue. In 2008, made a little bit more. 2009, still 1.4, 2010. Top line didn't really change that much. So it's got a top line just sort of stagnated for a little while. People's actually held up really well. Profit really fell away. And they went on to prosper. When was the best time to buy? Right at the nadir there,. where things were just bombed out. The multiples were super low and quickly flicking across to another chart here.