Homebuy Group (HBG)

Have I got hold of the wrong end of the stick? I've been assuming that Homebuy needed 54.3k NEW customers this year to justify E-D's forecasts. However, as an estimated 28.5k allready exist, do Homebuy merely need another 25.8k?

E-D, August '05

Table 3: Customer numbers, 2004 to 2007Est (page 6)

Number of Hire Purchase customers
Homebuy
'05 28,500E
'06 54,300E
'07 83,500E

'In April, 2004 the average number of contracts per sales representative was 15.9: in March, 2005 it was 17.9.' I'll be conservative and call that 16.

There are now 200 sales reps. 200 x 16 new sales = 3,200 per month, x 11 months = 35,200. Add 28,500 existing = 63,700.

Can't be right......can it? Comments/corrections please.