2016: 1,070,000 x R45 = R48,150,000
2019: 1,200,000 x R45 = R54,000,000
That's +/- 3,9% compound increase per year in revenue for the period. During this period the average inflation rate was ~5,2% and the exchange rate was weakening towards 2019/2020. Remember that 2016 was the first full year...