The profitability of a company is the ultimate measure of a successful company. Growth without profitability does not lead to long term success. How one defines profitable growth might be subject to different opinions. To argue over this point is to focus on minor issues and not focus on the more important point. Growth that is the result of selling more products or services over a larger customer base at margins that equal or exceed current desired margins is profitable growth by any measure.
A focus on growing profitably will always be a primary focus that I promote to my clients. It is easy to let outside forces influence the business owner or CEO to focus on other things when they are striving to grow their business. When growth is achieved at the expense of profitability of the business, even if only projected to be for a short period of time, the business owner is adding risk to the long-term success or even survivability of the business.