Ann: Preliminary Final Report, page-13

Hi Mars you could be right, however, my reading of the cashflow statement was net change of $34m in contract liabilites (total of $47.7m). It worth noting too that I believe a decrease in other provisions ~$12m maybe due to tax breaks over covid? I'm not 100%. So the cash figure is no doubt inflated. In terms of the working capital - why would this be higher? The construction job has been sold, and the client has paid upfront for works. This allows LYL to now engage sub-contractors to complete the project. That's my basic understanding at least. The working capital requirements should not be effected I don't think, if anything, the dynamic's would be positve.