No idea why the market has not been picking up on this turnaround story:
Sydney - Friday - July 31: (RWE Australian Business News) -
Solco Ltd (ASX:SOO) today reported its third consecutive quarter where
it generated a net operating cash flow of at least $1m.
The cash flow of $1.09m was achieved on receipts from customers
of $9.34m.
Cash at bank was $4.54m at June 30.
Increased sales for the final quarter from the continued uptake
of solar PV products were largely driven by the Solar Homes and
Communities program and falling solar system pricing.
Sales revenue from operations increased 46pc to $8.61m, compared
with the corresponding period in the 2008 year.
Notwithstanding finalisation of the Solar Homes and Communities
Plan's rebate, there is a significant backlog of system installs that
Solco believes will continue through to at least the end of this
calendar year.
This has been caused largely due to unprecedented demand in the
final weeks of the program.
Although legislation has not yet passed for the replacement
Solar Credits program, Solco expects this to occur during the first
quarter this year and for demand to increase during quarter two.
Based on the strong growth experienced and the expected demand
in the first half, the company has invested in growing its stock level
to $6.8m from $5.26m at the end of the third quarter.
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