Ann: FY22 Full Year Results Presentation, page-5

Slide 9 is embarrassing.
The ballooning increase in the 6 months between receivables less payables catches the eye as a concern, coupled with disputes still in arbitration. Hopefully cash is well managed along with creditors as work ramps up, but it’s a lack of cash that puts good and bad businesses to the wall.
The chart showing %margin per project is a head scratcher, why? it conveys nothing? Put the projected $$ P&L in there instead, the %s are calculated from $ figures (well I hope they are!!).
The reason/excuse of unavailability of sufficient subcontractors in 2022 is also a concerning comment for a contracting / project business.