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11.5¢ weststar industrial limited

Ann: Half Yearly Accounts, page-47

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Pierre83

367 Posts.

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11/03/24

13:56

Post #: 72841349
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Originally posted by edshann: ↑

Just to underline the balance sheet and cash flow puzzle.

Contract assets fell $12.1 million as WSI was paid for work done previously.

Yet operating cash flow was only $2.1 million. That leaves $10 million cash unexplained.

Trade payables fell $18.8 million, so they used freed up cash to pay down payables they had deferred paying at 30 June.

That means a shortage of $8.8 million in cash that had to come from somewhere else.

There was a jump in contract liabilities of $7.5 million which is where money has been invoiced (and maybe paid), but the work is still to be done.

These numbers suggest most/all of the contract liabilities were prepaid and used to reduce trade payables.

However, that suggests that even if profits are earned in the current half year, cash flow could be poor as they do work previously paid for.

Of course profits and margins on current work could jump, or they could let trade payables blow out again or have an increase in contract liabilities over the half year and cash flow could look better.

The directors know what happened last half year, but unfortunately we shareholders do not.

Expand

If I have time I will see if I can make a basic visual assumption of the ledger over the period.

WSI Price at posting: 11.5¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 11.5¢		Change 0.000(0.00%)		Mkt cap ! $13.54M

Open	High	Low	Value	Volume
11.5¢	11.5¢	11.5¢	$242	2.104K

Buyers (Bids)

No.	Vol.	Price($)
2	222181	11.0¢

Sellers (Offers)

Price($)	Vol.	No.
11.5¢	171362	1

View Market Depth

No.	Vol.	Price($)
2	222181	0.110
1	50000	0.105
3	535500	0.100
1	20000	0.099
1	500000	0.090

Price($)	Vol.	No.
0.115	171362	1
0.120	166400	4
0.125	92500	2
0.130	99230	2
0.135	82799	2

Last trade - 16.10pm 07/11/2024 (20 minute delay)

WSI (ASX) Chart