News: ORH Limited quarterly shows positive cashflow

ORH Limited (ASX:ORH) has moved to positive operating cashflow in the first quarter of the new financial year.

Revenue for the quarter of $7.389 million provided positive cashflow of $21,000. This appears a strong turnaround from the previous financial year loss of $1,997,311.

Quarterly income of over $7 million for a company capitalised at just $2.5 million is impressive, particularly given ORH is cashflow positive, debt free and holds over $2 million in cash.

Notably, a company director recently took placement of $1.5 million worth of shares at $0.01 - more than three times the current price of $0.003.

The company raised around 3 million at $0.01 earlier in the year.

ORH is an industrial services group that provides design and manufacturing of trucks and water carriers.