On a basic analysis one should back out the increase in inventory to calculate cash profits.
However it is important to note that a great business would be able to generate cash profits in excess of inventory increases.
The other point is this business really hasn't hit scale with only $80M of sales, businesses like this work better on higher volume.
Ann: Appendix 4E, Annual Accounts & Performance Guidance, page-11
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Last
$20.73 |
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-0.620(2.90%) |
Mkt cap ! $881.1M | |||
| Open | High | Low | Value | Volume |
| $21.30 | $21.35 | $20.45 | $552.0K | 26.43K |
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| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4970 | $20.45 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $20.73 | 44 | 1 |
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