In its earliest monthly 4C report yet, TMS has this morning reported $7m in revenues for April ($48M YTD), with net operating cash flows for the month of $2.431m ($6.985m YTD).
$822K was repaid in borrowings for the month ($7.858m YTD), whilst month end cash increased to $3.698m (was $2.452m at end March).
Loan facilities have been further reduced to $35.198m (was $36.020m at end March).
Last July, TMS' borrowings stood at $45.534m.
Borrowings have now been reduced by $10.35m during the last 10 months, aided by last year's capital restructuring, and by the business generating ~$7m in net cashflows for YTD FY04.
Looking ahead, there is still the prospect of additional payments coming from the US cinema exit (revenue sharing arrangement), and from any further re-zoning of TMS' Sydney facilities (previously sold, but subject to a profit share arrangement dependent upon certain rezonings being approved).
There is also the continuation of Big Brother, as well as the AFL and NRL O/B activities.
TMS Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
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