Adairs in no doubt needs to take out debt to pay Mocka $45m and the final dividend $17m, while having only $25m in the bank to cover everything from A to Z, including stocking up the spanking new DC.
I feel Adairs has made a heroic effort in paying out 10c final divvy this time given the cashflow position.
The financials would be better beyond FY22 when the one-off Mocka payment is out of the way and new cash flowing in.
Ann: ADH FY2021 Results Announcement, page-24
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