Ann: Annual Report to shareholders, page-4

  1. 425 Posts.
    lightbulb Created with Sketch. 62

    I don't see any issue with WC, looks fairly standard to me, particularly when looked at in conjunction with their Cashflow. CF is more important in my view and is very healthy, its operating cashflow exceeds its investing and financing activities, which for a growing company is pretty good.

    Maybe someone is concerned about Contract assets which are up +$5m (see note 10), this will have gone through the P&L but obviously yet to hit cashflow. Too soon to be concerned about that IMO but is a good pickup.

    https://hotcopper.com.au/data/attachments/6547/6547164-fb0b6192fb4dc49f10ec835dc780329b.jpg

    https://hotcopper.com.au/data/attachments/6547/6547180-136743d849517b43bf16a0cfe89ed61b.jpg
    https://hotcopper.com.au/data/attachments/6547/6547189-a666a00fc17704b0a07b7188732d7670.jpg



 
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