Positives:
-Staff costs down 17% from Q1
-Product manufacturing down 18% from Q1, good work Scott Bliss.
-Nice to see they have finally split "other working capital" into product manufacturing and "admin/corps costs", which slightly dropped by 21k from Q1 to Q2. Even with new head office opening in US.
- CardioCel sales increased by 19% over Q1 (1.6m to 1.9m)
- H2 expected to be stronger than H1, based on history. Will smash $21m forecast.
Negatives:
-Increased lag between sales and cash receipts, expect to see a large receivable balance at 31 Dec due to US financial year end.
Watch out for the tree shake today.
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