Not sure. It could actually be that they didn't pay their suppliers in full before end of June and that is catchup in first quarter. Thats why I hate 4C's - should get the company to show net wprking capital movements to be sure of trading.
I hope its an increade in business activity but the vost of sales percentage is much lower this quarter vs the year.
Ann: Appendix 4C - quarterly, page-78
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