So, a Coronavirus resilient business.
Who woulda' thought it?
The most important aspect of this announcement, I think, is not that calendar YTD like-for-like sales accelerated from 2.3% at 27 February to 15.1% (!) since then (for a calendar YTD average of 5.7%, but that the company is starting to receive stock from Chinese-based suppliers.
Because permanent disruption in the company's inbound supply chain was a far greater threat to the business in my mind, than sluggish top-line sales.
TRS generates all its cash flow in the December half-year, and the June half is usually slightly cash flow negative, but this strong sales performance might result in cash flow break-even.
It might even obviate the need for the capital raising.
Ann: Business update, page-2
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