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Some good points here. The cash situation is interesting - they...

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Tedbutt

54 Posts.

7

31/08/22

08:49

Post #: 63423294
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Originally posted by Fumbleball: ↑

Slide 9 is embarrassing.
The ballooning increase in the 6 months between receivables less payables catches the eye as a concern, coupled with disputes still in arbitration. Hopefully cash is well managed along with creditors as work ramps up, but it’s a lack of cash that puts good and bad businesses to the wall.
The chart showing %margin per project is a head scratcher, why? it conveys nothing? Put the projected $$ P&L in there instead, the %s are calculated from $ figures (well I hope they are!!).
The reason/excuse of unavailability of sufficient subcontractors in 2022 is also a concerning comment for a contracting / project business.

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Some good points here. The cash situation is interesting - they have leant on their suppliers more (increased trade payables), have drawn the full $20m on the loan, and a sizable increase in contract liabilities ($14.8m to $41.9m) on the back of advance payments from customers for work yet to be done.

DCG Price at posting: 23.0¢ Sentiment: None Disclosure: Not Held
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