Ann: FY23 Results - ABT Achieves Record Sales Growth in FY23, page-4

Worth noting that at the end of the MQ2023, YTD NPAT was running at $1.275m and the net cash position was $2.4m at the end of March 2023.

This update has full-year NPAT coming in at $1.47m and the year-end cash at $2.05m.

So the June quarter was comparatively sluggish (not so much at the top-line but at the operating profit level) and the business consumed cash in the quarter... presumably an outworking of the costs incurred in relocating business premises as well as having to carry elevated level of inventory.

Of course, the ABV story is not about what happens in one particular quarter; the investment thesis involves a view of what the company will become in two or three years' time.

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