I noticed that on page 10 of their FY16 results released 26 August 2016, they say that as of 30 June 2016 their cashflow was impacted by two things totalling $13m - "Hastings timing" at $8m and "Past due amounts" of $5m. If you assume that this $13m was collected in 1H17, then the alleged $7m cash positive position during the half actually becomes -$6m. This corresponds with the Hastings loss. If you then factor in the increased (but still very low) occupancy at the village, the balance of the construction business was cash negative during 1H17.
It seems strange that they would pay a dividend in this context.
I noticed that on page 10 of their FY16 results released 26...
Add to My Watchlist
What is My Watchlist?