– Stronger cash flow from operation has been achieved in 3Q16, driven namely by reductions in debtors and inventory.
– Pleasingly, the once off imbalance in the first half between operating payments and collections, due to the net assets acquired in the recent acquisitions, in now being redressed with a stronger conversion of earnings to cash.
– The Company’s cash management regime has been strengthened following the employment of a National Credit Manager to ensure application of trading terms with customers is consistent across the Group.
– Initiatives to optimise inventory holdings have been implemented throughout the Group, these measures will deliver even stronger cash flows from operations in the future."
Those comments have certainly made me more confident about the current performance ...
PGC Price at posting:
60.5¢ Sentiment: None Disclosure: Held
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