Fast growing companies need cash to pay for increasing overheads such as staffing, sales, new premises etc Often the cash from sales lags the spend of new investment. CIO is in this position. The thing to look at is the growth in sales being significant and consistent ie making good use and being rewarded for the investment in new resources. This quarters result certainly looks promising with sales 149% vs the pcp.
Cash receipts from the March 2020 quarter represented an increase of 149% from those of
the 2019 March quarter and growth of 51% in annual cash receipts over the last 12 months
for the year ended 31 March 2020.
Additionally COVID-19 seems to be no impediment to growth and from the reports comments providing further growth opportunities.
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