yes it’s not a problem that FXL carries the debt for longer but it does mean if people just eyeball the accounts quickly without really understanding how the companies operate, they will see APT with a long term debt of say 50 million and then you look at Flexi and you will see a long term debt of 900 million and it gives rise to beliefs that Flexi is heavily in debt.
if you think about it Flexi is making around 65 million in Cash NPAT after tax, so it’s retaining around 45 million in cash after paying dividends. Gives it a fair whack of money each year for debt reduction (or growth).
Buckle up for $2, page-1428
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