Did anyone see this announcement by ASC. By my reckoning the Company is trading on 2x cash off growth of 45% per quarter. I feel I May be buying these.
Does anyone have any infomation?
Simon
ASC - ASX Company Announcement $ret1 THIS IS A PRIORITY ITEM 30 April 2002 Part 1/1 -------- ADULTSHOP.COM LIMITED ---------------------
HOMEX - Perth ------------------------- A$5.8m net operating cash flow for ASC in 3rd Qtr.2001/2002
AdultShop.com Limited today released its cash flow statement for the third quarter 2001/2002. The Company posted a positive net operating cash flow of A$5.772 million.
MARCH 2002 DEC 2001 CHANGE QUARTER QUARTER A$ million A$ million A$ million
Receipts from 32.479 22.736 + 9.743 Customers Net Operating Cash 5.772 4.905 + 0.867 Flow Total Net Cash Flow 5.227 4.499 + 0.728 Cash at End of Quarter 11.888 6.661 + 5.227
ONGOING GROWTH AND STRONG PERFORMANCE
The increase in net operating cash inflow is a result of:
* the successful implementation of various growth opportunities in the online entertainment business;
* a general improvement in business trading conditions across the whole AdultShop.com group.
OUTLOOK
The third consecutive quarter of increasing positive operating cash flows has reinforced the success of the sales initiatives applied in the online entertainment division. The Directors of AdultShop.com expect the strong positive cash flows generated by Today's Success to continue in the coming quarters.
Malcolm Day, Chief Executive Officer of AdultShop.com Limited, stated: "As planned, the increase in cash reserves will enable the Company to allocate cash resources to internal growth opportunities, particularly in the area of online entertainment, and review potential acquisitions." He added: "The path to financial and operating success has been clearly set out and management are highly motivated to fully capitalise on the available opportunities."