Just on your point of the weak cashflow for FY24, and in particular the increase in Receivables at 30 June 2024 (ie. higher WC), management have indicated in the past that cash inflow is highest when major projects end. My understanding is that two projects will complete in early FY25 and that should unwind the Receivables position and boost operating cashflow for the 1H25 period.
With regard to the profit outlook, I'd imagine the start of FY25 could be weaker bearing in mind the strong pcp (1H24) where NPAT was up 26%. Things could strengthen if further new projects are secured (although management don't seem to announce these when successful). And hopefully that extra capacity in the NSW operation can be put to good use soon. After all, with all this electrification going on, there's bound to be rising demand for cable trays, ladders and clamps etc.
Just on your point of the weak cashflow for FY24, and in...
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$10.13 |
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Mkt cap ! $118.9M | |||
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| KOV (ASX) Chart |