amazing for the believers who bought from $10 to $58 this year; currently $17 billion market cap fully diluted
but looking at this March 2020 quarterly report, my view is:
1. half to half sales growth is declining. for example 2H18 grew 44% from 1H18; 2H19 grew 26% from 1H19; 2H20 may grow 10% from 1H20.
2. I had to laugh at the statement of "
highly profitable pre EBITDA pre share-based payment expenses".
![Stick Out Tongue clear.png](styles/default/xenforo/clear.png)
3. Also, i had to laugh the statement: "
underlying cash flow positive" but i will wait & see. Based on what i read in the financials, there was a massive $342M operating cash
outflow for the last half ending 31/12/19; together with an expected increase in Receivables. Therefore, obviously, the Receivables will come home this half to compensate for last half's massive cash outflow. In other words, i personally doubt APT will be cash-flow positive for the entire 12 months ends 30/6/20.
regards
![Big Grin clear.png](styles/default/xenforo/clear.png)