NUF 3.49% $4.60 nufarm limited

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    @smokeyd - from the UK, France, Netherlands and New Zealand subsidiary accounts; you can piece the flows together to get an idea of how it works but very time consuming. The takeaway is that the financing structure is complicated and from experience it doesn't tend to be a good signal when receivables need to be securitised to boost short-term cash flow - especially if they are slow-turning and you have to give up a decent chunk of your margin to fund the factoring.
 
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