Ambri reduces annual cash expenditure by 41%30/07/04 By: Sarah...

Ambri reduces annual cash expenditure by 41%
30/07/04 By: Sarah Richards

Sydney-based Ambri Limited (ABI) today announced that its net operating cash outflow for the June quarter was $2.8 million, while cash on hand at the end of the quarter was $20.2 million, down from $23.1 million in the previous quarter. The company however, highlighted that the total annual cash operating and capital expenditure of $11.8 million was $8.3 million or 41% below the corresponding year expenditure of $20.1 million.


"We are very pleased that the expenditure levels have been contained over the last 12 months," commented CFO Mr Jeff Carter.

"The restructuring of the company, undertaken last year, has delivered a reduced operating cost base."

He claimed that the company has been very diligent in the use of its cash resources during its pursuit of the CVT milestone.



"This will occur after the Ambri board has considered the report of its Point of Care Advisory Group," he added