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Is this a net net?
At half year they had $10m cash on balance sheet and no debt.
They have received $35 million so far from the insurance payout with more to come.
So maybe $45m in CASH ON THE BALANCE SHEET and no debt and market cap is $33M???
By the sounds of it the flooding and subsequent insurance payout has been a blessing for the company as they can source yarn from overseas and some local and it works better for the business.
I like the story. I like new CEOs coming in changing things and then you see it working, in this case much better margins. I did very well with MHJ and following their new management and watching their margins increase nicely. Could be a similar story here.
New CEO now has lots and lots of cash to invest in Aussie. Very tough market and execution risk obviously.. but with a clean balance sheet and some promising signs in recent performance i am along for a ride.
Operating cash flows slightly negative by $1m but that is put down to the investments and build out of network in Aus.
Could be a multi bagger here.
DYOR enjoy
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