rxp buy recommendation, page-51

Hi ,
Yes its difficult to know what they want to do with that cash. But they are so asset light with a huge amount in goodwill that having that cash makes the balance sheet look better , in view of the fact that payable section is heavy in comparison
I want to see positive operating cash flow quarter on quarter on increased sales ...a simple measure i will be judging them on and my decision to hold will be based on that. I am not a great fan of companies based on this model (acquisition and integration), but am relying on fielding's expertise to achieve integration successfully.
I have been happy with their previous report.