Thanks, @APJAPJ,
So I take it you didn't notice that JH's cash flow was boosted by a $20m release of working capital (notably a $20.6m reduction in Receivables)?
(Resulting in Working Capital to Sales finishing the period at negative 3%, which compares with the historical average level of around 10%. Surely this is not a negative working capital business on a normalised basis?)
Ann: Appendix 4E and Annual Report-AMA.AX, page-20
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