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Thanks, @APJAPJ, So I take it you didn't notice that JH's cash...

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  1. madamswer
    7,936 Posts.
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    30/08/16
    15:32
    Post #: 18796509
    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?)
    AMA Price at posting: $1.05 Sentiment: None Disclosure: Not Held
    Likes Created with Sketch. 1  Upvote
    lightbulb Created with Sketch.  Great analysis
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