Hah, what are the chances?
Even with this return of capital, there's a good amount of cash still within the business. Given they generate cash before providing the service, they have some serious cash flow benefits that most don't.
Should they grow much larger, they'd be able to use this cash like a float (i.e. negative working capital), much like Navitas does. In this case though, people pre-pay up to 20years in advance for some services, rather than just the 1-2years for education.
@petepan - Also worth mentioning, just came from the SSM AGM. Will post some thoughts on it tonight.
Hah, what are the chances? Even with this return of capital,...
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