Nothing new here. Impressive revenue growth and provided they...

Nothing new here. Impressive revenue growth and provided they can keep it up then JAY should be a winner. They have a formula that is working and they are now scaling out horizontally to more airports. Lots to like about the model.

The only thing of interest I think is the trade payables have gone down while the trade receivables have gone up 67% over the last 6 months. The same with the future transport payments which have gone down and which should be tracking revenue growth. There must have been a change to the business model, but it would be good if this had been explained.