So I'm confused were you contacted to Diploma Group or Norup & Wilson?
If you were contracted to Diploma, what you are owed appears as a trade payable in the balance sheet which totals $34m. Offsetting this is inventories which include $18m that Diploma is owed for contracts and another $50m+ that is the value of development projects. The development projects would be recorded at cost. Pre-sold apartments also need to be settled etc upon completion so it isn't really that big a surprise to me to see these figures high. If they are slow paying though it may be a sign that customers aren't settling or settling slower.
We should hear about Adelaide Terrace in the next week or two, if that completes then it should put close to $10m+ net cash back in while reducing project debt.
DGX Price at posting:
1.0¢ Sentiment: None Disclosure: Held
