Initially disappointed to see drop in customer receipts from 2.5m last quarter to 1.5m this quarter.
I was hoping to see some flow through of Wings noodle sales announced 22 March.
But then probably too soon for cash receipt to show in this 4C.
Looking at projected manufacturing costs for next quarter is up from 799 to 1,259 which sounds like a growth spurt, but is actually still below previous quarter actual of 1,401. Projected for this quarter was 1,091 (actual 799) so cost of production (stuff manufactured) was 20% below expectation this quarter.
To counterbalance that disappointment and lack of signs of the projected sales of 6m to Wings for this calendar year I suspect that because the sales go through a subsidiary that we will not see any signs in the 4C operating figures until it flows as royalties or profits from the subsidiary.
Bottom line is don't panic, hold my nerve, and await further disclosures and more relevant reporting. Not much can be gleaned from cash flow at this stage.
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