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06-08-2014, 10:42 AM
not so good in my opinions:
1) inventories went up by SGD 30.5 mln, a very high number considering a challenging luxury watch environment. What's the reason behind this? is this for the non-watch related businesses?
2) as a result working capital investment was SGD 40.8 mln, almost a record high
3) as a result net cash dropped 43%
4) as a result days of inventory outstanding jumped to 204 days from just 184 days last year.
ability to be profitable is one thing, ability to manage working capital and still generate reasonable cash flow under challenging environment is another thing. I think the later one is more crucial at this moment.
1) inventories went up by SGD 30.5 mln, a very high number considering a challenging luxury watch environment. What's the reason behind this? is this for the non-watch related businesses?
2) as a result working capital investment was SGD 40.8 mln, almost a record high
3) as a result net cash dropped 43%
4) as a result days of inventory outstanding jumped to 204 days from just 184 days last year.
ability to be profitable is one thing, ability to manage working capital and still generate reasonable cash flow under challenging environment is another thing. I think the later one is more crucial at this moment.