Gullewa Limited - Quarterly Cash Flow Report - June 2024
GUL (GUL) Share Update July 2024 Tuesday 23rd
Gullewa Limited Reports Strong Cash Flow and Financial Stability
Gullewa Limited (ASX: GUL) has released its quarterly cash flow report for the period ending June 30, 2024, highlighting robust financial performance and strong cash reserves.
Instant Summary:
- Net cash from operating activities: $1,052,000 for the current quarter.
- Total cash and cash equivalents at the end of the period: $8,551,000.
- Proceeds from the disposal of property, plant, and equipment: $344,000.
- Payments to related parties and their associates: $329,000.
Financial Performance Overview
Gullewa Limited has reported a net cash inflow from operating activities of $1,052,000 for the current quarter, bringing the year-to-date total to $2,163,000. This positive cash flow is primarily driven by receipts from customers amounting to $954,000 and dividends received of $22,000.
Interest received during the quarter was $81,000, contributing to the overall positive cash flow. Payments for administration and corporate costs were $376,000, reflecting the company's efforts to manage expenses effectively.
Investing Activities
In terms of investing activities, Gullewa Limited reported proceeds of $344,000 from the disposal of property, plant, and equipment. This was offset by payments of $52,000 for the acquisition of property, plant, and equipment, resulting in a net cash inflow of $343,000 from investing activities for the quarter.
Financing Activities
On the financing front, the company reported a net cash outflow of $50,000, primarily due to proceeds from borrowings amounting to $50,000. The year-to-date net cash used in financing activities stands at $672,000.
Cash Position
As of June 30, 2024, Gullewa Limited's cash and cash equivalents totaled $8,551,000, up from $7,206,000 at the beginning of the quarter. This strong cash position underscores the company's financial stability and its ability to fund future operations and investments.
Payments to Related Parties
The report also highlights payments to related parties and their associates amounting to $329,000 for the current quarter. These payments include salaries and director fees, reflecting the company's commitment to transparency and compliance with regulatory requirements.
Gullewa Limited's strong cash flow and robust financial position are likely to have a positive impact on its stock price. The company's ability to generate positive cash flow from operating activities and maintain a healthy cash reserve is a positive signal to investors. Additionally, the proceeds from the disposal of assets indicate effective asset management, which could further boost investor confidence.
Investor Reaction:
Analysts have reacted positively to Gullewa Limited's quarterly cash flow report, noting the company's strong financial performance and healthy cash reserves. Investors are likely to view the report as a positive indicator of the company's financial health and future growth prospects.
Conclusion:
Investors should keep an eye on Gullewa Limited's future financial reports and strategic initiatives. The company's strong cash flow and financial stability position it well for future growth and investment opportunities. Staying informed about Gullewa Limited's financial performance will be crucial for making informed investment decisions.