Interesting - ignoring any stock movements, average vehicle unit sale is £85k, up from £74k the prior year. At least the borrowings haven't increased significantly in year despite the £4m loss, so maybe there is a prospect of positive cashflow if sales can be increased further without increasing overhead costs...I certainly hope so.
Cash at bank fell, I think its an increase in creditors, that is helping with funding the working capital ............rather than cash flow.....maybe improvement in stock usage and turn may have helped, but there were significant writeoffs as in the previous year affecting the bottom line that usually have no cash implication. Much was made of the implications of the HSBC line of credit renewal around about now, in the notes to the going concern. Good sign in that sales of units are up on the previous year,at a higher unit value and the opening of the US market, should help the current years sales of units, cash flow and hopefully profitability..
