Jun 14 2022, 04:31 PM
QUOTE(Boon3 @ May 27 2022, 08:31 AM)
So Genetec reported (finally) its Q4 earnings yesterday.
Yearly sales 'improved' so much. From 97 million it soared to 223 million. Sales grew by 126 million.
Yearly profit went from a 4.3 million losses to a profit of 58 million. What an 'improvement'...
A year ago, customers owed them 19.2 million. Now customers owed them 155 million.
Which means despite sales growing by 126 million, sales debtors increased by 134 million.
OMG! Sales debtors increasing more than sales....
Does Genetec even collect money from their sales???
Inventories increased.
Receivables increased.
Cash remained the same ***
Borrowings rocketed
Payables increased.
All at the same time.....
Yeah... cash balances remains at around 31 million but... that's only because it had a 18.5 million share placement and borrowings increased by 79 million!
Oh wait....but the company 'said' it had a net profit of 58 million.
Ain't that something?
58 million in profits but clearly there isn't any collection. For one year??? One year, this company no need to collect money?
What business does Genetec do that doesn't need to collect money?
@@
Can a profit be a profit if money isn't collected?
@@
Well? Highly suspect isn't it? Either it's a lousy company or ..............................................................
The edge featured the following.................Yearly sales 'improved' so much. From 97 million it soared to 223 million. Sales grew by 126 million.
Yearly profit went from a 4.3 million losses to a profit of 58 million. What an 'improvement'...
A year ago, customers owed them 19.2 million. Now customers owed them 155 million.
Which means despite sales growing by 126 million, sales debtors increased by 134 million.
OMG! Sales debtors increasing more than sales....
Does Genetec even collect money from their sales???
Inventories increased.
Receivables increased.
Cash remained the same ***
Borrowings rocketed
Payables increased.
All at the same time.....
Yeah... cash balances remains at around 31 million but... that's only because it had a 18.5 million share placement and borrowings increased by 79 million!
Oh wait....but the company 'said' it had a net profit of 58 million.
Ain't that something?
58 million in profits but clearly there isn't any collection. For one year??? One year, this company no need to collect money?
What business does Genetec do that doesn't need to collect money?
@@
Can a profit be a profit if money isn't collected?
@@
Well? Highly suspect isn't it? Either it's a lousy company or ..............................................................
https://www.msn.com/en-my/money/topstories/...1391fb4#image=2
Near the end....
At the same time, it is worth noting that Genetec’s debt and trade receivables have spiked tremendously in recent years (see bar chart). Total borrowings increased from RM18.3 million in FY2021 to RM98.15 million in FY2022, while trade receivables swelled from RM19.2 million in FY2021 to RM154.88 million in FY2022.
Chin appears unfazed.
“Genetec is in a growth phase. This is consistent with the industries we service, and we are mindful to ensure that our growth is sustainable over time. Prudent financial management and discipline have been key to our long-term success,” he maintains.
LOL!
unfazed wor......
Nice! Doing business without collecting money.... and meanwhile, just borrow more money.
Hahahahahaaaaaaaaaaaaaaaa
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