Key points
- Strong cash receipts of $64.2 million in the quarter
- Significant investing activities including $15.9 million for property, plant and equipment
- Successful $102.4 million debt financing to support operations and growth
Full summary
Develop Global Ltd has released its quarterly Appendix 5B cash flow report for the period ended 31 December 2024. The company reported strong cash receipts from customers of $64.2 million in the quarter, contributing to a total of $119.2 million in the first six months of the financial year. Key cash outflows included $23.9 million in staff costs, $27.0 million in cost of sales, and $15.9 million for property, plant and equipment investments. The company also made a $7.3 million payment to acquire an entity during the quarter. On the financing side, Develop Global secured $102.4 million in new borrowings, which will be used to support the company's ongoing operations and growth initiatives. The quarter ended with a robust cash balance of $112.2 million and $45.3 million in unused financing facilities available.