Originally Posted by
MickG0105
They blew through $1.3 billion of their cash but only added $137 million in interest bearing liabilities. Net debt is up by $1.2 billion to $5.9 billion, which is approaching the upper bound of their target debt range.
They start this current FY with $2.2 billion in cash and $1.58 billion in undrawn facilities for a liquidity position of $3.8 billion, down by only $724 million on the previous year. Not great, not terrible to borrow a line.
Given that revenue was down by $12 billion last FY they've managed this pretty well to date. Given their current position they could certainly manage their way through another year like the last one.
MickG0105 I do love that you quoted a now infamous line from Chernobyl, in the context of understating a disaster.
Seriously, though, thanks for the concise summary and snapshot of QF's financial position.