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Construction needs cloud flexibility
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read moredestra claims healthy cash flow
Stan Beer
Thursday, 02 February 2006 06:47
Online music provider and web hoster, destra Corporation Limited (ASX:DES), reported record operating cash flows and continuing improved financial performance through the first half of financial year 2006.
Detailed in its unaudited Commitments Report for the quarter ending 31 December 2005, destra reported positive operating cash flow of $1.5 million for the quarter and $1.6M for the six month period ending 31 December 2005. Improved working capital management and the favourable Christmas trading period significantly boosted operating cash flow results in the second quarter.
Investing cash flows includes the cost of acquisition of the Rajon Music and Video Group (Rajon).
Domenic Carosa, destra CEO, said, "The destra Business division continues to perform strongly and we are delighted with the initial trading performance of Rajon. The Board is confident that the Rajon purchase is delivering outstanding returns to destra. We are committed to the continued growth of Rajon and to realising substantial synergies across all destra Media businesses."
Carosa reaffirmed that the Company is on track to deliver a $1.2 million profit for the full 2006 financial year.
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