- Net cash from operating activities of $3.0m in Q3 FY2021 compared to $1.1m in Q3 FY2020
- Cash receipts of $14.8m in Q3 FY2021, a 66% increase on $9.0m in Q3 FY2020
- $4.4m in dividends paid on 10 March 2021 related to special dividend of 2cps
- Strong financial position with consolidated net cash of $11.7m and no debt
- COVID-19 Update: Continues to affect some areas of our operations but has also created opportunities to deliver innovative solutions to our customers
Ava Risk Group Limited (ASX: AVA) (“Ava Group” or “the Company”) today provides its quarterly cash flow and activities summary for the period ended 31 March 2021. Ava Group is a global leader in risk management services and technologies through its Future Fibre Technologies (FFT) and BQT Solutions (BQT) divisions and a provider of international secure logistics services via Ava Global.
Ava Group CEO Rob Broomfield said: “Ava Group’s capital light operating model and strategies for delivering positive operating cashflow and EBITDA have resulted in another period of strong growth. Despite the uncertainty caused by COVID-19 in some markets, we have continued to provide our customers with world-leading technologies that ensure the protection and delivery of critical assets. In India, the rollout of our contract with the Ministry of Defence remains on track generating interest from other government agencies and highlighting the merits of our partner model.
We are also excited by the success of our “Proof of Value” trials for our innovative Aura IQ conveyor health monitoring solution which enhances mining safety and performance and represents an important opportunity for future growth. We continue to focus on developing our new multi-year comprehensive maintenance offering, leveraging cross-business opportunities via our strong customer relationships. The Services division continues to perform well growing its share of customer spend and winning new clients as it demonstrates the adaptability of our customer offering in rapidly changing circumstances.”