NCR AMA Group's Carl Bizon
Published on February 4th 2022 in

Is AMA Group showing early signs of recovery?

AMA Group has released its quarterly cash flow and activities report to the Australian Stock Exchange, giving an insight to the business ahead of the release of the half yearly results later this month.

In summary, although the business continued to be COVID-affected in the December quarter with reduced repair volumes in New South Wales and Victoria, a range of initiatives resulted in $9.8m cash used in operations, an improvement of $3.0m over the June quarter. Difficult decisions related to the workforce in light of the reduced volumes were the biggest significant factor in the improvement in operation cash flows.

Strengthening the cash position was $44m net proceeds from financing activities related to the recent retail entitlement offer, which together with other investing activities resulted in an improvement of $18.3m in the Group’s net cash position in the December quarter.

Although the industry is coming to grips with the ongoing impact of the Omicron variant, it is expected that volumes will return to some degree of normality in the longer term. AMA Group’s cash position, together with prudent cash management, suggests it is well positioned to manage the ongoing uncertainty.

AMA Group CEO, Carl Bizon said: “This is an incredibly difficult time for so many on our AMA Group Team and more broadly in our communities. I thank each member of our team for their hard work and dedication, in what is a very difficult set of circumstances, from those unwell or self-isolating at home, to their teammates working on the floor with reduced staffing levels. Everyone’s commitment to ensuring we are there for our customers has been second to none and I am grateful for the Teams efforts.”

To read the full announcement visit:

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