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ComOps releases Appendix 4C Cash Flow Report 31 March 2017

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ComOps releases Appendix 4C Cash Flow Report for the Period Ended 31 March 2017 (Q1 2017)


Sydney, 28 April 2017 ‐ ComOps Limited (“ComOps”) is pleased to release its Appendix 4C Quarterly Cash Flow Report for Q1 of the 2017 Financial Year as required by LR 4.7B.


  • - Tracking closely to budget for the quarter and year to date to 31 March 2017.
  • - Cash balances maintained at $0.6 million, although Q1 operating cash flows were negative due to the continued accelerated investment in development and operating capability.
  • - The remainder of FY2017 is expecting to be operating cash flow positive with increasing cash balances.
  • - Baker Young Stockbrokers initiated research coverage on ComOps.
  • - Business continuing to gain positive momentum:
    • Successful go-live of the Rostima Aviation solution for Globalia in Spain and as reported during the quarter, the move to Phase 2.1 airports in Palma and Ibiza.
    • Queensland Dept. of Justice and Attorney-General (DJAG) selects ComOps Salvus for its Workplace Health, Safety and Risk Management solution.
    • A number of Retail and Hospitality clients are expanding the ComOps WFM product nationally and assessing a global roll out to support their international operations.
    • New modules developed as part of the accelerated investment in the new WFM-Ports product including leave planning and management module, landside equipment planning and soft rule override in scheduling rules.
  • Implementation of the new ComOps WFM – Ports product is progressing well at the previously reported major Middle Eastern port, which is ranked in the top 20 container ports in the world (in TEU volume) and is part of one of the Big Four global operators. The current position is:
    • Stage 1-3 – Implemented, with User Acceptance Testing (UAT) underway and client sign off expected in Q2.
    • The Stages include Rostering with Administrative Employees, Interface of Time & Attendance System and new version release with Port Specific enhancements.
    • Stage 4-6 - Scheduled for implementation, completion, testing and go-live in Q2 and Q3 2017.
    • The Stages include Leave Management Functionality, Rostering all employees, Interface with IFS Payroll System & System.
    • A successful implementation positions ComOps for significant market growth from not only the existing ComOps and Rostima customer base, the Big Four global operator implementing the new ComOps WFM Ports but also the wider market.

Closely tracking to the YTD financial budget, the quarter saw negative operating cash flows of over $0.7M after adjusting for investment costs associated with the continued fast tracked investment in operating capability and development of ComOps’ new WFM product.

Looking forward, ComOps is forecasting to be operationally cash positive with growing revenues for the remainder of FY 2017. The continued investment in new hires in sales, presales, ports’ consulting and senior management capability will drive momentum in the business and continue to strengthen the overall capability of the Company.

The full Appendix 4C quarterly report is available for download by clicking here.