Namoi Cotton Limited (ASX:NAM) has released its Appendix 4C cash flow statement for the quarter ended 31 August 2024, reporting net cash inflows from operating activities totaling $7.53 million. The company also provided an update on its business activities during the third quarter of the financial year 2025.
The company reported a net cash inflow of $7.53 million from operating activities for the quarter, with receipts from customers totaling $300.95 million, compared to operating costs of $280.05 million. Additionally, Namoi Cotton mentioned that 950,000 bales have been ginned at the end of August 2024 from an expected volume of around 1,050,000 bales for the 2024 season. The cotton picking is complete in the northern valleys, but it will continue in the southern NSW valleys until the end of October 2024. ABARES (September 2024) forecasts an above-average total Australian cotton production of 4.5 million bales for the 2025 season, compared to the current 2024 season's 4.8 million bales.
Namoi Cotton Limited's Q2-FY25 cash flow report revealed a net cash inflow of $7.53 million from operating activities, with receipts from customers totaling $300.95 million and operating costs amounting to $280.05 million. The company ginned 950,000 bales at the end of August 2024 and expects an overall volume of around 1,050,000 bales for the 2024 season. ABARES forecasts a total Australian cotton production of 4.5 million bales for the 2025 season. Namoi Cotton's business activities continue to progress, and the company remains optimistic about the upcoming cotton production.