• Net negative operating cash flows of $0.9m
  • Cash flow in accordance with expectations due to the anticipated reduction in orders during the holiday period.
  • Consolidated cash position of $8.2m, with no debt

Future Fibre Technologies Limited (ASX: FFT), a market leader of risk management services and technologies, today released its Appendix 4C for the quarter ended 31 March 2018.

FFT’s net operating cash flows were negative $0.9m for the quarter, the first to incorporate a full period of MaxSec Group Limited (“MaxSec”) operations. The Group’s cost saving initiatives are beginning to materialise as the integration programme continues to plan with annual operational cost savings of just under $1.0m anticipated once completed.

The Company finished the quarter with $8.2m cash at bank, which included $1.3m of cash from the consolidation of MaxSec in which FFT holds an 86.8% controlling stake.

Gross forecast cash outflows of around $7.5m are expected for next quarter. This excludes cash inflows from customer payments.

FFT Group Chief Executive Chris Fergus said: “FFT experienced a productive quarter with cash flow in line with expectation. The Company also reaffirmed its sales revenue guidance for FY2018 and remains focussed on converting FFT’s strong sales pipeline into revenue during the final months, as well as creating a strong platform for FY19 and beyond. We are also pleased with the integration process to date and can confirm that we are well positioned to leverage the individual strengths of FFT, BQT and AVA Global to build a global security industry network with the experience, expertise and infrastructure to jointly promote and deliver our respective products and services.”

About FFT Group

FFT Group is a market leader of risk management services and technologies, trusted by some of the most security conscious commercial, industrial, military and government clients in the world.

The Group features a range of complementary solutions including intrusion detection for perimeters, pipelines and data networks, biometric and card access control, a range of high security locks as well as the secure international logistics and storage of high value assets. Through decades of innovation, the FFT Group continues to build upon a comprehensive portfolio of premium services and technologies for the most complex and demanding markets.

View Appendix 4C