Management StrengtheningThe board appointment of an experienced CFO and an operations/trading director materially strengthens financial stewardship and operational oversight. Over months this can improve treasury, reporting, working-capital discipline and execution of capital-structure initiatives, boosting strategic stability.
Positive Free Cash FlowMaintaining positive free cash flow in 2024, even as operating cash flow fell, shows the business can convert earnings into cash. Durable positive FCF provides a buffer for debt servicing, working-capital needs and selective reinvestment, reducing immediate reliance on external capital if sustained.
Cost Discipline & Operating ProfitabilityH1 2025 results show improved net income and operating profit driven by significant G&A reductions despite lower revenue. Demonstrated ability to cut fixed costs and lift operating profit suggests management can stabilize earnings and improve cash conversion over a multi-month horizon.