Scott Technology (SCT)•FY21•Released 21 October 2021EBITDA swung to $22.1m on a 1,000bps gross margin gain, but OCF fell 31.4%Revenue rose 16.2% and gross margin doubled to 23%, yet $6.3m working-capital absorption masked the underlying cash translation.Published 22 April 2026Read briefing→
AoFrio (AOF)•HY21•Released 25 August 2021AoFrio swings to $0.6m profit on 49.2% revenue rebound as net cash buildsOperating cash flow tripled to $3.1m on a strong demand recovery, but the comparable was COVID-depressed and capex fell to near zero.Published 23 April 2026Read briefing→
Blackwell Global Holdings (RTO)•FY21•Released 31 May 2021Operating cash collapsed 94.3% as equity eroded 61.9% to $0.3mA narrower $0.4m loss on 21.1% revenue growth is overshadowed by near-total operating cash collapse and a thin equity base following the issuerPublished 23 April 2026Read briefing→
AoFrio (AOF)•FY20•Released 26 February 2021Revenue fell 40.2% on COVID, swinging PBT to a NZ$2.0m lossBoth Motors and IoT segments turned negative, though a working-capital release lifted cash to NZ$4.6m despite the earnings reversal.Published 23 April 2026Read briefing→
Wellington Drive Technologies (AOF)•HY20•Released 27 August 2020Revenue fell 38.5% and NPAT swung to a $0.8m loss in H1 2020A $4.8m equity uplift lifted total equity 64% but operating cash fell, the business swung from net cash to net debt, and both segments lost money.Published 22 April 2026Read briefing→
AoFrio (AOF)•FY19•Released 28 February 2020Wellington's maiden NZ$0.4m profit on IoT mix and 71% EBITDA liftEBITDA margin doubled to 6.8% as IoT revenue rose 31.6%, but a NZ$7.6m working-capital release flatters the cash result and merits a durability check.Published 22 April 2026Read briefing→