Working Systems in the black

WORKING Systems Solutions has announced a positive cash flow for the quarter ending June 30, in line with prospectus forecasts.

CEO John Wreford said the company’s cash status placed it in an ideal position to expand its eastern States’ operations and level of business in Singapore.

“Our business activities generated positive cash flow of more than $600,000 in the June quarter, which provides more cash for future acquisitions,” Mr Wreford said.

During the last quarter, Working Systems earned $1.861 million from customer receipts, taking total customer receipts in the five months since the company was formed to $2.194 million.

The company recently acquired Melbourne-based health management systems specialist Bourke Johnston Systems Pty Ltd.

Mr Wreford said it was estimated the acquisition would add 16 per cent, or about $1.5 million, to Working Systems’ 2001 forecast revenues.

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