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E-commerce closes financial year with strong cash flow said it has ended Q4 with $32.0 million in cash, according to a trading update released today.

The online electronics and general merchandise retailer said strong trading momentum continued in the quarter ending 30 June 2017, with business exceeding revised management budgets and producing net operating cash flows of $9.9 million.

The company said it has inventory of $38 million, comprising $30.6 million on hand and $7.5 million in transit. A $2.8 million increase in trade and other payables and $2.1 increase in deferred income have also had a positive impact, according to founder and CEO Ruslan Kogan.

“We are pleased to deliver cashflows that demonstrate better than forecast operating results for’s fourth quarter of trading as a publicly listed company,” he said in a statement.

“We have closed out our first financial year as a listed company with strong trading momentum, and some very exciting growth opportunities. We look forward to continuing this trend into FY18 and beyond.”

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