OneVue posts positive cashflow
Provider of wholesale services to the wealth management industry, OneVue has posted its fourth consecutive quarter of positive cash flow as at the end of March.
In an announcement to the Australian Securities Exchange (ASX), OneVue said that cash balances at quarter end stood at $26.5 million, with net cash of $16.5 million.
At the same time, net cash from operations for the quarter was $0.75 million and after acquisition and integration costs of $0.45 million net cash from operating activities stood at $0.29 million.
During the quarter, the company also completed the final operations integrations for the acquired Diversa business.
OneVue’s managing director, Connie Mckeage, said: “Our operating performance for the quarter was in line with expectations and we continue to see increasing benefits of scale as the business grows.
“We look forward to benefiting from the contribution of the integrated Diversa business in the remainder of this financial year and into FY18.”
AUTHOR
Oksana Patron
Recommended for you
Bentham Asset Management has become the latest fund manager to expand its distribution team as it reports increased interest in its credit strategies.
L1 Capital, which is in talks to merge with Platinum Asset Management, has indicated it will be voting against a deal to convert a Platinum LIC into an ETF.
Evidentia Group has hired a head of quantitative investments who joins the investment firm and managed account provider from AMP.
Fidelity International has worked in tandem with Australian wealth manager Emanuel Whybourne & Loehr to launch an actively managed global equities strategy aimed at financial advisers.
