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Headline

A&O adds £21m to war chest after cashflow drive

Comment

Reducing 'lock-up' from 138 to 131 days is not something to crow about. It is indicative of institutionalised behaviours concerning the provision of credit. Assuming the sum is approximately equally divided between unbilled WIP and debtors the message is clear; A&O are giving clients an average of nearly 4 and half month's free credit on every bill. Is this the way to run a large business? 90 days lock-up is an achievable goal. I am surprised the banking community hasn't reacted tooa competitor in their midst who provides free credit.

Posted date

7-Sep-2011

Posted time

10:29 pm

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