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Land & Homes expects negative operating cash flows to continue

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Land & Homes expects negative operating cash flows to continue

Land & Homes Group Ltd. expects the negative operating cash flows it is experiencing to continue as it develops two properties in Brisbane, Australia.

In response to a query from the Australian bourse, the diversified developer cited interest expenses and holding costs related to its 100 Barry Parade apartment project and 207 Wharf Street commercial property as reasons for the guidance. The negative cash flow is expected until the company successfully redevelops and/or sells the assets.

The Australian company also said ongoing related party support will be available to the company, as required, and that it is looking into securing funds from non-related parties to make sure that its working capital requirements are met.