The SCREENS.tv Blog
Focus: still waiting for the money... (0)
Barnaby Page - 19 Aug 08, 17:15 PM
A while back I wrote about worries that Focus Media in China might run up against cashflow issues...and it seems the grounds for concern are still there.
While Focus's latest quarterly results continue to show spectacular growth in most areas other than in-store TV (which should improve once the restructuring necessitated by the CGEN acquisition has been completed), accounts receivable are still sitting unpaid for an average 124 days, little better than in the previous quarter.
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