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Small change: Slattery’s Megaport suffers from conversion error

Megaport has confessed to a error in its quarterly report which may have been a factor in its 20 per cent fall on the market yesterday.

Oct 20, 2022, updated Oct 20, 2022
Former Megaport CEO Vincent English. (Pic, supplied)

Former Megaport CEO Vincent English. (Pic, supplied)

The company, which is within tech entrepreneur Bevan Slattery’s stable and headed by Vincent English, put out a correction in the Australian dollar conversions of its cash flow.

The correction reduced several line items in its cash flow.

Capital expenditure dropped from the original -$16 million to -$14 million, cash flow from investing dropped from -$15.8 to -$14.2 million.

Net cash flow changed from -$13.9 million to -$12.3 million.

The restatement may not have helped. Megaport’s shares fell another 10 per cent this morning.

 

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