Locality Planning Energy Holdings Ltd (ASX:LPE) has achieved improved operating performance leading to its first cash flow positive quarter ending 31 December 2017.
The alternative energy retailer holds an Australian Energy Regulator (AER) license to sell electricity and utility services throughout the national electricity market.
Locality Planning specialises in electricity sales to strata communities, generating significant savings on electricity delivered to its customers.
The company has a unique technology of sending the energy to its embedded network, thereby splitting network charges amongst the community members.
Cash balance of circa $2.65 million at the end of the quarter
Locality Planning’s operating performance in achieving cash flow positivity for the December 2017 quarter was in line with its expectations despite some unavoidable costs.
The company recorded a net positive cash flow of $23,000 for the quarter.
Cash balance at the end of the quarter was circa $2.65 million with positive cash flow expected to improve in the coming quarters.
Whilst Locality Planning’s primary target markets are residential strata communities, other strata community segments have been identified to broaden and grow the company’s customer base.
Locality Planning is expected to update the market soon with regards to the details of a new debt facility.