Post #85 by EVBigMacMeal on the Non-US Stocks board

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Operation cashflow less all capex (maintenance and growth) might have decreased due to major investment in new distribution centre.

FCF is operating cashflow less maintenance capex (only) and has been growing strongly with earnings.

Greggs CFO has stated that maintenance capex is 5% of revenues.

But I need to check properly. Hopefully that makes sense?

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