Aumake International Ltd reported for strong June 2018 quarter performance

  • Jul 17, 2018 AEST
  • Team Kalkine
Aumake International Ltd reported for strong June 2018 quarter performance

Strong June 2018 Quarter Performance: Aumake International Ltd.’s (ASX: AU8) stock surged 12.50% on July 17, 2018 after the company gave operational and financial performance update for the June 2018 quarter. During the June quarter 2018, the company reported 37% rise in sales to $7 million and 31% increase in gross profit to approximately $1.08 million on the prior quarter. The company has posted strong same store growth of 19% (sales) and 10% (profit) over the March 2018 quarter. AU8 expects to achieve the  total operational cost breakeven during the FY 19. At the end of the June quarter 2018, the company had cash at bank of $10.7 million and $3.6 million in inventory. Moreover, AU8 is focusing to leverage its leadership position to open distribution channels in China to provide exponential growth opportunities. Additionally, for September 2018 quarter, the company expects strong growth outlook with further consistent financial improvement. The new revenue stream with high margin got added from promoting Australian brands into China, and the company expects approximately $120,000 in receipts with further forward booked orders in September 2018 quarter. However, AU8 stock witnessed fall by 27.27% in three months as on July 16, 2018.

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