Advance NanoTek Expects its NPBT 2.5 times Above FY2019

  • May 11, 2020 AEST
  • Team Kalkine

Advance NanoTek Limited (ASX:ANO) expects its NPBT for FY2020 to be ~ $8.4 million, 2.5 times above FY2019. The estimation is based on anticipated turnover of $18 million, up 46% on FY2019 which would depend on no further adverse market situations or delays in any further sales orders.

The company had been discussing with its distributors in the US which suggested that the manufacturing of the sunscreen has started, although at small volumes. ANO expects volumes to return to normal, at this stage in the US. Meanwhile, the company has established stockpiles in a central US logistics facility to take the benefits of the expected upturn in market conditions

At AEST 12:08 PM, ANO shares are trading at $5.230, up 11.514% frpm its previous close.            


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