Korvest Reports Annual Results For Year Ended 30 June 2020

  • Jul 26, 2020 AEST
  • Team Kalkine

Korvest Ltd (ASX:KOR) witnessed growth in activity levels and margins across all business units in FY20 ended on 30 June 2020. The improved result was due to higher rates of major project activity in FY20. Some highlights are:

  • 7% rise in the revenue from trading activities at $63.088 million in FY20
  • Profit after tax stood at $4.027 million compared to $2.885 million in the previous year
  • $1.059 million of JobKeeper income is included in the results for FY20

Korvest expects to invest in manufacturing capability, capacity improvements and support strong activity rates in the infrastructure sector.


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