Phoslock Reaffirms the Revenue Guidance at $27-$30 Million for FY2019

  • Oct 16, 2019 AEDT
  • Team Kalkine
Phoslock Environmental Technologies (ASX: PET) reaffirmed its FY2019 revenue guidance at $27-30 million.
  • PET holds around 3,000 tons of Phoslock® - a zeolite-based proprietary chemical, in inventory (sale value of $9 million).
  • The company anticipates the sales to range between 4,000-5,000 tons during the period for October to December 2019.
  • The Company remains debt free and held $14.6 million in cash (as on 30 September 2019).
  • Changxing Factory is now producing 20,000 tonnes per annum.
  • The global project pipeline of the company is now greater than $330 million.
As at 1:59 PM AEST on 16 October 2019, the PET stock quoted $1.155, trading down by 3.34%.

 

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