Phoslock Reported Stellar Growth in Revenues in FY19

  • Feb 02, 2020 AEDT
  • Team Kalkine

In Q4FY19, Phoslock Environmental Technologies (ASX: PET) reported revenue of $25.1 million, up 53% on FY18. Gross Profit Margin on Sales was 51.3%, and the revenue split was 85% China and 15% International.

Key Highlights:

  • Four International projects totalling $3.5 million have been moved to FY2020;
  • As at 31 December 2019 the company is debt-free with cash of $15 million and debtors of $17 million;
  • For FY20, the company is guiding the sales forecast of $50 million to $70 million, a 100% increase on FY19.

The stock of PET closed the day’s trading at $0.715 per share on 31 January 2020, down by 3.378% from its previous closing price.

 

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