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.
- 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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