ELS Releases FY20 Half-Year Financial Report

August 31, 2020 03:21 PM AEST | By Team Kalkine Media

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On 31 August 2020, Elsight Limited (ASX: ELS), a provider of top-notch technology solutions reinventing real-time data transmission, unveiled its impressive half-year financial report for the period ended 30 June 2020 (1H FY20). Key highlights of the report are:

Elsight’s net assets experienced a boosted growth of US$602,722 (y-o-y) to stand at US$2,017,984.
The Company’s working capital noted a substantial increment and was recorded at US$1,631,491.
Elsight noted cash and cash equivalents of US$1,786,809 as of 30 June 2020 versus US$933,517 noted in FY19

Notably, Elsight achieved improved net asset position, cash and cash equivalents and working capital for 1H FY20 primarily due to receipt of proceeds from net share placement worth US$1,975,723 in the March quarter and US$350,306 received on the exercise of options in the June quarter.

Furthermore, Elsight’s net loss after income tax was noted at US$1,811,052 for the half-year ended 30 June 2020.

On 31 August 2020, ELS was trading at AU$0.580 at 3:11 PM AEST.

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