SIX - Sprintex on the upward turn with 362% boost to cash receipts
(NewsDirect)
Sprintex Ltd(ASX:SIX) managing director Jay Upton gives Proactive an overview ofthe company’s June quarter highlights. Cash receipts from salesincreased 362% compared to the prior year and cash outflow fromoperating activities improved 43%.
He says production is set to begin on its range ofexceptionally efficient e-compressors and industrial blowers, withinitial production levels of more the 15,000 units per year which areexpected to boost annual revenues. Upton says the company’s targetis to achieve more than $20 million in revenue for the next 12months.
Otherhighlights of the quarter include the start of the ecompressorHydrogen sHyPs Project and a 27-40% energy saving achieved inefficiency testing on the G15 Turbo Blower.
Further to this, Directors are incentivised to achieve over $20million in revenue for the next 12 months, while a Prospectus wasissued for up to $2.3 million 4.5c placement and 4c SPP (subsequent tothe quarter).
ContactDetails
Proactive Investors
JonathanJackson
+61 413 713 744
Jonathan@proactiveinvestors.com
Copyright (c) 2023 TheNewswire - All rights reserved.