salvation
XRF Scientific Ltd (“XRF” or “The Company”) today announced its results for the December 2020 half‐year:
Key Highlights
Sales Revenue of $15m
Statutory Net Profit After Tax up 47% to $2.4m from $1.6m
Adjusted Profit Before Tax* up 4% to $2.4m from $2.3m
*Adjusted Profit Before Tax is after adding back/deducting items related to COVID‐19. A full break‐down of
these items is available in the Half‐Year Report.
XRF’s Managing Director, Vance Stazzonelli, commented on the half‐year result:
“Positive conditions have returned during the first half, after some of the markets that were impacted by
COVID‐19 started to bounce back. The strategy we put in place in response to COVID‐19 has allowed us to
continue as an essential business through all lockdowns and keep our employees safe.
We are seeing strong levels of activity in the mining industry, across both exploration and production,
which supports demand across our product range. There is robust demand in Australia, Europe, North
America, and parts of Asia.
The Consumables division had a good half, delivering a profit of $1.3m from revenue of $4.2m. There has
been strong demand from both domestic and international customers. New customer acquisition has
continued at a steady rate.
The Capital Equipment division delivered an adjusted profit before tax of $465k. The pickup in demand for
capital equipment products that started in July continued through the half. Our sales order book remains
strong into the second half at over two months, with a record number of machines on order.
The Precious Metals division delivered an increased adjusted profit before tax of $841k compared to $710k
in the Previous Corresponding Period. The Germany Office has been performing well, and was profitable
most of the last half, including all of the December quarter.
The Board has maintained policy to pay one dividend per year on operating profits which will be
determined based on the full‐year result.
Our cash position was $2.6m at 31 December 2020, which has since increased to $3.4m at 19 February
2021. This follows the $500k platinum purchase disclosed at the FY20 full‐year release, as well as $1.65m in
cash dividends paid in October.”courtesy of Bell Direct
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i hold XRF ( currently up 42% on this )