ASX ANNOUNCEMENT Wednesday 26 th July, 2017 Fourfold increase in...

ASX ANNOUNCEMENT

Wednesday 26 th July, 2017

Fourfold increase in forecast FY2017/18 Sales Key Points:
Revised FY sales forecast to $18.5 million, up 460% on previous year.
New Changxing Factory commenced production
Initial production capacity of 15,000 tons per annum

Phoslock Water Solutions Limited (PWS): (ASX: PHK) wishes to advise that, based on current and expected orders, the Group is revising up its forecast sales for Financial Year to 30th June 2018 to $18.5 million, up 460% on the previous corresponding period. Following the transformational change to its underlying business last year, new sales will come from a combination of materials, including traditional Phoslock, zeolites and new bacteria products as well as additional in-house engineering services. Phoslock Beijing, the major driver of this growth, is now fully functional, and has 15 employees, comprising a broad range of skillsets including industrial chemists, engineers, project implementation production experts and technical sales specialists. Furthermore, International PWS sales - excluding China, are also forecast to substantially grow in 2017/18 to $6 million (up 50% on the previous year). PWS currently has major projects in Brazil, Canada, Europe and Australia. Chairman Laurence Freedman AM stated: “The new Changxing Factory is now commencing production at a significantly increased rate to meet new demand from China and the rest of the world. New opportunities are being presented across all our geographic locations”.