makes for some positive reading. Essentially, if you take out the so called "provision against profit drawing' expense, we are looking at a $300k + profit. Compared to the last few years this is an very good result. Especially as the US sector had a significantly loss due to the wind down of the old product and we can assume the start up costs of the new 'feline favorite'
The performance of the Australian operations is also excellent with a profit of $803k. Once again well and truly up on previous years. I think most of us have been looking to the US cat litter sales as the future of this company and as such to lift the SP, but lets not forget good ol Aussies sales.
So if they can get the yanks to buy 'Feline Favorite', then together with the increasing Australian sales, we could have a very nice profitably company in a couple of years.
Well done to Des and his team on turning this business around. Yes, there is still a long way to go before we all jump with excitement, but its a big positive that our mgt team is continually developing/ adapting our products in line with the markets changing needs....
MUT Price at posting:
0.7¢ Sentiment: LT Buy Disclosure: Held
