Had another look at the financials. A remarkable turnaround in HY2 after a dismal 1st half. # more than earsed HY1 loss to produce a profit for full year. # NPAT margin in HY2 >10%.....An elite figure. # Restored financial health to better 2023. # R & D stayed on par with 2023. # reduced inventories. The standout is that the $4m drop in inventories was mainly from finished goods & work in progress that we thought obsolete scrap that RFT will not be able to sell. On the other hand raw materials have actually increased by $2m.....They must see signs of recovery to stock up on raw material. I have to say that the dismal 1st half falls squarely on poor oversight of the old board & the remarkable 2nd half is a credt to the new team we have been mocking.
RFT Price at posting:
0.8¢ Sentiment: None Disclosure: Held
