... here it is ............... AFT Corp flags $50K before tax...

... here it is .........
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... AFT Corp flags $50K before tax loss
January 18, 2010 - 10:29AM
AAP

AFT Corporation Pty Ltd has upgraded its profit guidance to a smaller loss than expected previously, on the back of stronger performance in its solar panels business.

AFT said in a statement on Monday it expects to deliver a net loss of $50,000 for the year ended December 31, up from previous guidance of a net loss of $300,000.

An improving sales pipeline, along with rising monthly revenues and tighter cost controls mean full year 2009 revenue will be approximately $7.2 million, up from AFT's half year estimate of between $5 million and $5.5 million.

AFT offers building materials, solar panels and logistics services. Its building products division is national distributor of Suntech Power, a US-based photovoltaic products manufacturer.

The company posted an after-tax net loss of $1.121 million to December 31, 2008, down 81 per cent on the previous year.

Annual revenue in 2008 was down 56 per cent to $301,000.

AFT said its Artemis building products division continued to grow its business as Suntech distributor, due to increased sales demand, including recent installation on the Sydney Town Hall.

The expected result was based on a trend of increasing monthly revenues, an improving sales pipeline, and through "a number of cost control measures including reductions of management salaries", the company said.

AFT's chief executive Stone Wang was not immediately available for comment, the company said.

The company's shares firmed 100 per cent, by 0.1 cent to 0.2 cent at 1010 AEDT.

2010 AAP
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