XRF announces strong full‐year result XRF Scientific Ltd (“XRF” or “The Company”) today announced its results for the June 2020 full‐year: Key Highlights Sales Revenue of $29.1m Statutory Net Profit After Tax up 46% to $3.1m from $2.1m Adjusted Profit Before Tax* up 33% to $4.2m from $3.2m Adjusted June Quarter Profit Before Tax* of $945k Fully franked final dividend of 1.4 cents per share Debt reduced to $0.9m from $2.3m Net cash position of $2.7m up from $1.0m *After adding back/deducting items related to COVID‐19 and early repayment of debt. A full break‐down of these items is available in the Annual Report. XRF’s Managing Director, Vance Stazzonelli, commented on the full‐year result: “The increase in profit is a result of positive market conditions through the majority of the year and continual optimisation of business operations and costs. There was growth in sample preparation products in newer geographical markets, as well as the platinum markets being developed in Europe. The mining industry remained strong throughout the whole year, with sales driven by both exploration and production.
XRF Price at posting:
30.5¢ Sentiment: Buy Disclosure: Held
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