Good results - management continues to knuckle down and quietly just get on with things.
Besides the headline uplifts in revenue, earnings and profits - other positives I like in the half-yearly include:
Strong cash generation
From 1 January 2020 to 19 February 2020, cash position increased by approximately $1.1 million. Cash position as at 19 February was $2.7 million
Cash position will continue to build through throughout the second half. Note that debtors towards the end of the first half did increase by $0.95 million
Margin expansions across all segments
Consumers, precious metals and capital equipment all reported increased margins
Commentary seems to suggest opportunities for further margin expansions with new products, lower marginal costs etc
Note that revenue growth from continuing operations has also outstripped growth in in cost of sales
Mergers and acquisitions opportunities
Board seems to have identified their list of targets
Others
Revenue from contracted service revenues to external customers has grown 48%
Implementing a dividend reinvestment plan
Reviewing capital management options for their excess franking credits - maybe either through special dividends or share buybacks
XRF Price at posting:
25.5¢ Sentiment: Buy Disclosure: Held
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