'The sharp decline in the AUD v USD is also good news in terms of revenue figures. From memory I think BRT management said forecast was $18.5m(USD) which they were equating to the $20m(AUD) implying a 92.5c exchange.
With the AUD now at the 80c mark that makes for a better AUD revenue rate. With $4.85m(AUD) already booked for the first six months and management confident of still achieving the additional $15.15m(AUD - assuming a 92.5c exchange rate), the majority of that figure could be calculated back to a new AUD figure of about $17.5m (at .80c exchange) and thus taking AUD revenues to just over $22m(AUD). If they were able to turn a profit - this would also be magnified.'
With the AUD continuing to slide (all be it more so in the last month) there is a high possibility of getting close to the $30m AUS mark. The USD has also held up reasonably steady in relation to the CNY which is important in terms of manufacturing costs.
SLE
BRT Price at posting:
5.1¢ Sentiment: LT Buy Disclosure: Held
