Having a rough look at SFG financials I have seen that although they are selling their prawns and having locked around 25M dollars of annual revenues, their gross profit is negative by more than 10M p.a.
Given that gross profits are before any SG&A it's not normal to show a loss on that level. Something must be fundamenta!ly wrong in this aspect. You can't produce prawns more expensive that you re actually selling them. What does this mean for the future of the project with thousand more tons to sell when you can't straighten up things on a smaller scale?
Just food for thought. I am not holding the shares but looking to jump in if I got persuaded by it's progress down the road...for now I am sceptical.
Ohh I love eating prawns btw!
I have noticed that SFG is gross profit negative.
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0.4¢ |
Change
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Mkt cap ! $19.34M | |||
| Open | High | Low | Value | Volume |
| 0.3¢ | 0.4¢ | 0.3¢ | $2.497K | 732.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 1717751 | 0.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.4¢ | 3876614 | 13 |
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| SFG (ASX) Chart |