KTD, page-1671

Think you posted in the wrong forum, about the wrong company? Or perhaps you haven't read last month's 4C, as it details all the goals KTD has been kicking, including:

"Keytone recorded a sixth consecutive quarter of record growth with sales revenue for the quarter
increasing to more than $A11.5m, growing approximately 33% on the prior quarter revenue of $A8.7m
realised in Q4 FY20 (1 January 2020 to 31 March 2020). The substantial majority of this growth was
organic growth from the consolidated business on a like for like basis with the prior quarter, with only
10% of the revenue growth, being approximately $A0.3m accounted for from sales of the newly
acquired protein bar line facilities completing in May 2020. Total customer cash receipts for the quarter
were steady quarter on quarter at $A8.2m.

Key recent developments include:

• Keytone undertook and completed a well-supported institutional capital raise of A$12.5m
during the quarter, with scalebacks applied, to support the growth initiatives of the business;

• Growth accelerated during the quarter with record sale orders of A$5.2m received in one week
alone in April 2020 – these orders will be fulfilled through the first two quarters of FY21;

• The quarter saw significant follow-on orders from major Chinese customers including, Nouriz
and Walmart China – Nouriz placed its largest order to date of approximately A$1.4m to be
produced in Q2 FY21 and not reflected in the results of Q1 FY21;

• Importantly the potential impact of a trade war between China and Australia is substantially
mitigated by the fact that Keytone derives its China revenue from its New Zealand operations
and these revenues are continuing to grow;

• The second manufacturing facility in New Zealand continues to scale and recorded
approximately $A2.0m of sales in New Zealand through the quarter, the largest sales quarter
in New Zealand recorded to date;

• Substantial new proprietary product development continues to be commercialised and will be
brought on stream in Q2 FY21;

• The strategic acquisition of the assets of AusConfec Pty Limited (“AusConfec”) for $A2.25m
completed in May 2020. Assets consist of state-of-the-art German equipment for the
manufacture of protein bars in an operational facility, with a high grade fitout and customer
contracts with Woolworths and Coles;

• Expansion of the assets of Ausconfec will take advantage of the $800,000 Manufacturing
Modernisation Fund Grant awarded to Keytone’s wholly owned subsidiary, Omniblend, by the
Australian Federal Government. The grant is not reflected in the cashflows of Q1 FY21.

• Proprietary product ranging continued and Tonik Pro was launched through E-Cargo, one of
Keytone’s eCommerce partners in China, for the 18 June online festival;

• Keytone continues to pursue its strategy of making to order rather than making to stock to
mitigate the potential buildup of excessive inventory balances and the necessity to write down
stock levels as has been occurred in the industry."

Source, 4C: https://events.miraqle.com/DownloadFile.axd?file=/Report/ComNews/20200715/02255101.pdf