Sprintex Ltd (ASX:SIX) managing director Jay Upton gives Proactive an overview of the company’s June quarter highlights. Cash receipts from sales increased 362% compared to the prior year and cash outflow from operating activities improved 43%.
He says production is set to begin on its range of exceptionally efficient e-compressors and industrial blowers, with initial production levels of more the 15,000 units per year which are expected to boost annual revenues. Upton says the company’s target is to achieve more than $20 million in revenue for the next 12 months.
Other highlights of the quarter include the start of the ecompressor Hydrogen sHyPs Project and a 27-40% energy saving achieved in efficiency testing on the G15 Turbo Blower.
Further to this, Directors are incentivised to achieve over $20 million in revenue for the next 12 months, while a Prospectus was issued for up to $2.3 million 4.5c placement and 4c SPP (subsequent to the quarter).
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