Advanced Braking Technology has increased sales year-on-year for the latest quarter (5.4%) and half (11%), booking Q2 NPAT of A$.066 million and year-to-date net profit of $0.79 million.
The ASX-listed mine and construction vehicle brake company said it generated net operating cash inflow of circa-$1 million on $3.39 million December-quarter sales and 52.1% gross margins (49.1% in Q2, FY23).
“The positive change in margin is related to product mix and geographical jurisdiction of sales,” ABT said.
It gave it a closing cash position of $1.9 million at the end of December.
First-half revenue of $6.99 million compared with $6.33m in H1 FY2023.
“I am pleased to report that in Q2 we have achieved progress in driving market penetration of our core product as well as progressing product development in both light and heavy vehicle solutions in line with our FY24 strategic roadmap,” CEO Andrew Booth said.
“A key driver of revenue growth was targeted market development in Africa with strong focus on new customer acquisition as well as encouraging growth in international markets.
“During this period, heavy vehicle validation trials further progressed, as well as light vehicle product innovation.”
Booth said he remained “optimistic about the remainder of the fiscal year”.
ABT has a current market value of $21.4 million.
