Business
Sprintex on the upward turn with 362% boost to cash receipts
(NewsDirect) Sprintex Ltd (ASX:SIX) managing director Jay Upton gives Proactive an overview o...
About this update from Sixty Six Capital Inc
[{"type":"text","content":"Sprintex on the upward turn with 362% boost to cash receipts\n \n \n (NewsDirect)\n \n \n Sprintex Ltd\n(ASX:SIX) managing director Jay Upton gives Proactive an overview of\nthe company’s June quarter highlights. Cash receipts from sales\nincreased 362% compared to the prior year and cash outflow from\noperating activities improved 43%.\n \n \n He says production is set to begin on its range of\nexceptionally efficient e-compressors and industrial blowers, with\ninitial production levels of more the 15,000 units per year which are\nexpected to boost annual revenues. Upton says the company’s target\nis to achieve more than $20 million in revenue for the next 12\nmonths.\n \n \n Other\nhighlights of the quarter include the start of the ecompressor\nHydrogen sHyPs Project and a 27-40% energy saving achieved in\nefficiency testing on the G15 Turbo Blower.\n \n \n Further to this, Directors are incentivised to achieve over $20\nmillion in revenue for the next 12 months, while a Prospectus was\nissued for up to $2.3 million 4.5c placement and 4c SPP (subsequent to\nthe quarter).\n \n \n \n \n \n Contact\nDetails\n \n \n \n \n Proactive Investors\n \n \n \n Jonathan\nJackson\n \n \n +61 413 713 744\n \n \n \n [email protected]\n \n \n \n Copyright (c) 2023 TheNewswire - All rights reserved.\n \n \n","length":1819,"tagName":"div"}]