Water and wastewater treatment company De.mem switched its focus to buying from Australian suppliers during a 2020 calendar year which saw the company deliver an inaugural positive cash flow of $544,000.
The switch was made to avoid global supply chain risks exposed by the Covid-19 pandemic.
The Singapore/Australian company saw strong sales growth of 41 per cent in the year to reach $16.5 million, as well as stronger margins of 31 per cent.
Expenditures were dominated by investment in its Singapore membrane factory while sales were driven by record water treatment sales and recurrent revenues.
De.mem-Pumptech, a Tasmanian business bought in 2019, boosted cash receipts to $4 million, up $1.6 million on the previous year.
German subsidiary De.mem-Geutec, also purchased in 2019, boosted in cash receipts by 18 per cent to $2.6 million.
In September the company won its first order from a customer in the power generation sector.
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