DXN achieves maiden positive cash flow
Prefabricated data centre manufacturer DXN achieved its first positive cash flow from operations in the December quarter of $55,000, boosted by cash receipts of $1.97 million. The company completed installation of the first cable landing station in Fiji for Southern Cross Cable Network and inked new contracts worth $1.8 million. The company is to supply data centre modules to Streamline Connect for a large mining customer in the Pilbara, and a new cable landing station for APX Partners.
Creso Pharma announces strong growth
International cannabis product manufacturer Creso Pharma has reported $740,000 in cash receipts in the December quarter, a 740 per cent jump on September. The company’s globalisation efforts are paying off with its Mernova Medicinal offshoot in Canada and Swiss hemp products group performing well. The company also sells medicinal lozenges in Australia.
TacMed to develop armoured ambulance variant
Emergency medical technology company TacMed Australia has will develop an ambulance variant of Rheinmetall Defence Australia’s Lynx armoured infantry fighting vehicle (pictured). Lynx is competing for more than $18 billion in army contracts, with three prototypes to be delivered for testing. Half of TacMed’s employees are former veterans.
Jatcorp’s China sales rebound 111 per cent
Dairy manufacturer and China export specialist Jatcorp’s (JAT) sales to China rebounded from Covid-19 affected lows in the December quarter by more than 111 per cent. The company saw sales rise from September’s $4.3 million to $9.1 million in the latest three months. Lockdowns affected China exports and closed small stores which buy and onsell the company’s products – the so called daigou sales channel.
ABT continues positive growth trend
Fail-safe brake manufacturer Advanced Braking Technologies has reported sales of $2.2 million in the December quarter, a nine per cent rise on the previous corresponding period. Three positive quarters of positive cash flow continued the trend of rising net profits. Average profit margins are now 44.7 per cent. During the quarter the company secured a $240,000 Defence Global Competitiveness Grant of $240,000.
Redflex’s strong performance in 2020
Traffic signal and road management technology company Redflex received new orders in the final quarter of 2020 worth $14.2 million as well as $2.5 million in contract renewals. The sales result is the strongest in several years and brought total contract wins for the year to $33.9 million. Earlier this month Redflex agreed to sell out to Verra Mobility Traffic.
NERA announces network of hydrogen industry clusters
National Energy Resources Australia has announced 13 regional hydrogen clusters, with $1.85 million to be invested to assist “establish[ing] a global identity and a recognised brand for Australian hydrogen technology and expertise”. NERA CEO Miranda Taylor said it was a crucial step in building the skills and capacities needed to exploit Australia’s potential in an industry based on the emerging fuel. Each of the 13 is based on “existing hydrogen projects and technology supply chains in strategic locations” and would help “ensure long-term local cohesion and sustainable capability across the emerging hydrogen value chain,” she said.
Picture: TacMed Australia
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