No brake to ABT growth spurt

Specialist brake manufacturer Advanced Braking Technology has reported strong growth for the 2020 financial year as the company continues a turnaround.

The Perth company reported profit after tax up 110 per cent to $171,000.

Revenue was up 22 per cent in the year to $9.08 million.

Advanced Braking manufactures its Terra Dura and Failsafe brands for specialised uses in harsh, extreme environments.

Its patented Sealed Integrated Braking Systems are the brakes of choice for commercial vehicles used in the Australian mining sector, and are used extensively in construction fields.

ABT’s results were not materially affected by the Covid-19 pandemic, though it benefited from pandemic assistance of $110,000 from the Commonwealth and Western Australian governments.

During the year the company increased sales and margins and cut costs by $700,000, including through eliminating debt of $2.25 million. ABT is now substantially debt free.

It is also instituting improvements to intangible aspects of the business such as corporate culture, systems and processes and stakeholder management.

Earlier in the year ABT and fellow Perth manufacturer VEEM Ltd entered into a technology licensing agreement to manufacture and supply a specialised park brake mechanism for the Thales Hawkei armoured vehicle being built in Bendigo for the army.

Picture: Advanced Braking Technology

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