Technology commercialisation business and mining equipment manufacturer PPK Group has suffered a drop in profit as the company continues to aggressively expand its portfolio of businesses.
The company reported today earnings before interest tax amortisation and depreciation of $924,000 in the first half year, down from a profit of $3.1 million.
Total revenues were hit by China’s restrictions on the Australian coal trade and were $4 million down in the half year to $17.9 million.
During the half the company expanded further into technology commercialisation and now has businesses manufacturing boron nitride nanotubes (BNNT), military body armour (Craig International Ballistics) as well as Li-S lithium sulphur batteries, BNNT reinforced dental products, white graphene and new alloys.
PPK is considering the future of its underground mining equipment business including a sale or stock market listing.
During the half the company developed a battery electric 12-seat personnel vehicle for underground mining and a wireless data logger to measure the performance of underground machines.
Picture: PPK mining equipment
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