Scantech’s pre-tax profit of $346,434 represented a $1.18 million turnaround from the $832,202 loss incurred in the previous corresponding period.
Managing director David Lindeberg said the much improved opening half was buoyed by continued strong revenue growth from the services division and sales of 11 analysers shipped from Scantech’s Adelaide headquarters.
“With this stronger start to the 2012-2013 financial year – and with an additional 17 analysers scheduled for shipment during the second half to our customers in the coal, cement and mineral industries – the company expects revenue for the full year to be similar to the $15.4 million achieved for the year ended June 30, 2012,” Lindeberg said.
Net profit after tax was $263,776, in contrast to an after-tax loss of $574,449 in the opening half of 2011-2012.
Scantech’s sales jumped 34.6%, from $4.7 million to $6.3 million, and orders on hand at December 31 totalled $9.3 million, in line with the orders held a year earlier.
“Our marketing team has identified new projects and opportunities which we will aggressively target and, based on current trends, we believe that Scantech will be able to maintain orders for its products and services at least at the current levels during the second half,” Lindberg said.
“Significantly, our current buoyant trading has resulted in a 17% increase in the Scantech workforce, which in recent months has risen to 34 full-time employees as well as the company’s part-time, casual and contract workers.”
Lindeberg warned that because most of Scantech’s revenue continued to be generated from export sales of its products and services, the strength of the Australian dollar, particularly against the US dollar and with the resulting pressure on margins, was still a major issue.
