Sprintex Limited (ASX:SIX) Reports Solid December Quarter Achievements
Strong Sales Commitments
Sprintex Limited (ASX:SIX) reported significant sales commitments of A$30 million from its distribution partners across the UK, Türkiye, and India during the December quarter. This strong backing underscores the growing demand for the company’s energy-efficient technology.
Operational Momentum
The company highlighted encouraging results from trials conducted with a leading aquaculture producer in Türkiye. The trials showcased the G15 jet blower’s ability to achieve energy savings of 70%, validating Sprintex’s technology and paving the way for increased business development in the near future.
Upcoming Revenue Conversions
The company remains focused on converting its A$30 million distribution agreements into tangible revenue. It is also finalising the commissioning of Mest Water compressors, with expectations for completion in early February.
Market Expansion Initiatives
The December quarter also saw Sprintex establish strategic partnerships in the UK, India, and Türkiye, contributing to a global order value of a minimum of A$30 million over the next five years. The company plans to accelerate its market growth through targeted marketing campaigns and the introduction of new products.
Financial Performance and Outlook
Sprintex reported a cash position of A$314,000 at the end of the quarter, with expectations of improved cash flow from revenue contracts in the upcoming months. Management remains optimistic about the company’s potential for revenue growth in the next quarter.
Future Developments
Looking ahead, Sprintex is dedicated to further enhancing its operational capabilities and aims to continue expanding its footprint in targeted markets. Participation in major industry events will also ensure visibility and connection with key stakeholders.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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