PET 0.00% 24.5¢ phoslock environmental technologies limited

News: PET Phoslock Environmental Technologies Posts 2020 Revenue Forecast $50-70M

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    Jan 31 (Reuters) - Phoslock Environmental Technologies Ltd (PET) :

    • 2020 REVENUE FORECAST $50-70M
    • FY2019 REVENUE $25.1M, UP 53%
    • IN WUHAN, ALL ACTIVITIES WERE COMPLETED IN OCTOBER 2019; PRESENTLY NO PET PERSONNEL IN WUHAN
    • CO AND ITS PERSONNEL UNAFFECTED BY CORONAVIRUS OUTBREAK;AT THIS STAGE EXPECT TO SEE NO CHANGE IN OVERALL CONTRACT POSITION
    • WORK ON NEXT STAGE OF PROJECT IN WUHAN NOT DUE TO START UNTIL APRIL-MAY 2020
    • PROJECT DELAYS WILL REDUCE GROSS PROFIT BY SOME $2.5M FOR FY2019
    • FY2019 NET PROFIT BEFORE TAX AND NON-CASH ITEMS IS FORECAST IN RANGE OF $2-3M
 
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