HighCom Limited Shows Resilience in FY24 Update

XTEK Limited (AU:HCL) has released an update.

HighCom Limited reports a solid H2 FY24 with financial results meeting earlier forecasts, a significant cash increase from $1.6m to $6.2m, and no debt, highlighting their business resilience and potential for future profitability. The company also secured new orders worth $13.7m and maintained strong relationships with key partners and customers, including the US Department of Defence. Despite a delay in one contract affecting revenue timing, HighCom is optimistic about ongoing projects and its operational updates, indicating a positive outlook without the need for additional equity fundraising.

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