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Phoslock Environmental Technologies Limited ( (AU:PET) ) has shared an announcement.
Phoslock Environmental Technologies experienced a challenging year with a significant drop in sales volumes in 2024 compared to the previous year, but the company anticipates a substantial recovery in 2025. The first quarter of 2025 already shows promising sales figures, driven by renewed purchases from HydroScience and strong performance in the US and Europe. Financially, the company reported a loss in 2024 but showed improved underlying profit due to reduced costs. The company’s cashflow deficit has also improved, and the refurbishment of its Chinese factory is underway to boost production capacity.
More about Phoslock Environmental Technologies Limited
Phoslock Environmental Technologies Limited (ASX: PET) is a company specializing in water treatment products aimed at remediating polluted lakes, rivers, canals, and drinking water reservoirs. Headquartered in Sydney, with operations in Changxing, China, PET’s primary product is Phoslock®, a lanthanum modified bentonite that binds excess phosphorus to improve water quality. The company operates globally through licensees and distributors, including HydroScience in Brazil.
Technical Sentiment Signal: Sell
Current Market Cap: A$15.63M
For an in-depth examination of PET stock, go to TipRanks’ Stock Analysis page.