Phoslock Environmental Technologies Limited ( (AU:PET) ) has shared an update.
Phoslock Environmental Technologies Limited reported a cashflow deficit of approximately $950,000 for the March quarter, an improvement from the previous year’s deficit but higher than recent quarters. Sales increased significantly to 383 tonnes, with major contributions from Brazil and the USA. The company is preparing for potential sales growth in Europe and addressing challenges posed by increased US tariffs on Chinese goods. Additionally, Phoslock is dealing with legacy legal issues, including a class action, and is working towards lifting the suspension of its shares on the ASX.
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, it operates a factory and warehouse in Changxing, China, and maintains offices in China, the UK/Europe, and the USA. The company is represented by licensees, distributors, and agents in various countries, including HydroScience in Brazil and The Orion Companies in the USA.
YTD Price Performance: 25.00%
Technical Sentiment Signal: Buy
Current Market Cap: A$15.63M
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