Straker Translations releases Q1 FY21 report & video
Straker Translations has released its quarterly activities report for the quarter ended 30 June 2020.
Key takeaways include:
- Sales orders up 24% on Q1 FY2020 to NZ$8.0 million; Q1 revenue only slightly down on a proforma basis at NZ$7.6 million, with June 2020 revenue up 28% on June 2019 as all market segments recover
- Significant achievements in R&D, further enhancing technology leadership
- Underlying operating cash flow still strong, reflecting effective customer cash collection performance
- Total cash outflow of NZ$(2.5) million reflecting earn-out payments and increased R&D project spending; strong cash balance of NZ$8.7 million at 30 June 2020
- Discussions with potential M&A opportunities restarted
Read Straker's full report released to the ASX release here.
Watch CEO Grant Straker give a video update on the company's activities and performance for Q1 FY21 here.