Scidev Ltd - June 2020 Quarterly Activities Report - SciDev delivers record cashflow
Scidev Ltd (ASX:SDV)

June 2020 Quarterly Activities Report - SciDev delivers record cashflow

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Highlights

What's happened?

SciDev Limited (ASX:SDV) has provided its Quarterly Activities & Cashflow Reports for the period ended 30 June 2020.

What are the key highlights?

  1. Second cash flow positive quarter generating record operating cash of AUD$1.5m.
  2. Record cash receipts of AUD$8.1m, second largest quarter of sales AUD$5.5m.
  3. Strategic JV agreement with Nuoer China based in People’s Republic of China.
  4. First professional services delivery into the infrastructure sector Melbourne Metro Project.
  5. MaxiDry® chemistry developed for infrastructure, first sales into Melbourne Metro Project.
  6. The mineral processing and infrastructure sectors were broadly unaffected by COVID19 and continue to present strong growth opportunities for the company.

For extensive information on SciDev's quarterly report, please click the announcement in the link below.

Managing Director's Summary

Lewis Utting

“In view of the challenges that have swept the world in the last few months, I am extremely pleased that all our staff are safe and with SciDev’s performance during the June 2020 quarter. With rescheduling of customer activities due to COVID-19 we have not been able to maintain the exceptional growth momentum we saw in previous quarters. Despite these extraordinary global challenges, we were cashflow positive for the second consecutive quarter and grew our Australian manufacturing capacity. ... Our entry into infrastructure at the CYP Metro project represents a watershed moment for the company where cross fertilisation of skills, product and technology has successfully translated across industry verticals. As always, I would like to thank all the staff at SciDev for their efforts during the quarter.”

Lewis Utting
Managing Director, Scidev Ltd
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