Keytone Dairy Corporation (ASX:KTD) to list on ASX
The financial performance highlights include:
• Total sales revenue was up 31% for the quarter (1 January 2019 to 31 March 2019) compared with the prior quarter ended 31 December 2018.
• Total cash receipts for the quarter were up 43% to $819,000 compared with the prior quarter.
• Sales of Keytone Dairy proprietary branded powder products (as opposed to products contract packed for third parties) for the quarter were up 25% compared with the previous quarter.
• Sales of private label brands (products contract-packed by Keytone Dairy for third party customers) across the entire product range were up 31% compared with the previous quarter.
• With the 43% increase in cash inflows from customer sales, Keytone Dairy’s net cash outflows from operations were negligible at $63,000 (compared to an operating “cash burn” of $537,000 in the previous quarter).
• The cash outflows from investing activities for the quarter were only $528,000, being purchases of plant and equipment for the second manufacturing facility currently under construction – being approximately half of the spend on that facility that was incurred in the previous quarter.
• As at 31 March 2019, Keytone Dairy had a combined cash balance of $9,768,348, as outlined in the accompanying Appendix 4C.