Jan 30, 2023, Jatcorp Ltd (ASX: JAT) provided the quarterly report for the FY2023 Q2.
Key Highlights:
– JAT achieved a quarterly net profit of about $160K (unaudited) for the first time in three years and EBITDA was about $424K (unaudited) for the December quarter.
– Total revenue for the December quarter was $8.59m (unaudited), compared with $7.31m in the September quarter 17.4% increase ($9.61m in the prior corresponding period, a decrease of 10.6%).
– Gross profit for the December quarter was $3.32m (unaudited), compared with $2.31m in the September quarter 43.9% increase ($2.57m in pcp, an increase of 29.3%).
– The December quarter records Net cash from operating activities was $197K (unaudited).
– AGM was held on 25 November 2022 and all resolutions have passed including the adoption of the remuneration report for FY2022.
Comments from MD Jack Wang：
– “JAT recorded a strong quarter and improved sales margin for Q2 FY2023, given the new Board of JAT was appointed on 1 September 2022.”
– “The new senior management has worked hard on recovering sales, and brand building as well as reduced the negative impacts from historical issues.”
– “The new board will continue to deliver value to our shareholders with continuous efforts to improve our operating efficiencies and market share.”
– “We expect momentum to continue in 2H FY2023 as China has lifted its Zero-Covid policy and consumers are building more confidence in our products.”
*To view the full quarterly report, please visit: https://www2.asx.com.au/markets/company/jat
About Jatcorp Limited
Jatcorp (ASX: JAT), is at the forefront of innovative technology servicing the world’s largest retail markets. With a track record of successful product development and distinguished technology, JAT is a leading producer of supplementary, plant-based, and dairy products.
