XRF Scientific Ltd's Half-Year Financial Results

XRF Scientific Ltd (ASX: $XRF) has reported a record half-year result for the December 2023 period. The company's sales revenue increased by 6% to $28.6 million from $27.1 million, and the net profit after tax rose by 20% to $4.5 million from $3.7 million. The December quarter also marked a significant milestone with a record quarterly profit before tax of $3.4 million.

Executive Commentary on Half-Year Result

During the half, we saw strong levels of activity across the divisions, with the mining industry being the main driver of activity. International sales growth continued in key markets across Europe, Asia, and the Americas. The December quarter was highly positive, with a record profit before tax of $3.4 million being generated from revenue of $14.9 million.

Summary of XRF Scientific's Half-Year Result

XRF Scientific Ltd (ASX: $XRF) has delivered a robust half-year performance, driven by strong activity across its divisions, particularly in the mining industry. The company experienced international sales growth in key markets across Europe, Asia, and the Americas. The Consumables division achieved a strong half, with the mining sector remaining the key driver of activity. The Precious Metals division delivered solid results, despite challenging economic conditions in Germany. The Capital Equipment division also performed well, with delayed revenue expected to contribute to a strong second half. The company's new product, xrTGA, received positive market feedback, and XRF aims to continue developing important reference customers in the next half. XRF's policy to pay one dividend per year on profits will be determined based on the full-year result. Looking ahead, XRF Scientific remains focused on leveraging its technology to improve product quality, increase productivity, and reduce downtime and waste for its customers.