Source: Atlas Pearls
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Atlas Pearls (ATP) announces it is expecting revenue for the first half of the financial year to be between $12 and $13 million
  • Historically, the company has reported half-yearly earnings in between $6 million and $8 million
  • The company reportedly harvested 351,000 pearls in the first half of the financial year
  • Harvest numbers for the second half of the financial year are expected to be approximately 15 per cent lower than the first half
  • Shares finished the day of trading in the green by 37.9 per cent, trading at 4 cents

Atlas Pearls (ATP) has announced it is expecting revenue for the first half of the financial year to be between $12 and $13 million.

Historically, the company has reported half-yearly earnings in between $6 million and $8 million.

ATP said the increase in expected revenue is due to a variety of factors including the introduction of a digital platform to facilitate sales worldwide, a strengthening international pearl market, and strong harvest results in terms of quantity.

The company reportedly harvested 351,000 pearls in the first half of the financial year. Harvest numbers for the second half of the financial year are expected to be approximately 15 per cent lower than the first half.

Atlas Pearls said sales revenue for the second half of the financial year will be dependent on a number of factors including quality of harvests, a continuation of strong demand for pearls, and the rate at which the company chooses to bring graded pearls to market.

During 2020, the company reduced the remuneration of its employees in order to navigate the decrease in sales experienced in the pandemic. The company advised it has now paid the salaries foregone during the period last month.

Shares finished the day of trading in the green by 37.9 per cent, trading at 4 cents.

ATP by the numbers
More From The Market Online
Market Close Graphic

ASX Market Close: Bourse defies red futures to end up on 2025’s first trading day | Jan 2, 2024

The local bourse has defied morning predictions to end 34 points up, at 8,189 (a 0.44% gain) after ASX 200 futures originally suggested...
The Lalor mine in Snow Lake.

Nova Minerals ‘starts year on very positive note’ with Snow Lake split

Nova Minerals has raked in a new year's boost, adding $10.8M to its balance sheet after…
Tony Rovira working for Azure Resources

Director who led Azure to $1.7B acquisition takes helm at Lycaon Resources

Lycaon Resources has made a major appointment that's got investor chins wagging, with Tony Rovira taking…
A road in the forest in New South Wales where Critical Green Minerals was looking into building a plant.

Early construction ‘significantly accelerates’ timeline for Green Critical Minerals’ high-tech graphite pilot plant

Green Critical Minerals (ASX:GCM) has completed the first construction phase at its in-development VHD Technology