Halo Food Co (ASX:HLF) achieves strongest ever quarterly results

• Dairy and health products manufacture and exporter Halo Food Co (HLF) achieves its strongest quarterly results on record
• For the quarter ended in December, the company saw a 17 per cent increase in sales to $17.5 million, a record for Halo
• Over the month of November, sales reached $8 million, which included more than $3.9 million in sales from New Zealand Dairy division
• The company had more than $2.6 million net cash from operations as cash receipts from customers grew more than 40 per cent through the quarter
• On the market today, Halo is up 9.09 per cent and trading at 12 cents per share

Dairy and health products manufacture and exporter Halo Food Co (HLF) has achieved its strongest quarterly results on record.

For the quarter ended in December, the company saw a 17 per cent increase in sales to $17.5 million, a record for Halo.

Over the month of November, sales reached $8 million, which included more than $3.9 million in sales from New Zealand Dairy division. This is the highest sales on record for the New Zealand business to date.

Halo’s profitability increased during the quarter, with a third consecutive quarter of positive normalised profits before interest, taxes, depreciation, and amortisation of $503,000, a considerable improvement over both the preceding quarter and the prior equivalent period.

The company had more than $2.6 million net cash from operations as cash receipts from customers grew more than 40 per cent through the quarter, compared to the second quarter’s $18.6 million.

Capital expenditure payments materially decreased to $334,000 from $825,000 in the prior quarter and in line with forecast as the protein bar line has now largely been completed.

At the end of December, Halo had a combined cash balance of $4.6 million, an increase of 23 per cent over the prior quarter and undrawn debt facilities of $5.1 million.

On the market today, Halo was up 9.09 per cent and is trading at 12 cents per share at 11:05 am AEDT.