- SciDev has announced its sales for quarter one of the 2020 financial year is up 110 per cent, compared to this time last year
- It has achieved a record number of sales, totalling $1.4 million, for July and August 2019
- This announcement comes after its recent three year contract with Iluka Resources for its MaxiFlow chemistry
SciDev has announced its sales for quarter one of the 2020 financial year is up 110 per cent, compared to this time last year.
The company has achieved a record number of sales, totalling $1.4 million, for July and August 2019.
The increase in sales come from both the oil and gas sectors, in addition to the realisation of the business development in the mining sector.
SciDev brings together world-class technology, chemistry, management and manufacturing capabilities, to solve pressing operational and environmental issues. It is designed for the minerals processing, tailings, water treatment and oil and gas markets.
This announcement comes after its recent three year contract with Iluka Resources for its MaxiFlow chemistry.
MaxiFlow specialises in the treatment of waterwaste across industrial sectors at a cost-efficient rate. It is sold in both liquid and powder form.
Company CEO Lewis Utting is pleased with the results from the first quarter and is proud of what the team has achieved.
“We are seeing the hard work of the team over the last few quarters now convert to sales contracts with recurring revenue streams. Our near term goal of increasing our revenues with a view to becoming cashflow positive is now within reach,” he said.
The sales number is also a 40 per cent increase on the total figure from quarter four 2019.
Additionally, the company said it is also in reach of achieving its goal to increase its revenues.
“Considering this achievement and the recent multi-year contract agreement with Iluka, SciDev is off to an excellent start in FY20,” Lewis added.