Obtala (OBT) “is pleased to provide a quarterly update on operations for the three months ended 31 December 2018” – and this includes revenue up by 16% over the previous quarter to $3.7 million, taking the full-year to $13.5 million…
Of course, it is the bottom-line which is most important – and the company has shown recognition of that with an agreement for the disposal of its (currently loss-making) Tanzania agricultural assets and “intensive management focus on cost reduction”. Additionally though, there’s been “a major milestone for the group on its pathway to becoming a leading player in African timber trading” and “feedback from customers regarding the quality of veneer output has been unanimously positive and bodes well for the objective to generate significant revenues and profitability”.
On the latter, work continues to increase output and improve workflows and on the former the “additional capital will enable the trading team to supercharge the development of their business during 2019… While we are excited to embrace this immediate opportunity for growth, we see it as no more than a stepping stone towards building significant scale and will therefore continue to focus attention on increasing our trade finance facilities during 2019”.
We look for early results from these to highlight the significant growth potential – and the shares to react positively to those and then to increased trade finance facilities further facilitating that potential. This is hinted at with the shares at 6.8p despite new equity raised at 5p just last week. With also a replacement Nomad for such status-relinquishing Northland Capital now in-place, the stance remains buy.
Filed under: Obtala, Eqtec, spiv trade, Evil Banksta, Richoux, ECSC Group, HotStockRockets
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