Keytone Dairy Corporation Limited (ASX: KTD), headquartered in Christchurch, New Zealand, is engaged in manufacturing, packaging and selling dairy products to supermarkets, retail chains and manufacturers globally. To date, the company’s market cap stands at AUD 57 million with ~ 150 million outstanding shares. The KTD stock price closed the market trading at AUD 0.380 on March 20th, 2019, with ~ 939.03k shares traded.
Recently, the New Zealand Ministry of Primary Industries sanctioned the Organic Exporter Certification for Keytone. At the backdrop of the organic dairy market growing at an 8% CAGR since 2010, and estimated to reach USD 27 billion by 2023, with a projected CAGR of 7% during 2018-2023, the company can now begin production of organic product runs, secure long-term contracts and third-party private labels. This will enable Keytone to expand its proprietary product range to meet domestic and offshore demand.
For the quarter ended December 31st, 2018, Keytone reported a sales revenue growth of 18%. The company had a combined cash balance of $ 10,353,892 as of December 31st, 2018.
KTD Price at posting:
38.0¢ Sentiment: Buy Disclosure: Held
