another domino falls, page-3

yes this 1st half result for 09/10 will be very interesting, traditionally it is the weaker half plus exchange rates have not been kind. Also the company has already advised that several factors have resulted in the sales momentum temporarily slowing to "only" about 30% increase overall.
That's still a very solid increase however they have already indicated that the 2nd half result to 30/6/10 should see growth rates return to the traditional level around 80%.

Interesting to look at average A$ vs US$ exchange rates over the last 18 months:-
1/7/08 to 31/12/08 = 78c
1/1/09 to 30/6/09 = 71c
1/7/09 to 31/12/09 = 87c

Thus the 1st half revenue in A$ due to be reported later this month has been impacted by the higher A$. However unlike most australian companies selling internationally Cellestis has the advantage of seeing a large majority of their expenses incurred in the same country and currency as their revenue thus there's a natural hedge with only the nett of revenue less expenses being exposed to exchange rate fluctuations when repatriated back into A$.

regards, EB