Big rise in revenue for ABV and close to break even 17:26,...

Big rise in revenue for ABV and close to break even
17:26, Tuesday, 26 February 2008

Sydney - Tuesday - February 26: (RWE Aust Business News)
-Perth-based advanced braking systems manufacturer, Advanced Braking
Technology Ltd (ABV) has delivered another solid period of sales growth
and continued its strong path to profitability.
The company reported a 55% increase to $2.124 million in the
trading revenue for the six months to December 31, 2007 compared with
$1.346 million for the previous period.
The latest figure also compares favourably with full year
trading revenue to 30 June 2007 of $2.601m.
The result translated into an after tax loss for the current
period of $0.501m, down 31% from the loss of $0.723m in the
corresponding previous period.
Managing Director of Advanced Braking Technology, Mr Ken
Johnsen, said the half year result showed a continuation of the
company's trend towards break even cash flow and self sufficiency.
"This was a pleasing result for Advanced Braking Technology,
which demonstrates the continued strong growth in the sales of the
Company's 'Sealed Integrated Braking System' (SIBS) technology,"
Mr Johnsen said.
"The company has expanded its market breadth geographically
with sales into Australia, Asia, Europe, Canada and America during the
half, and in addition, broadened its product range with the development
of new products for Fuso Canter and Isuzu vehicles as well as
engineering brake solutions for mining companies at commercial rates."
One of the key highlights for the half was securing regulatory
approval for SIBS products from TÛV, the German testing agency, for on
road use on Toyota Hilux vehicles.
SIBS brakes now have regulatory approval for on road use in
Australia, South Africa and Germany.
Mr Johnsen said the Company will continue to build its
geographical and product market penetration.
"Looking to the remainder of the financial year and beyond, the
Company’s growth strategy centres on expanding both our geographical
reach and our product range to ensure continued strong
revenue growth," Mr Johnsen said.
"The Company will also seek to further exploit its intellectual
property through engineering solutions to braking problems and the
development of new brake products outside of the mining industry.”
Advanced Braking Technology announced it also intends to expand
its successful direct sales model, introduced in Australia in February
2007, to overseas markets to provide increased sales margins.
"The Company is examining its sales strategies to explore
options for additional growth," Mr Johnsen said.
"In addition to moving to a direct sales model in overseas
markets, we are also exploring the option to develop interstate service
centres in Australia to provide value-added services to the
mining industry in the automotive and 4WD fields to provide new product
opportunities and drive growth in sales revenue, Mr Johnson added.