FFT result exceeds FY15 Prospectus forecasts - revenue up 48% YoY
Future Fibre Technologies Limited (ASX: FFT), a global leader in fibre optic intrusion detection systems, today announced its financial result for the full year ended 30 June 2015 (FY15).
In FY15, FFT delivered a strong result with a 48% increase in revenue on the prior year to $19.5 million. Gross profit was also up 28% to $12.3 million (on the prior year).
As at 30 June 2015, FFT had a cash balance of $17.6 million and no debt.
Commenting on the result, FFT Chairman Arlene Tansey said: “Having only recently listed on ASX, this is a milestone financial result for FFT and its shareholders. With the company exceeding Prospectus forecasts across all key metrics, it is an extremely positive result and demonstrates the strong global demand for FFT’s intrusion detection technology. FFT’s financial position and solid sales pipeline positions the company to pursue its growth strategy and continue to increase shareholder value.”
Results overview
| AUD$ million, Full year ended 30 June 2015 | FY14 | FY15 | Growth |
| Revenue | 13.1 | 19.5 | 48.0% |
| Gross Profit | 9.6 | 12.3 | 27.8% |
| EDITDA | 2.0 | 2.7 | 33.2% |
| EBIT | 1.6 | 2.2 | 33.2% |
| NPAT | 1.6 | 2.2 | 32.3% |
FFT Chief Executive Rob Broomfield added: “FY15 was a busy year for FFT having successfully closed a number of significant utility and pipeline contracts, as well as receiving orders for the protection of multiple Middle East airbases and commercial airports in Europe. The company also experienced an increase in the number of long-term end-users upgrading their existing equipment to benefit from FFT’s latest generation hardware and software.”
“In line with our growth strategy, FFT increased its customer facing sales resources in the US and Europe during the course of the year and has been actively progressing distribution channel partnerships for FFT Secure Point which will introduce our solutions to a large number of commercial and residential perimeter applications.”
“With a substantial project pipeline of potential sales opportunities in excess of US$200M over the coming years, the company will continue to grow its global sales team to access new markets and capitalise on the strong demand for FFT’s range of fibre optic intrusion solutions.”
For further information contact: Katie Paynter +61 417 057 243