Advanced Braking Technology Limited (AU:ABV) has released an update.
Advanced Braking Technology Ltd has reported a strong financial performance in Q3 FY24, with a 12.5% increase in product sales revenue and a significant gross margin of 51.7%. Despite a slight decrease in year-to-date net profit after tax, the company maintains a robust operating cash flow and a healthy closing cash position. ABT’s focus on geographic diversification and product innovation, such as the upcoming launch of a new braking system for the Toyota Hilux, positions it for continued growth in the mining vehicle safety market.
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