In light of the recent announcement of results coupled to a shareholder update from Harvest Minerals, we asked Sarah Lowther to catch up with Brian McMaster Executive Chairman to shed some light on the news. During the interview, McMaster gets his knuckles wrapped for the delay in the final figures, however, the Chairman argues that the auditors were a little slower (1 day) than expected.
· Sales for the past 12 months are ~50Kt, equivalent to breakeven at profit before tax level
· Sales price maintained at approximately BRL200 per tonne (US$48/t allowing for variations caused by exchange rate movements)
· Aiming to record maiden profit before tax for CY2020
· Continuing to increase capacity to meet expected future demand
· Cost savings programme implemented to further improve performance
The sale of KPFértil, commenced in earnest at the end of CY Q4 2018. Accordingly, an appropriate measure of performance is year-on-year sales not impacted by accounting cut-off dates. Current sales for the past 12 months are 47.5Kt and our pipeline of confirmed orders for the rest of the calendar year will take total sales to above 50kt.
You can hear the podcast interview with Brian McMaster here
Harvest Minerals is a high margin, vertically integrated fertilizer producer, located in the heart of Brazil
The author was remunerated but does not hold shares in the company
You can join Clear Capital Markets and open an account by clicking here