George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksHAL.L Regulatory News (HAL)

  • There is currently no data for HAL

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Trading Update

25 Jan 2016 07:00

RNS Number : 8223M
HaloSource Inc
25 January 2016
 

 

25 January 2016

 

HaloSource, Inc.

("HaloSource" or the "Company")

Trading Update

HaloSource, Inc. (HAL.LN, HALO.LN), the global clean water technology company traded on London's AIM, today issues a trading update for its financial year ended 31 December 2015 ahead of its preliminary results for the period, which it expects to announce on 8 March 2016.

 

Revenues for the full year ended 31 December 2015 are expected to be $16.3 million (2014: $21.0 million), with $1.9 million of orders previously expected to be shipped in 2015 now being delivered in Q1 2016. Net cash at the year end is expected to be approximately $4.6 million (2014: $13.8 million).

 

Drinking Water

Full year revenues were $4.2 million (2014: $6.3 million), impacted by delays in key customer rollouts and the previously announced unscheduled shutdown of the Company's Drinking Water manufacturing facility in China. As announced on 11 December 2015, the Company has successfully resumed full production at this facility and is now actively fulfilling customer orders for key partners such as Perfect, Eureka Forbes and Zhejiang Lonsid Healthy Drinking Water Equipment Co., Ltd. ("Lonsid"), with whom the Company signed a supply agreement in late 2015. Lonsid specialises in the design, development, manufacture and sale of healthy drinking water equipment in the Chinese residential and commercial markets and is now deploying HaloPure® technology in several of its reverse osmosis systems.

 

Environmental Water

Full year revenues for the business were $2.4 million (2014: $3.0 million), impacted by drier-than-average weather across the western United States throughout 2015, which decreased demand for our products used in storm water management. During the year, HaloSource undertook a restructuring of this division, which is expected to continue to improve gross margins and reduce expenses in the business going forward.

 

Recreational Water

Full year revenues were $9.7 million (2014: $11.5 million), which comprised $1.3 million in revenue from new customers during the year but was more than offset by reduced sales to two of our larger, lower margin customers. The Company has implemented structural changes and moved to a commission-based agency sales model, which is expected to continue to improve gross margins and reduce fixed costs going forward.

 

Martin Coles, President and CEO of HaloSource, said:

"We have now fully resolved the specific operational challenges that impacted the business in 2015.

 

We remain committed to investing in and building our Drinking Water business whilst continuing to aggressively reduce our cost of goods and operating expenses. We remain focused on delivering our class-leading HaloPure® Drinking Water technology through current and future strategic partnerships with some of the world's leading brands.

 

We have implemented a number of structural changes during 2015 which we expect to continue to improve gross margins in both the Recreational and Environmental Water businesses while we continue to explore strategic opportunities to strengthen our balance sheet and improve cash reserves."

 

Enquiries:

 

HaloSource, Inc.

Martin Coles, Chief Executive Officer

via Newgate below

James Thompson, Chief Financial Officer

Susan Brown, Director Corporate Communications

 

Newgate (PR Adviser)

James Benjamin

Alex Shilov

Lydia Thompson

+44 20 7680 6550

halosource@newgatecomms.com

Liberum Capital (NOMAD and Joint Broker)

Richard Bootle

Jill Li

Steve Pearce

 

+44 203 100 2222

Allenby Capital (Joint Broker)

Chris Crawford

Kat Perez

 

+44 203 328 5656

About HaloSource

 

HaloSource, Inc. creates innovative solutions for water purification that serve people, preserve the planet and protect our most valuable resource. The Company works with scientists and industry experts across the globe in search of new ways to improve water quality and has been awarded more than 70 patents for its ground breaking chemistries, which provide effective and environmentally responsible solutions to the growing issue of water stress.

 

Founded in Seattle, Washington, HaloSource has grown to become an influential leader in three market segments: drinking water, recreational water, and environmental water treatment and remediation. HaloSource is headquartered in the US with operations in China and in India. Learn more about the Company's research and development and future cutting edge technologies by visiting www.halosource.com.

 

HaloKlear, HaloPure, and SeaKlear are either trademarks or registered trademarks of HaloSource, Inc. All other trademarks, brand names or product names belong to their respective holders.

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
TSTPGUUAGUPQGBC
Date   Source Headline
27th Feb 20197:00 amRNSResult of General Meeting
14th Feb 20197:00 amRNSProposed Disposal and Delisting from AIM
7th Feb 20197:00 amRNSUpdate in Funding Options
21st Dec 20188:30 amRNSSuspension - HaloSource Corporation
20th Dec 20184:30 pmRNSSuspension of trading
20th Dec 20184:30 pmRNSSuspension - HaloSource Corporation
3rd Dec 20187:00 amRNSUpdate on Fundraising and Funding Options
26th Oct 20187:00 amRNSTrading Update
11th Oct 20187:00 amRNSastrea launches innovative bottle & subscription
2nd Oct 201810:35 amRNSastrea is first bottle certified to reduce lead
27th Sep 20187:00 amRNSInterim Results
10th Sep 20184:04 pmRNSResult of AGM and Total Voting Rights
21st Aug 20186:09 pmRNSFundraise and Change of Adviser
26th Jul 20184:30 pmRNSBlock Listing Return
18th Jul 20187:00 amRNSRetailer Order for astrea
28th Jun 20182:46 pmRNSPosting of Annual Report
13th Jun 20187:00 amRNSAppointment of Joint Broker
31st May 20187:00 amRNSHydration Product Launch
21st May 20187:00 amRNSastrea Passes Rigorous Testing
9th May 20187:00 amRNSPreliminary Results
16th Apr 20187:25 amRNSastrea Crowdfund Goal Achieved
12th Apr 20187:00 amRNSResult of Special Meeting
22nd Mar 20187:00 amRNSIndiegogo Launch
19th Mar 20187:00 amRNSPosting of Circular
12th Mar 20182:00 pmRNSProposed Re-Domicile and Change of Name
14th Feb 20187:00 amRNSAstrea Launches in USA with Indiegogo Campaign
26th Jan 20187:00 amRNSBlock Listing Return
12th Jan 20187:00 amRNSSuccessful Commercial Production of Lead Reduction
2nd Jan 20187:00 amRNSResult of AGM
27th Dec 20177:00 amRNSTrading Update
21st Dec 20177:08 amRNSPerfect Water Manufacturing Renews Excl Agreement
15th Dec 20177:01 amRNSPlacing and Subscription
15th Dec 20177:00 amRNSAppointment of Nominated Adviser and Broker
5th Dec 20177:00 amRNSHaloPure Powered Products in South Africa
30th Nov 20175:00 pmRNSAIM Disclosure Update
31st Oct 20177:00 amRNSAppointment of Joint Broker
17th Oct 20177:00 amRNSAstrea Advisory Board
5th Oct 20177:00 amRNSPartnership with Water.org
28th Sep 20177:00 amRNSHaloSource Launches New Brand in India
22nd Sep 20179:45 amRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES
22nd Sep 20177:00 amRNSAgreement with Seven Step Ecotech
11th Sep 20177:00 amRNSHalf-year Report
26th Jul 20177:00 amRNSBlock Listing Return
20th Jul 20177:00 amRNSTrading Update
18th Jul 20177:00 amRNSSupply agreement
30th Jun 20174:00 pmRNSAnnual Report and Financial Statements
27th Jun 20173:37 pmRNSGrant of Options
22nd Jun 20175:46 pmRNSCorrection Director/PDMR Shareholding
21st Jun 20175:09 pmRNSDirector/PDMR Shareholding
21st Jun 20177:00 amRNSNew e-commerce customer agreement

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.