Scidev Ltd - No adverse supply chain implications from COVID-19
Scidev Ltd (ASX:SDV)

No adverse supply chain implications from COVID-19

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Highlights

What's happened?

SciDev Limited (ASX:SDV "SciDev") have confirmed it is not experiencing any adverse supply chain implications arising from COVID-19.

What are the key highlights?

  1. The Company’s inventory position at 29 February 2020 was AUD$2.8m and provides adequate supply to satisfy customer consumption requirements.
  2. SciDev FY2020 YTD Sales exceed AUD $12M and we continue to see incoming enquiries for our products and professional services as companies look to adhere to their environmental regulations in an efficient and cost-effective manner.
  3. SciDev had a cash position of $3.07m at the end of December 2019. The balance sheet has strengthened since this time and SciDev remains well funded to continue to deliver on our business activities.
  4. SciDev is maintaining an elevated customer contact regime (via video and audio means) and is pleased to advise that all key customer operations remain on track.

Managing Director's Summary

Lewis Utting

"SciDev are well placed to deal with the current circumstances that are universally challenging. Our focus is on looking after our people, our customers and our balance sheet. We remain well positioned to meet customer demand and have inherent flexibility to deliver on our current business commitments.”

Lewis Utting
Managing Director, Scidev Ltd
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