Corporate: Thought Chemtech and wastewater treatment wasn’t lucrative? Well it’s made SciDev an eight-bagger
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Chemtech – sounds boring. Treating industrial wastewater – sounds filthy. But dirty work is paying off for SciDev (ASX:SDV) and its shareholders — with the company up 742 per cent in a year.
The company provides chemicals and wastewater treatment for the industrial sector – particularly miners. This not only reduces the direct costs of treating water but also sludge disposal, trade waste charges.
SciDev also has dedicated solutions for dairy processors and the sewage industry.
These solutions have been financially rewarding for the company. In this quarter, sales are $1.7m and in the financial year to date $3.95m.
The latter is 35 per cent above the previous financial year.
SciDev CEO Lewis Utting said the sales and recent client wins (including large cap miner Iluka Resources) proved the company’s technology was commercially viable.
“The SciDev team continues to work on a variety of new business opportunities, commercial trials and orders, which will continue to drive strong growth for the company over the remainder of the financial year,” he said.
In the last 12 months SciDev has gained 742 per cent, similar to its peers in the water treatment sector. This is due to the increase in industrial clients as well as the growing demand for clean water – particularly in China.
This morning it gained 9 per cent.
Boston based medtech GI Dynamics (ASX:GID) has granted its largest shareholder, Crystal Amber, the right to appoint a representative to attend board meetings. This person would attend in a non-voting observer capacity only and this right will be forfeited once Crystal’s ownership falls below 20 per cent. The initial appointee is Juan Morera – a London-based equity analyst with Crystal.