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Shekel Brainweigh (ASX:SBW) records 35pc increase in H1 FY21 unaudited revenue
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  • Shekel Brainweigh (SBW) ends H1 FY21 with unaudited revenue between US$10.5 million to US$10.6 million (A$14.2 million to $14.3 million)
  • This is a 35 per cent increase compared to the US$7.8 million (A$10.5 million) recorded in the prior corresponding period
  • Additionally, Shekel Brainweigh's scale division recorded an unaudited first half revenue of US$10.2 million (A$13.8 million), up 40 per cent on H1 FY20
  • Once the auditing period is complete, the company expects to report improvements regarding gross profit and cash burn
  • Shekel Brainweigh is up 3.45 per cent on the market with shares trading at 15 cents at 2:16 pm AEST

Shekel Brainweigh (SBW) has ended H1 FY21 with unaudited revenue between US$10.5 million to US$10.6 million (A$14.2 million to $14.3 million).

This is a 35 per cent increase compared to the US$7.8 million (A$10.5 million) recorded in H1 FY20.

Shekel Brainweigh's scale division recorded an unaudited first half revenue of US$10.2 million (A$13.8 million), up 40 per cent on H1 FY20.

Additionally, its retail innovation division recorded H1 FY21 revenue of US$380,000 (A$515,813), a 24 per cent increase over the full year revenue of US$308,000 (A$418,080) in FY20.

Shekel Brainweigh stated it has reported on unaudited revenue due to the material difference from the results in the prior corresponding period.

Once the auditing period is complete, Shekel Brainweigh expects to report improvements regarding gross profit and cash burn.

Audited results are expected to be reported on August 31.

CEO Arik Schor said the company had expected to increase revenue this financial year and is pleased the company did so.

"The results demonstrate our recovery from the impact of COVID-19 last calendar year and the resilience of our business in challenging conditions," Mr Schor said.

"Also, because Shekel Brainweigh is a global business, it has not been affected by the recent lockdowns and restrictions in Australia."

Shekel Brainweigh was up 3.45 per cent on the market with shares trading at 15 cents at 2:16 pm AEST.

SBW by the numbers
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