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Progen Reports Strong Revenue Growth.

Publication: Business Wire
Publication Date: 11-MAR-02
Format: Online
Delivery: Immediate Online Access

Article Excerpt
Business Editors/Health & Medical Writers

BRISBANE, Australia--(BW HealthWire)--March 11, 2002

Progen Industries Ltd (ASX:PGL) (Nasdaq:PGLAF) today lodged results for the half-year to December 31, 2001 announcing an increase in revenues of 46 per cent to $2.355 million over the corresponding period.

These interim results demonstrate that the company is in a strong position to reach its revenue target of $3 million for the 2001/02 financial year.

Explaining the net loss of $3.857 million from ordinary activities for the half year compared to the profit of $223 000 for the previous period, Progen CFO, Mr. Milton McColl said: "Last year we reported a gain of $3.921 million upon receipt of a 19.9% equity...

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