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Past ASX Release
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31 July 2008 APPENDIX 4C - June 2008 Quarterly Activities Summary During the June 2008 quarter Advanced Engine Components Ltd ("ACE") recorded continued growth in sales of patented natural gas vehicle systems ("NGVS"); spare parts and consumables; and completed compressed natural gas ("CNG") and liquefied natural gas ("LNG") engines. Sales in the June quarter totalled $1.8 million. This brings total sales for the year to $4.7 million. A 52% increase over sales for FY2007. Orders on hand, for delivery by 30 September 2008, ensure the increase in quarter on quarter sales will continue into FY2009. These increased sales, together with improved margins and contained overheads, have resulted in a 50% improvement in EBITDA for the year compared with FY2007. Cash receipts from customers and net operating cash flows have improved on a quarter by quarter basis throughout FY2008:
With record sales invoiced in June 2008 and an assured increase in sales for the September 2008 quarter the above trend, of increasing quarterly receipts from customers, will continue. Sales during the June quarter were to a spread of customers through China, Thailand, Indonesia, France and Australia. This geographical spread will expand further with current engine development programmes in progress for India, Korea and Malaysia together with favourable ongoing trials in China and Australia. As well as ongoing engine development programmes ACE, over the next six months, will complete development of new ACE patented components. These developments include the next generation ACE electronic control unit. The new patented components will assist in reducing cost and improving efficiency of the ACE NGVS. The June 2008 quarter and ongoing activity is further proof of ACE's ability to become the leading supplier of alternative fuel engine systems and components to the Asia Pacific Region through innovation and quality. Appendix 4C - Quarterly Activities Summary, June 2008 (PDF, 169k)
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