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In a statement today, ARF said the result was underpinned by ongoing ramp up of production volumes at its two plants in Largs Bay, South Australia and at Picton, Western Australia.
Chief executive John Lilywhite said the result showed his company could reliably produce and deliver commercial volumes of biodiesel.
“This also positions the company well to secure the balance of $5.4 million of a $7.2 million Federal Government biofuels capital grant,” he said.
“Production and sales to December 31 are also in line with the forecasts referred to in the company’s announcement of November 27.”
In North America during the December quarter, ARF completed its financial obligations in securing the patent rights to the Energea Technology. The final instalment of $US3 million ($A3.8 million) was funded by shareholder loans.
