Perth-based technology company Antaria has come close to a break even result after achieving 34 per cent growth in sales of $2.67 million.
Antaria issued a loss of $25 000 off the back of strong sales growth, down from a near $1.3 million loss for the same time last year.
Antaria, a specialised materials technology company that focuses on advanced metal oxide powders for use in cosmetics, fuel additives, sunblock and industrial UV protection coatings, reported strong growth for some of its products and plans to increase production.
Born out of research conducted at the University of Western Australia, Antaria was founded in 1998 to commercialise and capitalise on developments in the field of microscopic materials research.
ZincClear, a clear zinc UV protection product used in skincare and sunscreen developed by Antaria contributed 80 per cent, or $2 million, in revenue to Antaria.
At close of trade today Antaria shares were steady at 19 cents.