Starburst Holdings has been in the red than black for far more years since its listing in 2014. However, with the restart of delayed projects, contracts won, and new expansion plans and investors, the manufacturer, engineer and builder of ricochet ballistic protection systems hopes to achieve higher profitability and more consistent earnings in the quarters ahead.

In FY2014 ended December, earnings improved 41% y-o-y to $13.2 million. But from FY2015 up until FY2019, due to a combination of contract delays, slowdown in orders and various other reasons, Starburst had reported losses, with the exception of posting earnings of $0.1 million in FY2017.

However, things are looking up for the group. In its latest 1HFY2020 ended June, Starburst recorded earnings of $2.1 million, compared to a loss of $2.1 million in 1HFY2019, as revenue nearly trebled to $9.7 million. This increase in revenue was mainly due to the deliveries of a tactical training mock-up project and firearm shooting range project in Southeast Asia and a firearms shooting range project in the Middle East.

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