Shekel Brainweigh’s FY2020 revenue declines 2.7%, see signs of strong recovery
Source Shekel Brainweigh Ltd.
Shekel Brainweigh Ltd. (ASX: SBW), a provider of weighing technology, reported revenue of $18.3 million for its fiscal year, ended Dec. 31, 2020, down $500,000, or 2.7%, compared with the previous year.
The company attributed losses to the reduction in distribution activity of its Healthweigh line due to COVID-19, affecting the healthcare sector. Stronger project activities and medical OEM sales helped to offset losses.
Click here to see Shekel Brainweigh’s FY2020 presentation.
In its 2020 results presentation, the company reported several strong signs of recovery in Shekel’s core markets in Europe and the U.S. These include the acquisition of three new clients for Shekel Scales and the introduction of Hubz, a smart cooler marketed in partnership with Imbera and Parlevel Systems. Hubz sales are expected to start during the second quarter of 2021.
