1H18 Results
“We find great science and build global companies”
SUMMARY OVERVIEW
1H18 has been a period of stabilisation and building a platform for growth.
- Powerhouse Board Changes
Mr Russell Yardley appointed as Director on 28 February 2017 and Chairman on 14 June 2017
Dr Stephen Hampson resigned as Managing Director on 25 August 2017
Mr Paul Viney appointed CEO on 25 August 2017
- Comprehensive review of operating model and portfolio carrying values completed
- Disposal of 'off-model' investments - Syft at 10x, ArcActive at 4x realising $2.9M in total
- Powerhouse pursuing value creating transactions in Motim and Solarbright
- Investee Croplogic proves “IP to IPO” pathway, but share price weakness impacts 1H results (listed at A$0.20, trading at A$0.094 as at 31 December 2017)
- Invert Robotics expands into Europe and completes $8m capital-raise, with significant sales contracts and expansion opportunities presenting
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