Syft delivers operational revenue of $21.0m up 70%,

Operating profit of $4.8m up 343%,

Letter of Intent with Semiconductor manufacturer, Micron, turns in to purchase orders worth NZD$13.3m to date.

Doug Hastie Syft Technologies CEO

Doug Hastie

BE(Hons), MBA

Managing Director

Performance Highlights (NZD) Strong sales growth and recurring revenue

  • Syft continues to achieve consecutive years of high growth with sales up a record 70% YOY
  • Growth rates continue to increase as more sales creates more customer advocates
  • Staff increase 35% from 78 people to 105 people
  • Many new large-scale customers and reorders from existing customers

Corporate milestones

  • We have successfully opened an office in Korea, which is helping to strengthen our position in the Semiconductor market
  • We have employed Jihoon Lee, based in our Korean office, as our sales leader
  • We expect to make more senior appointments in production, development, and sales, as the scale and footprint of our business increases. Many of these positions will be overseas based
  • We have introduced a next generation “Infinity” instrument, that delivers much higher performance specifications, and this is driving our growth in the Semiconductor market

Changes to the Board of Directors

As part of a planned Board re-fresh Syft announces today the appointment of Desh Edirisuriya as a Director.

Desh has a high level of expertise in R&D, manufacturing operations, quality management systems and business improvement methodologies, a skill set very relevant to Syft’s specialist manufacturing demands. He knows the company well having acted as a consultant in recent times. Desh will bring a wealth of knowledge and experience to the table and as the pace of instrument production continues to grow his skill set will be highly valuable to Syft. Desh currently serves as the General Manager Business Excellence for Fisher and Paykel Healthcare. Desh replaces Martin Goldfinch, an ACC appointed director, who has resigned today.

About Syft Technologies Syft Technologies designs and manufactures revolutionary scientific instrumentation that enables instant detection of most gaseous chemicals. Customers include:

  • Global companies such as Samsung, LG, SC Johnson, Ford, and Kraft Heinz Company.
  • Universities such as Harvard, Stanford, Imperial College and Cleveland Clinic.
  • Government agencies such as Australian and Canadian Customs.

In a diverse range of industries including semiconductor manufacturing, pharma, vehicle testing, environmental monitoring, and food and flavour research. Syft instruments deliver a combination of unique attributes: high selectivity, very low limits of detection, high throughput, ease of use, and very low total cost of ownership. Syft provides class-leading after-sales support.