🕐28.09.10 - 08:54 Uhr

Clover Corporation [ASX: CLV] - New research report on Clover (Strong Buy)



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Clover Corporation [ASX: CLV] - New research report on Clover (Strong Buy)

A recent Microequities Research Report on Australian nutraceuticals company Clover Corporation (ASX: CLV) has maintained a Strong Buy recommendation with a price objective of $0.52 following Clover�s impressive growth in FY2010.

According to Microequities, after extrapolating the Future Foods Ingredients (FFI) write-down, the Company�s revenues rose +56%, whilst PBT (excluding FFI) rose +49% to $7.3m (versus $4.9 in FY09).

The result demonstrates a successful execution in Clover�s growth strategy, and whilst Europe and the America�s market remain in our view, underrepresented, they conversely present Clover�s best growth opportunities.



The report outlines that gross margins have continued to rise from 37.0% to 38.3% in FY10 reflecting a higher composition of sales from Clover�s higher margin powder products and a decrease in lower margin oil products.

Please see the attached report for full details.

For further information please contact:

Dr Ian Brown
MD, Clover Corporation
Mobile: 0420 317 848
Email:

Carlos Gil
CEO, Microequities
Mobile: 0424 957 437
Email:


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