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De.mem forecasting revenue growth of up to 245% this calendar year, shares rise

Shares are trading up 22% intra-day before midday, last priced at $0.25.
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The company is one of the top performers on the ASX today

De.mem Ltd (ASX:DEM) has forecast revenue for calendar year 2018 to be between $8 million to $10 million.

Compared to CY2017 revenue, which was $2.9 million, this forecast range represents growth of 185% to 245%.

De.mem is a Singaporean-Australian decentralised water and waste-water treatment business that designs, builds, owns and operates water and waste water treatment systems.

Entry into Australian market through Akwa-Worx acquisition

De.mem entered the lucrative Australian market through the acquisition of Akwa-Worx on 18 September 2017, one of many growth initiatives since IPO.

Andreas Kroell, CEO, said: “Since our IPO in April 2017, De.mem has continued its rapid expansion with important growth milestones achieved.”

On the path to profitability, acquisition opportunities

De.mem is well funded with a healthy cash balance, and together with a reduced cash burn and a growing revenue base, it is well positioned to become cash flow positive in the near term.

The company continues to assess growth opportunities in the water and wastewater technology sector, a space which is still highly fragmented and has considerable scope for consolidation.

READ: De.mem founding member of Singapore water treatment technology consortium

While organic growth is a priority, De.mem will also assess opportunistic acquisitions that make an immediate contribution to earnings.

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