XTEK Ltd (ASX:XTE) is targeting revenue growth in the second half of financial year 2021 as it shifts focus towards its proprietary products tailored for the government, law enforcement, military, space and commercial sectors.
During the half-year ended 31 December 2020, the company focused on driving higher margins through a shift in its product mix, including XTclave
TM produced ballistic products and advanced composite solutions and XTatlas
TM real-time contextual video, which provides unique solutions for western military forces and other government agencies.
The company reported revenue for the first half of financial year 2021 was $12.4 million, and gross profit margins increased to 26% (compared to 18% in the first half of financial year 2020).