Robotic technology company FBR Limited (ASX: FBR) has provided its annual report to shareholders for the financial year ended 30 June 2020.
In his letter to shareholders company non-executive chairman Richard Grellman said:
The past year has been very exciting for FBR, with significant progress made in the Company’s commercialisation journey, capped by the successful suburban builds at Dayton and Byford in July and September 2020 respectively.
The Company generated its first revenue in the financial year ended 30 June 2020 by building demonstration houses for its first builder customers in Perth, and in doing so completed a prospectus milestone set in 2015.
FBR welcomed two new Non-Executive Directors during and subsequent to the end of the financial year, with Mr Grant Anderson and Mr Greg Smith filling roles vacated by Mr Andrew Bloore and Ms Nancy Milne. Both Grant and Greg are highly experienced and have valuable skillsets to contribute to FBR’s next phase of growth. I thank Andrew and Nancy for their contributions to FBR’s Board during their time with the Company, and wish them all the best in their future endeavours.
While global economic conditions have been far from certain during 2020, FBR has been able to position itself well to minimise the impact of the global health crisis on its operations, demonstrating improvements in the speed and reliability of our technology despite the headwinds.
FBR has attracted significant international interest this year as we continue to show what we are capable of.
We expect the next 12 months to be just as exciting as the last, and I thank you, our Shareholders, for your continued support.