Suncream ingredient specialist Advance Nanotek has announced it has nearly tripled its net profit before tax to $4.81 million for the half-year ending December 31, 2019. It also reported total sales climbed to $11.3 million, compared to just $4.7 million in the prior corresponding half.

On January 17 of this year it completed a $3.945 million capital raising by the issue of 682,444 new shares.

For January 2020 it has reported a profit before tax of $1.3 million, when including backlog sales from its Alusion product.

Shares are up nearly 300 per cent over the past year to $5.77 today.