Viewpoint: Bullish
FY21 Result: a tough environment for the integrated marketing business over the previous 12 months, but they have emerged in a good position, meeting expectations at the FY21 result. Revenues were marginally lower while EBITDA (ex-jobkeeper) was up slightly, both as expected. Cost control has been the key for IVE Group, setting them up for stronger…
Westpac have recently launched a new Hybrid Security as a roll-over of an existing security (WBCPG) plus a new money offer. The broker bookbuild was completed last week and the margin set at 2.9% over the 90 day bank bill rate. Bidding was very strong and I got ~15% of the bid amount given the high proportion of existing investors electing to roll..
Overnight saw crude oil continue this week’s impressive recovery, its already ~10% above this month’s low which helped the US Energy Sector rally +1.6% overnight. As we discussed on Tuesday MM likes the Energy stocks today and if crude can close here, or higher, come Friday the technical picture will remain very supportive, now all we need is for…
The ASX200 continued its quiet start to the week finally closing up +0.2% with the action remaining firmly under the hood with 11 stocks rallying by +4%, or more, while 5 names fell by the same degree. High volatility through reporting season is nothing unusual with investors delivering 2 very clear and different messages to corporate Australia:
We also had management present yesterday following EML’s result on the 18th August. The focus was on the PFS Card Services business given the regulatory issues they are having in Ireland. They have guided to EBITDA of $58-65m for FY22 which seems achievable organically. They expect to have the bulk of the remediation work wrapped up by the end…
We spoke to management yesterday following their FY21 results. On first read it looked a solid / inline result with revenue and EBIT hitting estimates. A few things to note – guidance for flat revenue was as expected, though they used the assumption of 75c for the AUD. On current levels, that’s about a 6% downgrade. The order book needs some work…
FY21 Result: The impressive education technology business posted a solid FY21 result today (~1% above Shaw’s expectations) however they outlined a path of strong organic revenue growth over the coming 5 years which speaks to increasing confidence from management and line of sight for the business. Shaw’s analyst Jules Cooper had this to say on the result… FY22 guidance implies…
1H Result: a decent start to the year from the document productivity business. Revenue was up 26% to $24.1m with net recurring revenue more than doubling. Operating EBITDA remains in the red, -$3m for the half. They reaffirmed recently upgraded guidance for ARR of $39-42m and EBITDA loss of $9-11m. It remains cheap, and the business model…
FY21 Results: HUB reported group revenue of $110.9m which is well below the $132m expected, Underlying EBITDA of $36.2m was a slight beat while underlying profit was largely inline. Key here is around FY23 Funds Under Administration (FUA) guidance which has been upgraded to a range of $63bn – $70bn by FY23, up from previous FY22 platform FUA…
FY21 Result: the full year results looks to have come in above expectations for the shipbuilder Austal. Revenue was in line at $1.57b, while NPAT fell to $81.1m during the year, it was ~5% above expectations. Recent news flow has been positive for Austal, winning a number of contracts and slowly working through historical issues with the US Navy.
