BWX Limited’s (ASX: BWX) share prices declined 1.343 percent on 17 September 2018 after BMX strategic review concludes that BMX is going to remain as Independent. As per the release, Independent Board Committee (IBC) had agreed to continue in discussions with Bain Consortium to determine whether a binding proposal which is in the best interest of BWX shareholders could be developed or not. After the conclusion of those discussions, now the Company has announced that the Bain Consortium has not been able to submit a binding proposal and hence withdrawn its indicative proposal.
During the Strategic review, many parties have approached BWX with the Joint venture, licensing and distribution proposals which are having a potential of increasing the growth of BWX’s brands in international markets. Hence BWX has decided that it will continue exploring these opportunities. This process of exploring the potential for a change of control proposal has given an opportunity for the company to validate the existing strategies and identify new growth opportunities. The company will now be focusing on the expansion of market share of all key BWX brands in existing markets and diversifying into new geographies and channels. The company will also try to enhance its e-commerce presence by capitalizing on nourished Life’s digital capabilities. Also, the company will try to accelerate the growth of the Sukin brand domestically and globally.
Interim CEO Myles Anceschi has been appointed as permanent CEO of the Company. He will join BWX Board of Directors as the Managing Director. Also, Mr. John Humble who has served as Managing director and Chief executive Officer and Mr. Aaron Finlay who has served financial Director and joint Company Secretary, both have agreed to resign from their executive and board roles.
During the FY 2018, the company has earned a Revenue of $148.7m which is 105% more than compared to last year revenue. The underlying EBITDA is $40.3 million which is 52% higher than the previous year. The Underlying NPAT was $40.3 million this year. [optin-monster-shortcode id=”wxhmli4jjedneglg1trq”]
BWX’s shares were traded at $4.00 at a market capitalization of $507.43 million as of 17 September 2018 (AEST 04:00 P.M.).
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