Scottish Pacific Group Limited (ASX: SCO) – Shares Placed In Trading Halt Ahead Of Pending Material Announcement

Scottish Pacific Group Limited

Financial services provider Scottish Pacific Group Limited announced the trading halt of its securities. In an application made to Australian Securities Exchange, the company requested the immediate implementation of a trading halt of its listed securities due to pending material announcement.

Subsequently after receiving the approval from ASX the securities of Scottish Pacific Group were placed in trading halt on 20 September 2018. As per the company’s information, the pending announcement is in relation to a possible control transaction which involves the company.

Let’s take a recap of the financial performance of the company. In the recently announced FY18 result, the company posted strong underlying growth across the business which has eventually pumped up the bottom line by 17.4% to $29.7 million. Whereas the top line jumped 8.2% to $108.6 million in the year ended 30 June 2018. Growth in volumes and loan book has been the principal driver for growth in net revenue and profit. Cost to income ratio was 50.2% in Fiscal 2018 compared to 52.4% last year.

Also, the company declared higher fully franked dividend of 19.0 cents per share, up 15.2% for the full year ended 30 June 2018. Whereas basic earnings per share grew 15% to 24.2 cents per share.

The securities of SCO will remain in trading halt till the earlier of 24 September 2018 or market release of the material announcement by the company as stated above.

The stock of Scottish Pacific Group last traded at $3.740 after recording 2.186% of rise in the daily price change on 19 September 2018. The SCO has seen a performance change of +33.10% over the past one year while most recently it traded at the PE of 15.620 x with market capitalization of $520.58 million.

Sponsored ad by Kalkine

Dividend Stocks

Dividend Stocks To Buy

The Income available from dividends remains attractive for many investors.

We take a look at the best yields on the market and assess what they say about a company’s prospect.

One Thing is certain, though, Australia interest rates are still low, making income difficult to come by and keeping the focus for many investors on high yielding stocks. Kalkine’s team of analysts bought you handpicked report for “Top 25 Dividend Stocks For 2018.”

ASX-relevant Special Reports are published year-round to provide a detailed analysis into an investing opportunity or a potential risk to your portfolio.

Click here to get your free report.


Disclaimer

The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkinemedia.com and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.

Join Our Discussion

Start discussion with value Investors for ASX Stock Market Investment and Opinion.


6 Cannabis Stocks under Investor’s Limelight…

Cannabis companies that sell both medicinal weed and recreational pot. Marijuana stocks to look at. Marijuana mergers and acquisitions. Dispensary data analytics. Upcoming marijuana IPO’s Those phrases have become increasingly common as marijuana legalization spreads.

Global spending on legal cannabis is expected to grow 230% to $32 billion in 2020 as compared to $9.5 in 2017, according to Arcview Market Research and BDS Analytics. As of June 29, 2018 the United States Marijuana Index, despite a lot of uncertainty around regulations, has over the past 1 year gained 71.49%, as compared to about 12% gain seen by the S&P 500.

Click here for your FREE Report

LEAVE A REPLY

Please enter your comment!
Please enter your name here