Massive gains secured by Utility and Real Estate companies, closed Australia’s benchmark index in green today (25 January 2019). The S&P/ASX 200 Index jumped 0.5%, closing at A$5905.6, while the All Ordinaries Index soared by 40 points to A$5917. Below are some of the high performing stocks of the market today:
Marley Spoon AG (ASX: MMM)
Marley Spoon AG turned out to be a leading gainer at the close of the trading session today, skyrocketing by 26.67 %. The shares closed at 47.5 cents as compared to the previous close of 37.5 cents with the daily volume of 41,328 shares. However, the upside stands contrasting to the stock’s recent downward trend over the last six months with a fall of 70.93%. The shares have offered a negative YTD return of 6.25% till date to its investors this year.
Marley Spoon AG is in the meal delivery system offering food recipes, ingredients and meal kits. For the September quarter, the company reported its record-breaking revenue increase of 15% to €23.9 million with the US delivering 43% revenue growth, as compared to the previous quarter. The Company’s cash balance stood strong at €17.7 million as at 30 September 2018. The company was successful in launching 20 recipe options in Australia. The Company’s cash balance at 30 September 2018 was €17.7 million. The company had revised CY 2018 EBIT guidance to €32 – €34 million loss (up from €25 million) owing to increased marketing investment.
Millennium Services Group Ltd (ASX: MIL)
The industrial stock demonstrated an impressive 17.65% jump in today’s trading session, closing at AUD 0.300 with a market capitalization of AUD 11.71 million. Although the price of the scrip is on a downward, falling by 74.37% from the past six months, the shares have recovered by 15.91% this year.
Millennium Services group is a specialist in delivering security, cleaning and integrated services (such as pest control, property maintenance, and landscaping services) to the retail shopping centres, commercial properties, government buildings, and educational centres. The company recorded a 12% upside to the FY18 revenue driven by new contract wins and contract renewals. However, Gross profit and EBITDA reported a decline of 2.1% and 18.5%, largely attributable to revenue mix affecting gross margin, dual systems, and processes and duplication of overheads at the peak of the management transition. For the cleaning segment, the company witnessed a 10% increase in revenue to $242 million with contract wins (new as well as renewal) amounting to $87 million for FY18. For the security segment, the company witnessed a 33% jump in revenue to almost $40 million. The company places a strategic outlook of implementing several profitable projects, expecting significant returns over the medium to long term.
Love Group Global Ltd (ASX: LVE)
The shares of Love Group Global, zoomed up by 18.28% today, settling at AUD 0.110 as compared to the previous close of AUD 0.093. LVE stock has witnessed a strong performance growth of 12.05% over the last six months, although a drop of 7% is observed for the year to date. The Earnings Per Share of the company stands at AUD – 0.194.
The online dating and match-making company recently announced December quarter results, posting 7% jump in customer cash receipts of $1,620k, with premium matchmaking contributing 91% of cash receipts, followed by 7% by online dating and 1% by social events. Looking at region-wise contribution to cash receipts in 2Q FY19, Hongkong is the star performer with 67%, followed by 19% by Singapore, 10% by Bangkok and 3% by the UK. The company is looking forward to enhanced product development initiatives, new potential brand launches, strengthening the sales model scalability and targeting niche client demographics in the coming year.
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