XPD Soccer Gear Group Ltd (ASX: XPD) is into the business of designing, development, manufacturing, marketing, and distribution of sportswear products. The Company offers a range of sportswear products, consisting of soccer sports footwear, sports apparel, and accessories, as well as performance apparel, such as soccer apparel, basketball apparel, outdoor apparel, and sports-inspired apparels.
The company has via the latest release on ASX disclosed its market update. The company stated that there was a significant reduction in the sales revenue for the 12 months period which had ended on the 31st of December 2018 as compared to the sales revenue of A$115M reported in the 12 months to 31 December 2017. However, the gross margins have been maintained, and the company continues to operate in the profits. At the end of the December quarter, the company had a cash & cash equivalents $49,544,000.
For the half-year ended 30 June 2018, the company had reported a Revenue from continuing operations at $37,805,306 which was down by 32.4% on the previous corresponding period. The decrease in revenue was mainly attributable to the ongoing activities in the soccer wear market in China by some of the significant Chinese sportswear manufacturers. This has resulted in lower pricing and competition for sales in the segment.
The Profit / (Loss) from continuing operations after tax attributable to members came in at $5,364,468, down by 40.4% on the previous corresponding period. The net tangible assets per security came in at 23.07 cents via-a-vis the Net tangible assets per security of 20.74 cents, which was reported for the period ended 30 June 2017.
XPD has fought to maintain a profit margin, though gross profit margin experienced a decrease from 29.8% to 23.6% compared to the same period last year – though comparable to the full year’s result of 26.5%.
The company has plans to reinforce its market share of soccer sportswear in schools and develop and commence sales of croquet shoes targeting senior customers to improve its trade conditions during the second half of the year. The board hadn’t recommended any dividend for the half year ended 30 June 2018.
Now let us quickly have a look at the XPD Soccer Gear Group Ltd.’s stock performance and the return it has posted over the last few months. The stock is currently trading at a price of $0.019 and is trading up by 18.75% during the day’s trade, with a market capitalization of $7.01 million. The counter opened the day at $0.016, reached an intraday high of $0.020 & touched an Intraday low of $0.016. The stock has yielded a Year till Date returns of -30.43% and posted returns of -62.79%, -46.67% over the last six months & three months respectively. It has a 52-week high price of $0.048 and touched 52 weeks low of $0.016, with an average volume of 387,873 approximately.
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