The below-mentioned stocks have witnessed improvement in their share price today (i.e., 1 April 2019). Let’s take a closer look at the recent announcement of these stocks-
Select Harvests Limited (ASX: SHV)
World’s leading vertically integrated nut and health food company, Select Harvests Limited (ASX: SHV) has provided a Crop and Market update today (i.e., 1 April 2019). The company’s 2019 harvest is progressing very well with around 50% of the trees already harvested. Till now, the results from the 25 percent of the crop processed is 10 percent above industry benchmark volumes.
Due to the dry conditions, newer technology and improved horticultural practices, the quality of the products have been improved. The productivity has also improved due to new processing technology.
The company is expecting that with continuing favourable harvest conditions, the yields of the still to be harvested pollinator varieties should at least meet industry benchmarks.
While providing the information about the Market conditions the company informed that the combination of a lower 2018 Californian crop and strong demand from China has had a positive impact on the market.
The company’s 2019 crop is over 50 percent committed for sale at prices above the previously provided range of A$8.20 – A$8.50/kg. The remaining uncommitted portion of Select Harvests crop is also being marketed at or above the A$8.20 – A$8.50 range.
The company also informed that due to the ongoing focus on productivity and the assumed increased yields, the company’s cost of production per kg has decreased, with the exception of water.
The company’s half year results for FY19 will be released towards the end of May 2019.
SHV’s shares traded at $6.500 (+6.908% intraday) with a market capitalization of circa $580.46 million.
Corporate Travel Management Limited (ASX: CTD)
Corporate Travel Management Limited (ASX: CTD) has replied to an ASX query regarding non-lodgement of appendix 3y. ASX had asked CTD whether Mr. Jamie Pherous is holding a relevant interest in CTD securities through an entity called Shamiz Pty Ltd. In its reply, CTD has advised that Mr. Jamie Pherous is holding interest in CTD securities as it is 25% shareholder of Shamiz Pty Ltd. And Shamiz Pty Ltd. as trustee for the Sami Superannuation Fund currently holds 526,893 CTD ordinary shares making Mr. Jamie Pherous the holder of the shares.
In its reply to ASX on why an Appendix 3Y was not lodged in relation to Mr. Jamie Pherous’ relevant interest in CTD securities held through Shamiz Pty Ltd., the company has informed that Mr. James Pherous was not aware prior to 29th March 2019 that his 25 percent shareholding in the corporate trustee of the Sami Superannuation Fund is providing him with the relevant interest in the CTD securities.
The company further informed that it has lodged Appendix 3Y for Mr. James Pherous with the ASX on 1 April 2019 and it has also confirmed that it is complying with the Listing Rules and, in particular, Listing Rule 3.1.
On the stock performance front, in the past six months, the share price of the company decreased by 16.55% as on 29 March 2019. CTD’s shares last traded at $25.500 (+0.157% Intraday) with a market capitalization of circa $2.76 Billion as on 1 March 2019.
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