Two newly listed stocks on the ASX which are catching the eyes of investors and are interesting by the financial results they have posted are covered here.
WCM Global Growth Fund Ltd (ASX: WQG) – Up from a loss of $2.241 million to positive income of $17.788m, revenues from ordinary activities for this fund have increased; and a profit of $10.908 m from ordinary activities after tax has been indicated. Net profit for the period ending June 30, 2018, is up from a loss of $2.275 million to a profit of $10.908 million. No dividends have been paid or are payable from the current year earnings. The company also made total investment gains of $16.849 million for the financial year ended 2018, while the cash and cash equivalents at the end of the financial year June 30, 2018, is $2.28 million representing healthy balance sheet. The price to earnings (P/E) ratio of the stock is 9.210 and the earning per share (EPS) stands at 0.120 AUD. The stock was at a market price of $1.100 with a daily price change of -0.452%, as at September 14, 2018. The stock has risen by 5.24% over the period of last 12 months.
Daily Price Change for WQG, Source: Thomson Reuters.
WAM Microcap Limited (ASX: WMI) – The company reported an operating profit before tax of $42.4 million, for the period ended 30 June 2018, and an operating profit after tax of $30.7 million for the same period. Following the oversubscribed initial public offering that raised $154 million, WAM Microcap commenced operations on June 20, 2017. A fully franked full year dividend of 4.0 cents per share, is announced by the Board, with the maiden fully franked final dividend being 2.0 cents per share, payable on 26 October 2018. For the period to 30 June 2018, driven by the share price premium to NTA and strong portfolio performance of 31.2%, the total shareholder return for the company was 31.4%. The price to earnings (P/E) ratio of the stock is 5.110 and the earning per share (EPS) stands at 0.283 AUD. The stock was at a market price of $1.485 with a daily price change of 2.768%, as at September 14, 2018. The stock has risen by 13.78% over the period of 12 months.
WMI Performance, Source: Thomson Reuters.
The Income available from dividends remains attractive for many investors.
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