2 Stocks Slipping On ASX - MBM And MLD

  • Nov 15, 2018 AEDT
  • Team Kalkine
2 Stocks Slipping On ASX - MBM And MLD

Mobecom Limited (ASX: MBM)

Mobecom Limited (ASX: MBM) is a full-stack customer engagement technology provider which incurred a loss of $12.14 million in FY 2018 and this was 266.4 percent higher than the loss of FY 2017. In FY 2018, the revenue of the company decreased by 2.64 percent to $1.59 million. In June 2018, the company entered into a Memorandum of Understanding with Lakeba Group Pty Limited, an Australian technology development company, for the development of a Blockchain and Cryptocurrency exchange platform, AirCrypto, for airBux. In the recently released quarterly report, the company announced that it has successfully developed and deployed Phase One of a multiphase contract with Vodacom Group Limited. The company also reported that the implementation of various Spur Group projects in South Africa has been successfully completed and is generating revenue as anticipated. As at 30 September 2018, the company was having $0.486 million worth of Cash which reflects a decrease in cash of $1.4 million since the beginning of the September quarter. The Company’s projected cash outflows for the next quarter amounting to $1.4 million will largely be funded by cash in bank of $486K at the end of the September 2018 quarter as well as debtors’ receipts of $253K plus anticipated sales to customers of $146k and recurring sales amounting to $675K, totaling $1.074 million. The company is expecting additional revenue inflow from recently signed customers, including PT Prima Kota Kencana in Indonesia. It is expected the revenue will increase to approximately $620 million in FY 2019. In the last six months, the share price of the company decreased by 54.00 percent as on 14 November 2018. MBM’ shares traded at $0.110 with a market capitalization of circa $11.35 million as on 15 November 2018 while investors seem to be losing some confidence over the stock. 

MACA Limited (ASX: MLD)

MACA Limited (ASX: MLD) is involved in providing services to the Australia and Latin American mining and construction industries. In FY 2018, MACA delivered a full year net profit after tax of $23.6 million which was 26 percent down on the prior year. At the end of FY 2018, the company was having strong balance sheet with a net cash position of $63 million and with cash on hand of $108 million. In FY 2018, the board declared a final dividend of 3.5 cps, taking the total dividends for the year to 6.5 cents. In the month of January 2018, the company started works for Pilbara Minerals at the Pilgangoora Lithium project which is a new client for the company. In the month of August, the company received a 10-year life of mine contract with Carabella Resources at the Bluff Coal project which represents geographical expansion for the company. The company is expecting an improved trading performance in FY 2019 as the company continues to pursue its strategy of diversifying and expanding the group’s revenue base. In the last six months the share price of the company decreased by 6.75 percent as on 14 November 2018. On 15 November 2018, the company’s shares witnessed an intraday decrease of 25.957 percent and traded at $0.870 with a market capitalization of circa $314.91 million. This dip was noted as many investors expected a better market update during group’s latest AGM.


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