A growth stock is generally referred to a share of a company which is expected to witness a growth at a higher rate in comparison to the market average. These types of stocks do not usually provide a return in the form of dividends. These companies generally reinvestment their earnings in order to accelerate revenue and earnings growth in the future. In the article below, we will be digging into five ASX-listed growth shares with their recent updates:
Dubber Corporation Limited
Dubber Corporation Limited (ASX: DUB) is into provisioning of call recording and audio asset management in the cloud.
Issue of Securities
- On 16th October 2019, the company has issued 150,000 fully paid ordinary shares at the issue price amounting to $0.40 per share.
- The shares have been issued on exercise of unlisted options exercisable at $0.40 and expiring on 31 March 2020.
Financial Performance for the year ended 30 June 2019
The company, through a release dated 30th August 2019 updated the market participants with its results for the year ended 30 June 2019, wherein it mentioned the following key points:
- In FY19, it experienced a rise of 222% in an active number of users and the figure reached to almost 95,000. The company further stated that as of 30th June 2019, 43 telecommunication carriers were being billed by the company, against 23 as on 30 June 2018.
- It added that a total of 106 telecommunication carriers have agreed to implement the Platform provided by DUB, which reflects a rise from 36 at the end of the previous financial year.
- For the 12 months to 30 June 2019, it witnessed a robust increase of 269% in operating revenue. It continued to experience growth in user numbers at increasing rates throughout FY19.
- It was mentioned that the revenues from this user uptake are anticipated to continue into FY20 in accordance with standard billing cycles and commercial terms.
Dubber Corporation Limited was last traded at a price of A$1.585 per share with a fall of 2.16% on 18th October 2019. It went up by 67.88% in the time frame of six months. On Year to date basis, the stock produced a return of 315.38%.
Nanosonics Limited (ASX: NAN) is primarily in the manufacturing and distribution of the Trophon® ultrasound probe disinfector and its associated consumables as well as accessories.
A look at Directors Interest
The company has released a series of announcement stating the changes made by directors in their holdings:
- On 8th October 2019, Geoffrey Wilson acquired 3,237 ordinary shares at the consideration of $19,784.70, which led to change in holdings of Geoffrey Wilson. Following the change, Geoffrey Wilson possesses 3,327 ordinary shares.
- In another update, the company announced that Richard England has ceased to become a director in the company from 31st August 2019.
Issue of Securities
In order to fulfil the terms of Nanosonics Omnibus Equity Plan as well as the Nanosonics Employee Share Option Plan, NAN has issued 346,640 fully paid ordinary shares on exercise of 286,556 performance rights and 60,084 options. The total consideration was $171,239.40 The Securities have been issued on 17th September 2019.
Highlights of the financial year ended 30 June 2019
- The company posted record full-year sales amounting to $84.3 million, reflecting a rise of 39% as compared to prior corresponding period (pcp).
- For the year ended 30th June 2019, the operating profit before tax stood at $16.8 million, with a robust rise of 201% on pcp.
- On the operational front, the company stated that the development of Japanese market is continuing with the establishment of a wholly-owned Nanosonics entity, regulatory approval of trophon as well as the distribution agreement inked with GE Healthcare in Japan.
Nanosonics Limited was last traded at a price of A$6.850 per share with a fall of 0.436% on 18th October 2019. It went up by 50.55% in the time frame of six months. On Year to date basis, the stock produced a return of 147.48%.
Afterpay Touch Group Limited
Afterpay Touch Group Limited (ASX: APT) provides technology-driven payments solutions for consumers and businesses via its Afterpay and Pay Now services and businesses.
On 16th October 2019, the company has issued 49,998 fully paid ordinary shares at the issue price of $16.96 per share. It was mentioned that the shares have been issued upon exercise of 49,998 options, which was issued to senior executives of APT under its Plan.
Notice and Business items of 2019 Annual General Meeting
The company through a release announced that it would be conducting its 2019 Annual General Meeting on 13th November 2019 and following will be the key business items:
- Adoption of the remuneration report.
- Increase in maximum aggregate remuneration for non-executive directors.
- Re-Election of Mr Clifford Rosenberg as director.
- Ratification of issue of shares pursuant to placement.
- Approval of the Afterpay equity incentive plan.
- Approval of LTI Grant to Chief Executive Officer and Managing Director.
- Approval of LTI Grant to Global Chief Revenue Officer and Executive Director.
- Approval of Change of the company’s name to Afterpay Limited.
For the full year ended 30 June 2019, the company reported underlying global sales with a rise of 140% and the figure stood at $5.2 billion. At the end of FY19, active customers reached 4.6 million, reflecting an increase of 130%. On the operational front, the company entered into a strategic partnership with VISA in order to underpin future expansion as well as platform innovation in the United States.
Afterpay Touch Group Limited was last traded at a price of A$29.650 per share with a decline of 7.286% on 18th October 2019. It delivered a return of 37.02% in the time frame of six months. On Year to date basis, the stock produced a return of 166.50%.
Megaport Limited (ASX: MP1) is mainly into the provisioning of on-demand elastic interconnection services as well as internet exchange services.
Growth Trends of MP1
- The company has recently published a presentation stating the operational highlights of FY19, which are as follows:
- MP1 stated that ecosystem richness creates greater service connection opportunities as well as growth in services reflects overall customer usage on the network.
- It added that a rise in services per Port fuels greater MRR (Monthly Recurring Revenue) growth and increased Revenue per Port. The MRR of MP1 stood at $3.6 million, which indicates an increase of 82% in comparison to June 2018.
In the upcoming years, the company would be focusing on an aggressive global expansion strategy while continuing to innovate the product set in order to maintain its first-mover advantage as well as to deliver greater value to customers and partners.
Megaport Limited was last traded at a price of A$10.220 per share with a rise of 1.088% on 18th October 2019. It went up by 86.88% in the time frame of six months. On Year to date basis, the stock produced a return of 170.32%.
PolyNovo Limited (ASX: PNV) is involved in the development of innovative medical devices for numerous applications. The company utilizies NovoSorb®, which is a patented bioabsorbable polymer technology.
2019 Annual General Meeting
In the recent release, the company stated that it would be holding its 2019 Annual General Meeting on 15th November 2019 and following will be the key resolutions:
- Re-election of Directors.
- Remuneration Report.
- Non-executive Directors’ Fees.
- Employee Share Option Plan.
- The company through a release dated 16th September 2019 announced that it has appointed Mr Ed Graubart as Senior Vice President of PolyNovo North America LLC with direct oversight of all sales and marketing functions in the US business.
- It was mentioned that the new appointment would enable PolyNovo to quickly scale up its American sales and marketing.
A look at Pivotal Trial
- On 5th September 2019, the company had a pre-submission meeting with the US Food and Drug Authority in relation to its full thickness burn study. It was stated that US FDA has confirmed that it sees the potential of NovoSorb BTM for this burn population.
- The clinical trial team of the company is currently revising the protocol design in order to incorporate FDA input and plans to submit it to the FDA in December 2019. The revised timelines would imply that patient recruitment is scheduled for Q4 FY20
PolyNovo Limited was last traded at a price of A$2.400 per share with a fall of 0.415% on 18th October 2019. It went up by 164.84% in the time frame of six months. On Year to date basis, the stock produced a return of 301.67%.
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