Australian benchmark index Surpassed 7k mark; three stocks under focus – CAT, PRO, CGC

  • Jan 16, 2020 AEDT
  • Team Kalkine
Australian benchmark index Surpassed 7k mark; three stocks under focus – CAT, PRO, CGC

S&P/ASX 200 index has further moved up by 47 points to reach at 7,041.8, a new record high for the index. What has caught our attention is the S&P/ASX 200 Information Technology (Sector) index which moved up by 1.7% during today’s trade.

It is to be noted that Catapult Group International and Prophecy International Holdings Limited, two technology companies, both have witnessed significant growth in their share price today. Let us look at these stocks in detail.

Catapult Group International (ASX: CAT)

Catapult Group International is a leading technology company of Australia which is mainly involved in the monitoring of athletes in different disciplines.

Today’s Announcement - Major League Rugby to implement Catapult’s Technology

Major League Rugby (MLR), the premier rugby union competition in North America, has implemented Catapult Group International’s (ASX:CAT) technology for all 12 of its teams starting with the 2020 season, headlining a list of new US signings to start 2020.

I know the difference that their products can make for professional athletes and I feel this partnership is crucial for continued development of our athlete’s training, and our league analytics” commented MLR Commissioner George Killebrew.

Last month, Catapult also signed multiple high profile and strategic elite clients in the US: Cleveland Indians and Toronto Blue Jays (Major League Baseball), Texas Tech University, Stanford University, University of Iowa, and Los Angeles FC and New York Red Bulls academy (Major League Soccer).

In addition to this, the company recently announced the signing of DIMAYOR, Colombia’s premier football competition, who chose to implement Catapult for all 36 of its teams across first and second division, implementing both wearable technology and video analysis products.

CAT witnessed an increase of 11.47% in its share price during today’s trade. At market close on 16 January 2020, CAT was trading at a price of $2.040 with a market cap of around $349.34 million.

Prophecy International Holdings Limited (ASX: PRO)

Software development company, Prophecy International Holdings Limited (ASX: PRO) announced preliminary results for H1 FY20 that show a significant improvement over FY19 with top line revenue growth reaching 19.5% against the same period last year.

For the same period, the company expects sales revenue of around $7.31 million vs $6.12 million for the same period last year.

Overall this is a great result and shows that not only are we continuing to grow but we are in fact accelerating and delivering a profit while we grow” said Prophecy CEO, Brad Thoma while commenting on the results. He further added that “Snare continues to perform well on the back of our US business, our eMite relationship with Genesys continues to deliver results and the early response to our Amazon Connect offering has been incredibly positive with some large customers and partners coming on board since launch”.

The company is about to launch an offering at the Genesys Sales Kick Off in Orlando in January this year a new offering to assist customers migrate from their legacy on premise contact centre solution to the cloud.

eMite Highlights

  • A total of 45 new eMite customers added in the first half – an average of 7.5 per month vs 59 in the same period last year – however as CX Intelligence by eMite moves into Large Enterprise we have seen a significant shift in average contract values.
  • 10 new sales of CX Intelligence for Amazon Connect;
  • Average 1CV (first year contract value) increased to $36,990 from $14,733 in the same period last year – a 150.5% increase in deal size.

Snare Highlights

  • $4.010M in new business Snare sales vs $2.878 million for H1 last year – a 39.3% increase
  • 312 new business sales in the half at an average of value $12,853 an increase of 54.6% against the average deal size last year
  • Blue chip customers including Gemalto in EMEA, Principal Financial, QBE, Global Foundries, Metlife in the US and Dept Employment, Skills, Small & Family Business in Australia.

The stock of PRO witnessed an increase of 23.077% during day’s trade. The stock is trading at a price of $0.560, near to the 52-weeks high. In the last six-months, PRO’s stock has provided a return of 16.67% to its shareholders.

Costa Group Holdings Limited (ASX: CGC

The shares of, Australia’s leading grower, packer and marketer of fresh fruit and vegetables, Costa Group Holdings Limited, witnessed an uplift of 3.5% during today’s intraday trade despite of not releasing any price sensitive information today.

Last month, the company had announced the resignation of its Chief Financial Officer (CFO) Linda Know who had contributed significantly to the Costa business over almost a decade of service.

1H CY2019 Financial Highlights

  • Revenue of $573m – growth of 11.8% on the prior comparative period
  • Statutory NPAT of $41.1m, inclusive of material items and amortisation of intangibles relating to the African Blue acquisition, and adoption of IFRS16 from January 2019
  • EBITDA before SGARA, leasing and material items (EBITDA-SL) $82.4m – 8.4% lower than the prior comparative period
  • NPAT before SGARA and leasing (NPAT-SL) of $40.9m - $7.2m lower than the prior comparative period
  • Dividend of 3.5 cents per share, fully franked paid on 3 October 2019, recognising major growth initiatives in train

In November 2019, the company had completed the retail component of its fully underwritten 1 for 4 pro rata accelerated renounceable entitlement offer with retail rights trading, with approximately $66 million in successful applications received, representing a participation rate of approximately 74%.

At market close on 16 January 2020, CGC stock was trading at a price of $2.580 with a market cap of $1.01 billion.


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