Stocks In Red Zone – MYX, CGC, SOL

  • May 15, 2019 AEST
  • Team Kalkine
Stocks In Red Zone – MYX, CGC, SOL

Mayne Pharma Group Limited

Mayne Pharma Group Limited (ASX: MYX) is a specialty pharmaceutical company which develops and globally commercializes branded and generic pharmaceutical products from its facilities located in Greenville, USA and Salisbury, Australia. With a market capitalisation of AUD 894.36 million, the MYX stock settled the day’s trading at a price of AUD 0.555, down 1.77% by AUD 0.010 on 15th May 2019.

Recently, the company published its Market Update for the 10-month period to April 30th, 2019. Accordingly, the Group reported a total revenue of ~$ 154 million for the first four months of the calendar year 2019 and a gross profit of ~ $ 79 million. Of all the business segments, the Specialty Brands Division performed the best with sales of $ 28 million, up 53% on the prior corresponding period (pcp). Besides, the Metrics Contract Services recorded $ 25 million (+21% pcp) of revenue and the Mayne Pharma International’s revenue amounted to $ 12 million (+8%pcp). The Generic Products Division witnessed a 32% decline in its revenue to $ 89 million.

The Group is actively rebalancing the portfolio towards high-growth therapeutic segment:

Source: Mayne Pharma’s Goldman Sachs Emerging Companies Conference Presentation

Costa Group Holdings Limited

Costa Group Holdings Limited (ASX: CGC), established in 1888 and based in Ravenhall, Australia, is a horticulture company that produces, packs, and markets fruits and vegetables to food retailers and FMCG companies in Australia. The consumer staples company has a market capitalisation of around AUD 1.61 billion and approximately 320.55 million outstanding shares. On 15th May 2019, the CGC stock closed the market trading at AUD 4.960, dipping 1.39% by AUD 0.070 with ~ 4.07 million shares traded.

Recently, the Commonwealth Bank of Australia increased its voting power in the company from 3.37% to 4.27% upon purchase of additional fully Paid ordinary shares.

The Group released its Annual report for the six months financial period from July to December 2018 (FP2018) whereby Costa delivered $ 8.5 million of underlying net profit after tax and its total revenue was ~ $ 477.6 million (FY2018: $ 1,002 million). Its three reportable segments include- Produce (five core categories including berries, mushrooms, citrus, glasshouse-grown tomatoes and avocados); International (licensing of proprietary blueberry varieties and expansion of berry farming in Morocco and China); and lastly Costa Farms and Logistics (CF&L) (logistics, wholesale and marketing operations).

Source: Company’s Annual Report FP2018

Washington H Soul Pattinson & Company Limited

Washington H. Soul Pattinson and Company Limited (ASX: SOL) is based in Sydney and operates primarily as an energy sector company and engaged in a plethora of activities including coal mining, gold and copper mining & refining, ownership of shares and property, retailing of pharmaceutical product as well as business consulting. With a market capitalisation of around AUD 5.45 billion and ~ 239.4 million outstanding shares, the SOL stock dropped to the low of AUD 22.220 during the day before settling the day’s trading at AUD 22.800.

The company closed the half-year to 31st January 2018 with a record high regular profit after tax of $ 186.7 million, which is 12.2% higher on the first half of 2018. Besides, the net regular cash from operations amounted to around $ 92.0 million (24.8% up on 1H 2018). Some of the other key highlights for the period are as follows:

Source: Half year financial report for six months to 31st January 2019


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