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Global Cues like the US-China trade war, declining bond yield, etc., have been major concerns for the business world. These concerns are affecting the business in terms of national and overseas exposure. Letâs have a look at 4 stock witnessing offshore exposure.
Pushpay Holdings Limited (ASX:PPH)
Pushpay Holdings Limited (ASX: PPH) is a provider of donor management services, including donor tools, finance tools and a custom community app. Pushpay Holdings Limited was officially listed on Australian Stock Exchange (ASX) in 2016. Recently, the company updated the market about the disclosure of movement of 1% or more in substantial holding or change in nature of relevant interest by DDS Trustee Services Limited as trustee of the Dorchester Trust. With respect to the announcement, the total number held in class amounted to 17,472,148, total in class amounted to 275,261,739 and the total percentage held in class amounted to 6.34%.
In another update, the company stated that it has successfully wrapped up bookbuild for Chris Heaslipâs NZ$45.3 million partial sell down and that the bookbuild was oversubscribed. Deutsche Craigs Limited acted as a manager and underwriter for the bookbuild.
Investor Presentation Highlights
Over the year to 31st March 2019, the company reported transactions processed totaling 18.9 million and average transaction volume of US$192 with supported payments in 19 countries. The company posted the following results over the year ended 31st March 2019:
- Total revenues amounted to US$98.4 million, reflecting a rise of 40% on the previous comparable period;
- The net profit after tax of US$18.8 million as compared to the loss of US$23.3 million;
- The average revenue per customer of US$1,315/ month, reflecting a rise of 33%;
- The cash and cash equivalent of US$13.9 million, a fall of 22% over pcp.
Outlook
The company expects EBITDAF to be in the range of US$18.5 million to US$20.5 million in FY20 as compared to the previous guidance of US$17.5 million to US$19.5 million. The company has reaffirmed its guidance for gross margin to be more than 63% and has increased its guidance for total processing volume to be in the neighborhood of US$4.8 billion and US$5.0 billion as compared to the previous guided range of US$4.6 billion and US$4.8 billion.
The stock of Pushpay Holdings Limited, at market close, was trading at $3.070 per share, up 0.656% during the dayâs trade, with a market capitalisation of $839.55 million on 8th August 2019. The stock has provided a return of -9.76% for the one month, -15.28% for three months and -6.73% for the period of six months.
Xero Limited (ASX:XRO)
Xero Limited (ASX: XRO) is involved in providing online accounting software for small businesses. Xero Limited was officially listed on ASX in 2012. Recently, the company via a release announced that Susan Ruth Peterson has changed her holdings by acquiring 803 ordinary shares at a consideration of $47,377. The number of securities held by the director after the change stood at 2,630 ordinary shares with effect from 6th August 2019.
As per the 2019 Annual Report, the company provided highlights on some key metrics. XRO reported 1,818,000 total paying subscribers, up 432,000 on a Y-o-Y basis, with total subscriber lifetime value of $4.4 billion, reflecting a Y-o-Y growth of 36%. The company posted annualised monthly recurring revenues amounting to $638,179,000, up 32% Y-o-Y.
The company in its Investor Presentation outlined the financial year 2019 progress, as per which on average, 1,000 subscribers join XRO every day in the fiscal year 2019, with digitisation of small business compliance, primarily driven by Making Tax Digital policy in the UK and a single touch payroll in Australia and has witnessed a rise of 128% in platform revenues on a Y-o-Y basis.
Cash Flow Details
The company reported the first positive free cash flow amounted to $6.5 million, which is equivalent to 1.2% of FY19 operating revenues. XRO delivered operating cash flow of $114.2 million for the financial year 2019, reflecting a rise of $53.0 million as compared to $61.2 million in FY18. The net cash balance of the company amounted to $100.6 million at 31st March 2019 against $80.0 million as at 31st March 2018.
Outlook
XRO will be continuing to focus on growing its global small business platform and will also maintain a preference for reinvesting generated cash, which is subject to the investment criteria and market conditions in order to drive long term shareholder value.
The stock of Xero Limited, at market close, was trading at a price of $61.010 per share, up 1.802% during the dayâs trade, with a market capitalisation of $8.47 billion on 8th August 2019. The stock has provided a return of -4.25% for one month, 10.88% for three months and 29.66% for the six month period.
Reliance Worldwide Corporation Limited (ASX:RWC)
Reliance Worldwide Corporation Limited (ASX: RWC) designs, manufactures and supplies water flow and controlled products for the plumbing industry. Recently, the company via a release announced that Macquarie Group Limited and its controlled bodies corporate have ceased to be a substantial holder in the company with effect from 1st August 2019. In another update, the company updated the market that it will be releasing FY19 financial results on 27th August 2019.
1H FY19 Financial Performance
The company, with respect to its Americas segment, stated that it witnessed a growth of 21% in net sales over the comparative period. The Americas segment continued market penetration of SharkBite PTC fittings and accessories in the core repair and renovation market, driven by a strong end user demand. The segmentâs gross margin has been affected by processing higher cost copper and one-off raw material quality issues along with new equipment start-up challenges. The segment reported net sales amounting to $323.6 million in 1H FY19 as compared to $266.8 million, reflecting a rise of 21%. Americas has expanded into residential and commercial new construction, accelerating through EvoPEX and Holdrite products. Reliance Worldwide Corporation Limited posted adjusted EBITDA of $130.8 million when compared to $79.3 million, representing a robust increase of 65%.
Americas Segment Results (Source: Company Reports)
Outlook
The company is projecting EBITDA to be in the range of $260 million to $270 million for FY19 as compared to the prior guidance of $280 million to $290 million. The company also provided guidance related to the capital expenditure in the region of $65 million to $75 million, including capital spending for John Guest amounting to almost $25 million and excluding an amount of $8 million for non-recurring facility repair at Cullman.
The stock of Reliance Worldwide Corporation Limited, at market close, was trading at $3.230 per share, up 0.623% during the dayâs trade, with a market capitalisation of $2.54 billion on 8th August 2019. The stock has provided a return of -11.81% for one month, -30.37% for three months and -34.49% for the period of six months.
CYBG PLC (ASX:CYB)
CYBG PLC (ASX: CYB) is an Australia registered company involved in providing banking products and services. The company was officially listed on ASX in 2016. Recently, the company via a release updated the market about the notification and public disclosure of transactions by persons discharging from managerial responsibilities and persons who are closely associated with them. The company stated that two Directors, Ian Smith and Fraser Ingram were discharged from managerial responsibilities by purchasing 90 shares each at the purchase price of £1.6734 under the companyâs share incentive plan.
As per the release dated 1st August 2019, the company updated the market about the total number of voting rights of CYBG, which amounted to 1,433,551,538 as of 31st July 2019. The total number of ordinary shares equated to 533,141,159 and the total number of CHESS Depositary Interests equated to 900,410,379 as at 31 July 2019.
The company reported a disciplined asset and deposit growth in accordance with its strategy. CYB posted mortgage book reduction of 0.2% to £60.4 billion in Q3 FY19 because of higher redemptions in the period and lower new business volumes in accordance with the optimisation strategy of CYBG. The company reported a net interest margin of 168 basis points, which reflected a decline of 3 bps in comparison to 1H FY19 on the back of re-financing impact of a large volume of mortgage redemptions in Q3. The company delivered personal lending growth of 5.7% to £4.8 billion, which primarily driven by strong credit card growth. The company expects net interest margin to be at the lower end of the range between 165 to 170bps.
The stock of CYBG PLC, at market close, was trading at a price of $2.780 per share, up 1.46% during the dayâs trade, with a market capitalisation of $3.93 billion on 8th August 2019. The stock has provided a return of -25.54% for one month, -25.75% for three months and -27.13% for the period of six months.
Disclaimer
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