Business updates of 5 Stocks - Nufarm, Nanosonics, Nine, Nearmap and Netwealth

  • Nov 25, 2019 AEDT
  • Team Kalkine
Business updates of 5 Stocks - Nufarm, Nanosonics, Nine, Nearmap and Netwealth

At the time of writing on 25th November 2019, the benchmark index, i.e. S&P/ASX 200 is trading at 6729.9 with a rise of 0.3% or 20.1 points. In the below article, we will be discussing about some stocks starting from letter N having different businesses. Let’s have a look at five stocks with their recent updates:

Nufarm Limited

Nufarm Limited (ASX: NUF) is involved in manufacturing and sale of crop protection products and its proprietary seed technologies business.

Investigation with External Auditors.

  • The company through a release dated 25th November 2019 announced that within the span of reconciling accounts with German customers for the 2019 calendar year, NUF has identified additional sales rebate claims from customers, which relates the financial year 2019.
  • It added that the matter was immediately investigated with its external auditors. While the investigation is on track, it is not anticipated to result in a restatement of FY19 financial results but would be resulting in an adjustment to half year results for FY20.
  • NUF expects to experience impact on earnings before interest, tax, depreciation and amortization of around A$9 million from completion of the investigation and negotiation with customers.
  • The company also mentioned in the release that it has noted that the trading conditions have been challenging for FY20 to date and this has resulted in lower earnings in all regions for the Q1 against the previous year.

Also Read: Nufarm Limited’s deal to sell South American operations.

The stock of NUF closed at a price of $5.080, with a decline of 17.532% as on 25th November 2019. NUF has delivered returns of 39.05% and 33.62% during the last three months and six months, respectively.

Nanosonics Limited

Nanosonics Limited (ASX: NAN) is in involved in research development as well as commercialization of innovative technologies in areas of infection control and decontamination.

Key Personnel’s Statement

The company recently completed its 2019 Annual General Meeting on 18th November 2019, wherein the Chairman of the company addressed the shareholders and stated the following:

  • The company has again witnessed impressive financial result in FY19 with a rise of 39% in revenues and the figure stood at $84.3 million. Moreover, NAN experienced a robust surge of 201% to $16.8 million in operating profit before tax.
  • The Chairman added that NAN a return on invested capital (ROIC) of approximately 15%, which is well in excess of its cost of capital.
  • In addition, strong financial results delivered by the company coupled with the positive market sentiment, reflects high indication and is supportive of the growth prospects of the company.

Also Read: A surge of 27% in share price post-release of FY19 results.

The stock of NAN is trading at a price of $6.800, with a decline of 1.734% as on 25th November 2019. NAN has delivered returns of 38.12% and 52.09% during the last three months and six months, respectively.

Nine Entertainment Co. Holdings Limited

Nine Entertainment Co. Holdings Limited (ASX: NEC) is primarily into broadcasting and program production throughout Free to Air television as well as metropolitan radio networks in Australia. Nine Entertainment Co. Holdings Limited and other entities have made changes to their substantial holdings in Yellow Brick Road Holdings Limited on 20th November 2019 and the current voting power stands at 15.29% as compared to the previous voting power of 17.8%.

Trading of Q1 FY20 and Future Outlook

  • The company via a release announced that the current weakness in consumer sentiment in Australia has manifested itself in weak trading conditions for many consumer facing businesses, as well as general softness in the overall advertising market.
  • For the Q1 FY20, the company’s Metro Free-to-Air business witnessed a leading revenue share of 39.8%, however, the market witnessed a fall of 6.4% as compared to last year, which was mostly in accordance with the overall advertisement market.
  • It added that the FTA market in the Q2 might be down by at least as much as Q1. It currently anticipates the market to decline by mid-single digit throughout the financial year.

Also Read: Nine’s bid for the acquisition of Macquarie Media Limited

The stock of NEC closed at a price of $1.660, with a decline of 0.896% as on 25th November 2019. NEC has delivered returns of -14.10% and -14.10% during the last three months and six months, respectively.

Nearmap Ltd

Nearmap Ltd (ASX: NEA) is engaged in providing technology for geospatial map for the customers such as enterprises, businesses and governments.

Ceasing of Substantial Holder and Issue of Securities

  • The company recently announced that Mitsubishi UFJ Financial Group, Inc. has ceased to become substantial holder in Nearmap Ltd on 12th November 2019.
  • In another update, the company stated that it has issued 812,101 director options on 15th November 2019. The options have been issued to Managing Director/ CEO as a long-term incentive, which was approved by shareholders on 14th November 2019.

FY19 Performance

  • As stated by key personnel of the company, FY19 has proven to be a year of execution. During the year, it provided an expansion to its product portfolio, which featured 3D commercially in MapBrowser.
  • The ANZ business of the company have continued to deliver robust growth in FY19 with ACV growth of more than $9 million.

Also Read: An upside movement by Nearmap.

The stock of NEA closed at a price of $2.730 on 25th November 2019. NEA has delivered returns of -0.72% and -19.24% during the last three months and six months, respectively

Netwealth Group Limited

ASX-listed Netwealth Group Limited (ASX: NWL) generally provides superannuation and non-superannuation products to financial intermediaries as well as clients.

A strong welcome to FY20

  • Recently, the company updated the market participants with the results for the quarter ended 30th September 2019 (Q1 FY20), wherein, FUA of the company witnessed a rise of 31.3% to $25.3 billion as compared to 30th September 2018.
  • As at 30th September 2019, funds under management of the company stood at$4.4 billion, reflecting a rise of $0.5 billion against the previous quarter.
  • In July 2019, the company has been awarded the SMSF platform provider for the year at an award function.

Also Read: A notable growth in the earnings for FY19.

The stock of NWL closed at a price of $8.680 per share on 25th November 2019. NEA has delivered returns of 13.38% and -8.39% during the last three months and six months, respectively


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