Indoor Skydive Australia Group Limited (ASX: IDZ)- Returns To Trade On ASX

September 26, 2018 09:52 AM AEST | By Team Kalkine Media
 Indoor Skydive Australia Group Limited (ASX: IDZ)- Returns To Trade On ASX

Early this morning Australian securities Exchange announced that Indoor Skydive Australia Group Limited have been reinstated to official quotation from the start of today’s trade, 26 September 2018. After reinstatement, the share price of IDZ drifted lower than a previous trading level. It went as low as 10% to trade at $0.099 on 26 September 2018. Prior to reinstatement IDZ last traded on 19 July 2018 at $0.110. The reinstatement of IDZ’s official quotation comes after the release of company’s Preliminary Final Report for the fiscal year ended 30 June 2018. The announcement in relation to the resolution of dispute with Texas-based SkyVenture International Limited contributes another major factor for IDZ’s return on ASX. After the receipt of arbitral award on 19 July 2018, ISA Group and SkyVenture International Limited agreed to a settlement, addressing all issues between them. The settlement provides for ISA Group to pay SkyVenture for its legal costs, to transfer all ownership in the AirRider brands and all economic benefits associated with the Malaysian facility to SkyVenture. In a release of preliminary results for FY18, the company stated that it was a challenging year for ISA group delivering lower than expected performance with statutory net loss of $10,140,582, up from last year’s loss of $891,290. Whereas, underlying earnings before interest, tax, depreciation and amortisation (EBITDA) increased to $2,293,178 from $982,510 in 2017. It may look attractive, but actually it does not take into account the one-off expenses incurred by the company in respect of impairment of AirRider brand, legal fees expense and dispute settlement cost which makes to approximately $8,680,467, nearly four times of underlying EBITDA. [optin-monster-shortcode id="wxhmli4jjedneglg1trq"] Earnings per share continue to stay in negative and during FY18 it jumped to -7.42 cents per share from -0.68 cents per share in FY17. No dividend was recognized or paid for the year ended 30 June 2018. Also, it was seen that cash from operating activities declined from $2,148,332 in FY17 to $879,913 in FY18. This reflects a lower business activity in the second half of the fiscal year 2018, as informed by the company. As at 30 June 2018, cash in hand of ISA group was $953,541. With the revitalized partnership with SkyVenture, ISA Group continues to target medium to long term growth in Australia, China, South East Asia and Hong Kong. IDZ’s stock has seen a performance change of -63.33% over the past one year. The stock last traded at $0.099 on 26 September 2018.

Dividend Stocks To Buy

The Income available from dividends remains attractive for many investors.

We take a look at the best yields on the market and assess what they say about a company’s prospect.

One Thing is certain, though, Australia interest rates are still low, making income difficult to come by and keeping the focus for many investors on high yielding stocks. Kalkine’s team of analysts bought you handpicked report for “Top 25 Dividend Stocks For 2018.”

ASX-relevant Special Reports are published year-round to provide a detailed analysis into an investing opportunity or a potential risk to your portfolio.

Click here to get your free report.


Disclaimer

The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkinemedia.com and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.


AU_advertise

Advertise your brand on Kalkine Media

Sponsored Articles


Investing Ideas

Previous Next
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.