Live ASX News Today
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13th Oct 07:42 PM AEDT
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13th Oct 07:09 PM AEDT
Swift (ASX:SW1) Signs New Aged Care Agreements Worth A$1.1M
Swift Media Limited (ASX:SW1) announced on 13 October 2021 that it has entered into new agreements to deploy the Company’s proprietary communication and entertainment solutions to 20 sites across four key Aged Care clients.
The Total Contract Value of the agreements is AU$1.1 million. Out of this, 66% is recurring revenue. They include:
- Resthaven has employed Swift for Swift On Demand and Swift Plus communications and entertainment platforms to its three sites. These sites feature a total of 301 rooms.
- Mark Moran Vaucluse will roll out the Swift On Demand system to both residential Aged Care and Independent Living units with a total of 181 rooms.
- NSW-based Hall and Prior’s Greenfields site will be putting up Swift Plus with Foxtel soon.
The stock SW1, on the news, gained considerably and closed 4.166% strong at AU$0.025 per share on the ASX.
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13th Oct 06:56 PM AEDT
Virtus Health (ASX:VRT) closes on the higher side. Here’s why
Virtus Health Limited (ASX:VRT) provided an update on the Australian Competition and Consumer Commission’s (ACCC) review of Virtus’ proposed acquisition of Adora Fertility and three day hospitals from Healius Limited (ASX:HLS).
Virtus shared that it constructively engaged with the ACCC on the Acquisition since it was announced on 23 August 2021 including since 21 September 2021 when the ACCC announced it would conduct a Public Review process of the Acquisition.
On 10 September 2021, Virtus advised the ACCC of the imperatives necessitating prompt completion of the Acquisition and agreed to provide the ACCC advance notice of the completion of the Acquisition. That notice was provided to the ACCC on 8 October 2021.
The release informed that ACCC’s Public Review is ongoing. ACCC has mentioned to Virtus that it seeks an interim order from the Federal Court to prevent the impending completion of the Acquisition.
Virtus shared that it remains committed to complete the Acquisition and will defend any proceedings.
The stock VRT, backed by the positive update, closed a tad higher at AU$5.490 per share on the ASX.
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13th Oct 06:50 PM AEDT
Resonance Health (ASX:RHT) develops newest AI medical device, LiverSmart
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ASX-listed Australian healthcare Company Resonance Health Ltd (ASX:RHT) announced on 13 October 2021, the development of its newest AI medical device, LiverSmart, which is now undergoing final quality and verification checks prior to its submission to the United StatesFood & Drug Administration (FDA) for regulatory clearance.
The Company today apprised that by combining two existing regulatory-cleared Resonance Health products, FerriSmart® and HepaFatAI®, into a single multi-parametric MRI session, LiverSmart avoids the need for multiple MRI appointments, and delivers a more complete and comprehensive assessment of a person’s liver. Instead of obtaining individual FerriSmart® and HepaFat-AI® reports via different scanner sessions, which adds to cost, patients and clinicians will shortly be able to receive both analyses simultaneously with one referral in one consolidated report, said the Company.
The announcement revealed that LiverSmart’s use remains subject to regulatory clearances including with the US FDA which is expected to take approximately 45 days from submission, or longer if the FDA have queries.
The stock RHT today closed at AU$0.095 per share on ASX, up 9.195% over the previous close.
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13th Oct 06:21 PM AEDT
Lepidico (ASX:LPD) closes 4.3% strong. Here’s why
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ASX-listed Australia-based mineral exploration and development company Lepidico Ltd (ASX:LPD) shared on 13 October 2021 that the Company has reached a significant milestone that demonstrates it can produce catalyst grade caesium compounds.
The Company revealed via an announcement that the samples of caesium sulphate and caesium hydroxide have been generated and are in the process of being dispatched for customer evaluation. Besides, additional pieces of caesium hydroxide are in the process of being manufactured.
According to the announcement, consumers have advised that the caesium market is on the cusp of tightening as one of just two size producers of caesium chemicals globally stops production due to depletion of pollucite raw material feed source.
The Company informed that Lepidolite is a viable source of caesium when processed using Lepidico’s proprietary hydrometallurgical technologies.
Today, the stock LPD closed at AU$0.024 per share, up 4.347% on ASX.
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13th Oct 06:17 PM AEDT
Challenger (ASX:CGF) reports solid growth in total life sales in quarterly performance update
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ASX-listed investment management firm Challenger Limited (ASX:CGF) on Wednesday reported results for first-quarter, with the Company’s assets under management (AUM) growing 3% for the quarter, backed by strong Life book growth and Funds Management net flows.
In its first-quarter performance update announced today, the Company revealed:
- Group assets under management AU$113 billion, up 3% for the quarter.
- Funds Management FUM up 2% for the quarter, including AU$1.4 billion of net flows.
- Bank acquisition accelerating growth through direct-to-customer reach.
- Total Life sales increased AU32% to AU$2.1 billion, demonstrating the success of Challenger’s diversification strategy.
- Life’s investment assets as of 30 September 2021 were AU$22.0 billion, rose by 2% for the quarter, reflecting netbook growth and retained earnings.
Today, the stock CGF closed at AU$6.340 per share on ASX.
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13th Oct 06:09 PM AEDT
American Pacific Borates (ASX:ABR) closes higher on ASX. Here’s why
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ASX-listed Company engaged in the development and mining of lithium resources American Pacific Borates Limited (ASX:ABR), via an announcement on Wednesday, provided an update on its value engineering program for its important Fort Cady Integrated Boron Facility in Southern California.
The Company informed that positive progress on value engineering activities has been made for the Fort Cady Integrated Boron Facility over the past few months, which will ultimately deliver stronger project economics and reduce production risk.
The Company stated that it is currently targeting completion of an updated BFS in Q2, CY2022; following this, it will move swiftly into construction-related activities designed to deliver meaningful production from the orebody to benefit from a tightness North American supply of boron. According to today’s announcement, initial engineering, including material and energy balances, and process flow, have been completed. In addition, ABR is on track for the initial production of boron specialty advanced materials in 2H CY2022 from its Small-Scale Boron Facility.
ABR closed 2.083% higher at AU$1.470 per share on ASX.
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13th Oct 06:09 PM AEDT
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13th Oct 04:01 PM AEDT
MyState (ASX:MYS) appoints Brett Morgan as new CEO
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ASX-listed Australian financial group MyState Limited (ASX:MYS) on Wednesday announced the appointment of Brett Morgan as the new Managing Director and CEO of the Company. Morgan will succeed Melos Sulicich on this post. The Company informed that Morgan was selected after an extensive search process that included well qualified and experienced bank leaders in Australia and New Zealand.
Morgan, Sydney-based, is serving as Chief Executive Officer, Banking and Wholesale at ASX listed BNK Banking Corporation Limited (ASX:BBC). He has vast digital banking experience, having held various key executive roles at ING DIRECT, Australia’s first digital bank. Morgan worked at ING DIRECT for 15 years at different posts. In the year 2012, Morgan was appointed as Country Head Branch Banking, Marketing and Private Clients at ING Vysya Bank in India, 40% owned by ING Group.
According to the announcement, Morgan will commence with MyState in January 2022.
Today, the stock MYS was spotted trading at AU$5.100 per share, up by over 3% on ASX at 3:29 PM AEDT.
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13th Oct 04:00 PM AEDT
Poseidon Nickel (ASX:POS) signs MoU with PBT to study battery materials refinery in WA
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ASX-listed nickel sulfide exploration and development company Poseidon Nickel Limited (ASX:POS) shared on 13 October 2021 that the Company has entered into a Memorandum of Understanding (MoU) with Pure Battery Technologies (PBT). The MoU has been signed to study the merits of Poseidon supplying nickel concentrate to PBT’s proposed pCAM refinery planned to be constructed in WA.
According to the announcement, PBT which is an Australian based company is advancing plans to build and operate a battery material refinery hub in Kalgoorlie, WA. PBT is targeting initial production of up to 50,000tpa of up to 50,000tpa of pCAM.
The announcement revealed that via this MoU, the two companies will evaluate the establishment of a regional pCAM refining hub.
Today, the stock POS was spotted trading over 4% higher at AU$0.105 per share on ASX at 3:05 PM AEDT.
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13th Oct 04:00 PM AEDT
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13th Oct 03:25 PM AEDT
Pantoro (ASX:PNR) gets approval for construction at Norseman Gold Project
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ASX-listed mineral exploration and production company Pantoro Limited (ASX:PNR) confirmed via an announcement on 13 October 2021 that it has now received all approvals required for construction of the Processing Plant at the Norseman Gold Project (PNR:50%).
The Company informed that the Construction has begun with the following highlights:
- Processing plant constructor has essentially mobilised to the site with work under progress.
- The old processing plant demolition and site clean-up has been completed with the site prepared for immediate construction.
- The new accommodation village is operational with construction personnel being housed in the new facility.
- Site civil and earthworks are underway.
- Close to 65,000 tonnes of gold bearing ore was recovered from the foundations of the old processing plant and is immediately available for processing plant start up.
Meanwhile, today the stock PNR was spotted trading at AU$0.205 per share on ASX at 2:05 PM AEDT.
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13th Oct 03:24 PM AEDT
Wellfully (ASX:WFL) executes A$5 million placement
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ASX-listed Australian science-based wellness Company Wellfully Limited (ASX:WFL) announced an oversubscribed placement through commitments received of AU$5 million before costs from s708 clients of CPS Capital.
The Company stated today that it is at an exciting juncture of its corporate development, with all key programs rapidly progressing towards notable commercial milestones.
According to the announcement, the proceeds from the Placement aim to facilitate the advancement of the following activities:
- RÉDUIT marketing and sales initiatives
- Consumer engagement via enhanced marketing (influencer, key opinion leader (KOL) and media engagement)
- Implementation of new B2B collaborations
- Development and launch of new devices
- Completion and launch of RÉDUIT Active Sunscreen and Boost Applicators
- Initiation of marketing activities and engagement with potential collaborators.
- Global licensing, ODM and OEM collaborations
- The continued progression of the WFL's collaborations with global partners.
The Placement will consist of a maximum issue of up to 38,461,539 shares at AU$0.13 per share.
The shares of the Company are trading 10.345% lower at AU$0.130 on the ASX at 3:00 PM AEDT.
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13th Oct 03:21 PM AEDT
Here’s why the stock Equinox Resources (ASX:EQN) is grabbing limelight on ASX today
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Australia-based development focussed company Equinox Resources Limited (ASX:EQN) on Wednesday announced its successful listing on the Australian Securities Exchange (ASX) following an oversubscribed Initial Public Offering (IPO) to raise AU$9 million via the issue of 45,000,000 new fully paid ordinary shares.
In today’s announcement, the Company informed the completion of the acquisition of the Hamersley Iron Ore Project has been completed as part of the IPO. Besides, Equinox has welcomed Pathfinder Resources Limited (ASX:PF1), Lockett Fe Pty Ltd (a subsidiary of Cazaly Resources Ltd (ASX:CAZ)) along with the remainder of EQN’s shareholders as investors in the Company.
Equinox revealed that now the Company is looking forward to commencing its work on its recently acquired Hamersley Iron Ore Project in the Pilbara region of Western Australia.
Today, the stock EQN traded in green at AU$0.275 per share on ASX at 2:18 PM AEDT.
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13th Oct 01:49 PM AEDT
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13th Oct 01:41 PM AEDT
EnviroSuite (ASX:EVS) to join NASA’s revolutionary X-59 supersonic consortium
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ASX-listed leading environmental technology company EnviroSuite Limited (ASX:EVS), on Wednesday, provided a market update on its recent win with NASA to be part of the X-59 Community Response Testing consortium project.
The announcement revealed that EnviroSuite’s participation in the project is an indefinite-delivery/indefinite-quantity contract with eight years of performance.
The Company informed that it has been contracted to provide a software platform to collect, process and visualise data from NASA’s low-sonic boom flight tests. This will allow NASA and members of the testing team to study the low sonic booms produced by aircraft collectively with the community response in real-time.
It is pertinent to mention that NASA is developing the X-59 research aircraft with technology that it believes will decrease the loudness of a sonic noise to that of a gentle thump. In addition, NASA’s aeronautical developers are spearheading a team across government and industry to assemble data that could enable supersonic flight over land, significantly decreasing travel time within the US or anywhere globally.
Meanwhile, the stock EVS was spotted trading over 12% higher on ASX at AU$0.185 per share at 1:22 PM AEDT.
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13th Oct 01:40 PM AEDT
Actinogen (ASX:ACW) received R&D Tax Incentive of A$1.435M
Actinogen Medical Limited (ASX:ACW) announced on 13 October 2021 that it has received a Research and Development (R&D) Tax Incentive rebate of AU$1.435 million for the 2021 financial year.
The rebate’s timing and value are in line with expectations disclosed in the Company’s annual report for the year ended 30 June 2021.
Meanwhile, the stock ACW was quoted at AU$0.110 per share at 1:20 PM AEDT.
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13th Oct 01:19 PM AEDT
Crude oil steadies after recording a mind-blowing rally
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Crude oil prices were steady on Tuesday after recording a rally that has brought the prices to multi-year high levels, raising concerns that higher energy costs would hamper the economic growth. December delivery Brent Crude oil futures last traded at US$83.20 per barrel down 0.08%, whereas November delivery WTI crude oil futures traded 0.20% down at US$80.48 per barrel as of 13 October 2021 at 11:53 AM AEDT.
The prices of Brent crude have risen for a fifth consecutive week while WTI crude has notched to seven weeks of gains. Both the benchmarks have gained more than 15% since September.
Power prices in various parts of the world surged including Asia and Europe to record high levels. China on the other hand is expected to face the energy crisis throughout 2021, folding growth in the country known for its exports.
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13th Oct 01:19 PM AEDT
India’s power grids are struggling to meet the resurgent energy demand
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India has faced a persistent shortage of electricity since the beginning of October as the country’s power plants were unable to fulfill the rising electricity demand as the economy rebounds after last year’s coronavirus recessions.
The rapidly growing energy demand and lagging supply are creating the shortage of electricity in China and increasing gas prices in Asia and Europe.
The power crisis has been building for few weeks, initially due to a fall in coal stocks followed by a deterioration in the frequency of the grid. India has a grid frequency target of 50 Hertz, with controllers aiming it to lie between 49.90Hz to 50.05Hz to keep the network is a safe and reliable condition.
However, the average frequency has tumbled below target since the beginning of October, increasing the shortfall and indicating a chronic electricity generation shortage.
Shortage of Coal
Thermal power plants which are run by coal were unable to operate as per the demand of customers and generation plan. The cumulative power production since the beginning of April has tumbled 21.5 Terrawatt hours behind the plan. Currently, the power plants have fallen 21.7TWh behind the plan from a deficit of 9.7TWh at the end of August.
The power plants in the country are facing an acute shortage of fuel to meet the planned generation. The plants across the nation are currently holding an average of just four days of fuel relative to 19 days in the same month during 2020.
Various states of the country are facing power outages as the grid is struggling to meet the high levels of demand.
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13th Oct 01:18 PM AEDT
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13th Oct 01:08 PM AEDT
Fiji Kava’s (ASX:FIJ) partner Chemist Warehouse completes First Investment Milestone
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ASX-listed Australia based pharmaceutical company Fiji Kava Limited (ASX:FIJ) announced on 13 October 2021 the completion of the first tranche of funding under their Strategic Partnership agreement with Chemist Warehouse.
The Australian-Fijian medicinal kava company informed that Tranche 2 is conditional on Chemist Warehouse meeting performance targets in FY23.
According to the announcement, the partnership sees Chemist Warehouse receive around 12,995,454 shares in Fiji Kava in a strategic association that has expanded Fiji Kava's presence in Chemist Warehouse stores in Australia, complementing the existing national distribution in Coles supermarkets.
The partnership will also see Fiji Kava products in Chemist Warehouse online.
The two companies had announced a Strategic Partnership on 27 July 2021, which included AU$1.43 million investment over two tranches.
Meanwhile, the stock FIJ was spotted trading at 0.086 per share on ASX at 12:37 PM AEDT.
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13th Oct 01:04 PM AEDT
IDT Australia (ASX:IDT) enters manufacturing agreement with Monash University
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Australia-based pharmaceutical manufacturing Company IDT Australia Limited (ASX:IDT) shared via an announcement on Wednesday, that the Company has entered into a Master Service Agreement and accompanying Services Order with Monash University.
The Company informed that the Agreement is for IDT to provide cGMP manufacturing services to produce drug products for MIPS' mRNA COVID-19 receptor binding domain vaccine clinical trial.
The announcement also revealed that the Australian Government Department of Health has approved IDT's use of its sterile manufacturing facilities under the Sterile Readiness Agreement.
The Company stated that MIPS' mRNA COVID-19 receptor binding domain vaccine would be Australia's first locally developed COVID-19 mRNA vaccine candidate to advance to a clinical trial.
Under the Agreement's provisions, Monash will supply to IDT the bulk raw materials.
IDT stock was up 2.521% at AU$0.610 per share at 12:50 PM AEDT.
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13th Oct 12:55 PM AEDT
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13th Oct 12:22 PM AEDT
Why are HSC Technology (ASX:HSC) shares trading strong on ASX today
HSC Technology Group Ltd (ASX:HSC) announced on Wednesday that it has been awarded a contract to supply next generation assistive technology solutions to Australian Unity for the upgrade and refurbishment of its aged care facility located at 114 Albert Rd, South Melbourne, Victoria.
HSC has been appointed by the project manager Hutchinson Builders to deliver the HSC solutions for 71 assisted living apartments and 84 residential aged care apartments.
The scope of the HSC engagement includes:
HSC Smart Care Facility System – including the Care@Home Nurse Call, wearable pendants, motion sensors, falls radar and the Sleepsense sleep monitoring solution.
TALIUS Track – a real-time location system which provides data for ensuring the wellbeing of residents and compliance reporting.
HSC Resident Engagement System – including a digital concierge capability, telehealth functionality, and access to social media and subscription TV.
HSC Laundry Garment Management System – a comprehensive solution for monitoring and management of laundry items, to ensure all garments are accurately tracked.
Meanwhile, the stock HSC was spotted trading 3.125% higher at AU$0.016 per share at 10:00 PM AEDT on the ASX
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13th Oct 12:20 PM AEDT
ASX trades flat in volatile trade; Bank of Queensland, Rio Tinto lead fall
The Australian shares edged higher in choppy trade by afternoon, led by gains in tech and realty stocks. The market sentiment was dented after Prime Minister Scott Morrison-led government slashed its economic outlook for the September quarter. The gross domestic product (GDP) is now expected to drop by 3 % or more in 2021, up from previous guidance of 2% or more. Treasurer Josh Frydenberg made this comment after the International Monetary Fund overnight lowered its Australian growth forecast for this year to 3.5%, from 5.3 per cent projected earlier. The global lending agency, however, economy to rebound strongly in 2022 following ease in COVID-19 curbs and reopening of economy.
The benchmark index,?the ASX 200,?was trading 4.10 points higher at 7,284.80, by lunch.?The index opened?in positive terrain today, but soon slipped into red in absence of any major cues.
On the sectoral front,?eight of?11 sectoral indices were trading in?positive?terrain. The tech sector was the?best performer with 1.1% gain, undermining muted cues from US counterpart, NASDAQ. The tech sector was followed by?A-REIT, which gained 0.9%. Among others, consumer discretionary, consumer staples, energy and telecom sectors?also saw surge in?buying activity.?
Bucking the trend, financial sector was the worst performer with a 0.5% loss. Material and health care sectors also traded lower by mid-session.
The top gainer on the ASX pack was infant formula player A2 Milk Company (ASX: A2M), which rose 8%. Some of the other notable gainers were automobiles and components business GUD Holdings (ASX:GUD), agro chemical company Nufarm (ASX:NUF), gambling business Star Entertainment Group (ASX:SGR), and corporate bookmaker PointsBet Holdings (ASX: PBH).
On the losing side, Aussie retail bank Bank of Queensland (ASX:BOQ) topped the losers’ chart by falling 3.3%. Some of the other top laggards were diversified financials group Janus Henderson (ASX:JHG), blue chip miner Rio Tinto (ASX:RIO), industrial chemicals manufacturer Incitec Pivot (ASX:IPL) and miner Mineral Resources (ASX:MIN).
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13th Oct 12:15 PM AEDT
Audeara (ASX:AUA) partners with Oaktree in US, shares gain on ASX
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The share price of consumer durables firm Audeara Limited (ASX:AUA) was quoted 4% up at AU$0.130 per share at 12:00 PM AEDT today as the Company announced it has partnered with Oaktree Products Inc, located in the United States (U.S.).
Oaktree will immediately offer Audeara’s products to thousands of hearing professionals across the U.S.
Oaktree Products is a known multi-line distributor of products and clinical supplies to the U.S. hearing industry. Oaktree provides over 4,200 products and solutions to the hearing professionals.
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13th Oct 12:03 PM AEDT
Why is Houston We Have (ASX:HWH) in news today
Predictive analytics and Artificial Intelligence company Houston We Have (ASX:HWH) announced on 13 October 2021 that it has received approval to commence the maiden clinical trial of ECHOiQ’s artificial intelligence (AI) based Enhanced Screening Program (ESP) at St Vincent’s Clinic, Sydney.
Highlights
- The pioneering study will be conducted in partnership with the National Echo Database of Australia (NEDA) – one of the largest sources of patient data of its type in the world.
- Clinical trial will confirm the performance of ECHOiQ’s artificial intelligence (AI) based Enhanced Screening Program (ESP) in detecting ‘at-risk’ patients for the severe aortic stenosis (AS) phenotype – a leading form of heart disease.
- The clinical trial will be conducted with clearly defined protocols, including primary and secondary objectives and will be a retrospective observational evaluation study.
- Trial will start in October 2021 with anticipated conclusion in Q1 2022.
Meanwhile, the stock of the Company HWH was spotted trading 3.031% down at AU$0.160 per share at 11:45 AM AEDT on the ASX.
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13th Oct 12:02 PM AEDT
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13th Oct 11:43 AM AEDT
ASX 200 opens lower; FMG, RIO, BHP weighed by falling iron ore prices
The Australian share market opened a bit lower on Wednesday, as all three major indices on Wall Street closed lower overnight. However, gains in domestic gold stocks were witnessed on the back of firm bullion prices. At the opening, the ASX 200 was trading 0.2% or 13.5 points lower at 7,267.2.
US shares whipsawed investors on Tuesday as they waited to see how businesses have performed on the start of earnings season, while rising bond yields translated to increasing bets on the monetary policy to be tightened soon to tackle inflationary pressures.
The S&P 500 was down 0.24% to end at 4,350.65 points, while the NASDAQ Composite lost 0.14% to 14,465.92. The Dow Jones Industrial Average ended the session 0.34% lower at 34,378.34.
The top ASX 200 contributors were G.U.D Holdings Limited (ASX:GUD) and The a2 Milk Company Limited (ASX:A2M), both gaining 6.49% and 6.2%, respectively. On the flip side, Bank of Queensland Limited (ASX:BOQ) and Janus Henderson Group CDI (ASX:JHG) were the biggest losers, shedding 3.8% and 1.88%, respectively.
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13th Oct 11:42 AM AEDT
NIB and ING Bank announce new distribution partnership
NIB Holdings Limited (ASX:NHF) announced a new distribution partnership?with ING Bank Australia Limited.
The partnership will allow Australians to purchase an ING Bank’s health insurance which will be underwritten by NHF.?
Why are BUB, SFR, TCL, PFP, NHF on investors radar today?
NHF has more than two million customers, and the partnership with ING Bank will give it access to ING Bank’s existing customer base to offer affordable health insurance.
The white-labeled partnership can contribute well to NHF’s long track record in the Health Insurance sector. The impact of the partnership is shown in NHF’s Australian Residents Health Insurance business FY22 net policyholder target range, which is set at 2–3%. This was disclosed in NHF’s FY21 results presentation earlier on 23 August 2021.
On ASX, NHF shares are trading a bit down at AU$6.730 per at 10:24 AM AEST.
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13th Oct 11:40 AM AEDT
Propel Funeral (ASX:PFP) reports record number of funerals in a quarter
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ASX-listed provider of funeral services Propel Funeral Partners Limited (ASX:PFP) revealed on Wednesday that its trading performance for the three months ended 30 September 2021 (Q1 FY22) was materially above the prior corresponding period (PCP), further demonstrating the Company’s operating and financial growth and resilience despite COVID-19 impacts.
The Company announced that in Q1 FY22, Propel –
- generated revenue growth of ~13% on the PCP;
- performed a record number of funerals in a quarter, with total funeral volume growth above 10% on the PCP, including comparable funeral volume growth above 5% on the PCP;
- experienced resilient Average Revenue Per Funeral2 in line with the PCP, notwithstanding the impacts of extended lock downs and strict funeral attendee limits in New South Wales, Victoria and New Zealand during the quarter;
- achieved an Operating EBITDA3 margin of ~28%; and
- maintained strong Cash Flow Conversion.
Why are BUB, SFR, TCL, PFP, NHF on investors radar today?
Meanwhile, today the stock PFP was spotted trading at AU$4.350 per share on ASX at 10:47 AM AEDT.
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13th Oct 11:40 AM AEDT
Transurban (ASX:TCL) completes Entitlement Offer, shares trade bullish on ASX
Transportation giant Transurban Group (ASX:TCL) shared today that it has successfully completed the Retail Bookbuild.
The Retail Entitlement Offer has raised gross proceeds of approximately AU$1,068 million via issuing around 82.1 million new securities at an issue price of AU$13.00 per new security. This represents the final stage of Transurban’s AU$3.97 billion entitlement offer announced on 20 September 2021.
Why are BUB, SFR, TCL, PFP, NHF on investors radar today?
As per the TCL release, Under the Retail Bookbuild, as many as 28.6 million new securities were offered. These were sold at a price of AU$13.30 per security, a AU$0.30 per security premium over the issue price of AU$13.00.
The settlement date for new securities is 15 October 2021. Allotment of these securities is likely to happen on 18 October 2021 and ASX trading would start on 19 October 2021.
TCL stock, meanwhile, was spotted trading a tad higher at AU$13.590 per share at 10:45 AM AEDT.
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13th Oct 10:53 AM AEDT
Bubs Australia (ASX:BUB) revenue nearly doubles at A$18.5M in 1Q FY22
Bubs Australia (ASX:BUB), producer of Infant Formula and children’s nutrition products, on 13 October 2021, submitted its Quarterly Activities Report for the first quarter, period ended 30 September 2021.
Why are BUB, SFR, TCL, PFP, NHF on investors radar today?
A known producer of Australian goat dairy products, Bubs shared that its total gross revenue nearly doubled at AU$18.5 million, up 96% over Q1 FY21 and up 45% QOQ.
As per the release, almost all major segments of the Company overcame the COVID-19 disruption and challenging macro environment and saw revenue growth.
Key highlights
- Bubs® Infant Formula gross revenue rose 124% pcp across all markets, and was up 64% QOQ.
- Adult Goat Milk Powder total gross revenue¹ increased 100% on prior year, and was up 61% QOQ.
- Bubs Australia remains the fastest growing Infant Formula manufacturer across Domestic Grocery and Pharmacy Retailers, with Bubs® Infant Formula scan sales up 35% in the last quarter pcp.
- Strong rebound in China-facing business with revenue up 156% on prior year and up 98% QOQ.
- International gross revenue increased 489% on prior year, and was up 35% QOQ.
- Global expansion strategy advances with established entities in NZ, China and USA.
- Positive quarterly cashflow and robust balance sheet with AU$28.3 million in cash reserves.
The stock BUB was spotted trading 16.666% strong at AU$0.420 per share at 10:30 AM AEST.
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13th Oct 10:48 AM AEDT
Sandfire (ASX:SFR) intends to sell stake in Adriatic Metals
Gold and base metals explorer Sandfire Resources Limited (ASX:SFR) has expressed its intention to sell its entire investment in Adriatic Metals Inc. It plans sell its investment via a secondary sale of up to 34.6 million CHESS depositary interests that represent ordinary shares.
Why are BUB, SFR, TCL, PFP, NHF on investors radar today?
The sale will be implemented at AU$2.80 per share, at a discount of around 15.9 per cent to Adriatic’s closing price on 12 October. It will see Sandfire receive about AU$97 million in gross proceeds.
The transaction will result into a placing to institutional investors through an accelerated bookbuild to be carried out by Canaccord Genuity, RBC Europe and Stifel Nicolaus Europe.
On ASX, SFR shares are trading a bit down at AU$5.380 per at 10:24 AM AEST.
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13th Oct 10:23 AM AEDT
ASX 200 to rise despite US shares ending lower
The Australian shares are expected to rebound on Wednesday despite all major indices on Wall Street slipping into the red overnight. According to the latest ASX futures, the ASX is likely to open the day 20 points or 0.3% higher after falling 0.25% to 7,280.7 points in the previous session.
The domestic shares are expected to rise, likely helped by gains in domestic gold stocks on the back of firm bullion prices.
A number of ASX-listed companies would be paying their latest dividends to shareholders on Wednesday. BlueScope Steel Ltd, News Corporation, and TPG Telecom Ltd are a few companies to pay dividends. In addition, Bank of Queensland will be announcing its financial results for FY2021.
On Wall Street, the Dow Jones was down 0.3%, the S&P 500 fell 0.2%, and the NASDAQ traded 0.1% lower.
Benchmark bond yields surged in anticipation of tighter monetary conditions amid expectations that central banks may rein in ultra-loose policies due to rising inflation concerns.
- Two-year US Treasury yields jumped to 0.3419%, a level last seen in March 2020.
- Benchmark 10-year yields retreated to 1.5751%, from 1.605% late on Friday.
The dollar index stayed at one-year highs and stood near a three-year peak against the yen.
- The dollar index rose 0.149%, and a stronger dollar nudged the euro down 0.27% to US$1.1526.
- The Japanese yen weakened 0.31% versus the greenback to 113.62 per dollar.