Market Update: Market Performance on 25 February 2020

3 min read | February 25, 2020 09:12 PM AEDT | By Team Kalkine Media

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Market Update: Market Performance on 25 February 2020

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Australian equity market was in red at the close of trading session on 25^th February 2020. The benchmark index S&P/ASX200 settled at 6866.6 with a fall of 111.7 points or 1.6%. All Ordinaries closed at 6953.8, reflecting a decline of 1.6%. Most of sectors on ASX declined during the session including S&P/ASX 200 Health Care (Sector), which experienced a fall of 379.8 points and stood at 46,124.3, and S&P/ASX 200 Materials (Sector), which ended the day at 13,362.1 with a drop of 2.19%.

Let us now look at the performance of some companies, which ended the session in green. Appen Limited (ASX: APX) stood at $25.400 per share, up by 6.499% and PolyNovo Limited (ASX: PNV) settled with a rise of 4.861% at $3.020.

Turning towards gainers and losers at NZX Main Board, Blackwell Global Holdings Limited (NZX: BGI) mounted up by 16.67% and closed at NZ$0.007. NZME Limited (NZX: NZM) experienced a rise of 6.06% and settled the trading session at NZ$0.350. Coming to the decliners, PaySauce Limited (NZX: PYS) plunged by 10.53% and ended the day at NZ$0.510.

We have written an article on two industrial stocks - Reliance Worldwide Corporation (ASX:RWC) and ALS Limited (ASX:ALQ). To read, please click here.

Appen Limited reported another period of robust earnings growth

Appen Limited (ASX:APX) has released its results for full-year 2019, wherein it reported revenue of $536.0 million with a robust growth of 47%. In the same time span, underlying EBITDA and NPAT of the company stood at $101.0 million and $64.7 million, reflecting a rise of 42% and 32%, respectively. These results were supported by strong organic growth.

Figure Eight has rebounded to high growth with ARR of $33.7 million, lifting it to a CAGR of 56% following a soft second quarter. Moreover, the integration of Figure Eight and Appen has been started with major components and are likely to be completed by the end of 2020.

The Board declared an interim dividend amounting to 5.0 cents per share, franked to 50%.

For FY20, the company is expecting underlying EBITDA for the year ending on 31^st December 2020 to be in the range of $125 million to $130 million. APX is focused on expanding its customer base over the next few years and is expected to make significant investments in sales and marketing in 2020.

PolyNovo Limited ended the session in green on 25^th February 2020

PolyNovo Limited (ASX:PNV) is due to release half year results for FY2020 on 26^th February 2020.

In another update, the company announced that NovoSorb BTM has been applied to the first two patients in the UK, with one patient treated for Necrotising Fasciitis and second one treated for a scalp defect. Moreover, it has appointed two additional sales staff for the UK and Ireland.

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