Australian share in the limelight: Macquarie Telecom, Praemium, and Michael Hill

Summary

  • Macquarie Telecom, Praemium, and Michael Hill have been under the spotlight, delivering double-digit growth in the last few days.
  • Macquarie Telecom filed a State Significant Development Application to construct a new data centre.
  • Praemium reported record results for June 2021 quarter, hitting significant milestones during the period.
  • Michael Hill International continued its impressive financial and operational performance, reporting a record increase of 51.1% in FY21 digital sales.

ASX-listed player Macquarie Telecom, Praemium, and Michael Hill International have been in the limelight on the back of impressive double-digit returns in the past week, driven by favourable announcements.

Macquarie Telecom Group updated on the construction of a new data centre at the Macquarie Park Data Centre Campus. On the other hand, Praemium and Michael Hill International provided a trading update for the June quarter and full year, respectively.

Macquarie Telecom, Praemium, and Michael Hill – the hi-fliers this past week (Copyright © 2021 Kalkine Media)

INTERESTING READ: Bloom or doom? Here’s how ASX debutants Resource Base, Aerison, and others performed last week

This article would walk you through these updates in detail.

Macquarie Telecom Group Limited (ASX:MAQ)

Macquarie Telecom Group Limited, the data centre, cloud, cybersecurity, and telecom company, delivered a return of ~21% in the past five days. On 19 July 2021, MAQ shares settled at AU$66.400, down 1.132% from the previous close.

                       

The Stocks in Action || How Is ASX Performing After US Stocks Skid As Virus Fears Shake Markets?

 

On 14 July 2021, the Company filed a State Significant Development Application to construct a new data centre at the Macquarie Park Data Centre Campus. The new data centre would be within the Sydney North Zone and would be known by IC3 Super West. It would be the largest within the campus and would be adding 32MW of IT load. With this, the total campus IT Load would reach 50MW over time.

The Company aims to complete the construction of Phase 1 of IC3 Super West in 2H CY2023. This new data centre was planned to keep in mind the business, govt, and wholesale markets. Further, it would increase the state’s cybersecurity infrastructure as well as abilities.

At present, Macquarie Data Centres are getting the required planning approvals. The Company expects that it would get the approval in early 2022.

INTERESTING READ: Which were the hottest ASX-listed telecom shares in FY2021?

Praemium Limited  (ASX:PPS)

Praemium Limited, a global leader in providing technology platforms for managed accounts, investment administration, and financial planning, reported a growth of 18.75% in its shares price in the past five days. On 19 July 2021, PPS shares settled at AU$1.140, down 4.202% from the previous close.

On 14 July 2021, PPS reported record results for June 2021 quarter with significant milestones achieved. During the quarter, the Company noted quarterly record inflows of AU$1.2 billion, total funds under administration (FUA) of AU$41.7 billion, and record FUA across Australian as well as international investment platforms.

ALSO READ: Two Australian Shares That Made Investors Happy This Week - CPV, PPS

The Company also announced that it had completed the strategic review of its international operations, which advised divestment of the business via a formal sale process. The Company confirmed that the board met and is in favour of this recommendation. The divestment would let PPS concentrate its financial and leadership resources on fast-tracking its growth path in the Australian platform market for the advantage of its stockholders.

Michael Hill International Limited (ASX:MHJ)

Jewellery retailer Michael Hill International Limited reported a jump of 12.04% in the past five days. On 19 July 2021, the shares settled at AU$0.930, up 2.197% from the previous close.

On 15 July 2021, the Company released its trading update for the year ended 27 June 2021. The Company reported constant growth in quarterly same store sales. In June 2021 quarter, the same store sales increased by 7.5% compared to the previous corresponding period (pcp). Same store sales for the year increased by 8.6% against the prior year, and up 10% compared to FY2019. Despite 10,447 lost store trading days, all the store sales grew by 13.5% for the year.

Full-year digital sales were up 51.1%. Also, it was for the first time the Company reported digital sales over AU$30 million.

During Q4 FY2021, the Company opened a new store. At the same time, four under-performing stores were permanently closed.

ALSO READ: Michael Hill (ASX:MHJ) shares light up on rosy trading update

Comment


Disclaimer

Ad

GET A FREE STOCK REPORT


Top Penny Picks under 20 Cents to Fit Your Pocket! Get Exclusive Report on Penny Stocks For FREE Now.


   
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. OK