Latest Updates on Three ASX 200 Listed Companies- Monadelphous, PolyNovo, Premier Investments

  • September 27, 2020 08:00 AM AEST
  • Team Kalkine
Latest Updates on Three ASX 200 Listed Companies- Monadelphous, PolyNovo, Premier Investments

Summary

  • On 24 September 2020, Wall Street index rebounded with Nasdaq Composite up by 0.37% and Dow Industrials up 0.20%. The two indices moved further north the next day, by 2.26% and 1.34% respectively.
  • Benchmark index S&P/ASX 200 also surged on 25 September 2020. However, some of its participants settled in the red zone.
  • Monadelphous Group obtained construction and maintenance deals in the resources sector with a collective value is of circa A$120 million.
  • PolyNovo Limited appointed Innova Medical for the sale of NovoSorb® BTM in Finland.
  • Premier Investments reported NPAT growth of 29% for FY2020 of A$137.8 million.

By the end of the day’s trade on 25 September 2020, most indices listed on ASX settled in the green, except the health care sector where a marginal drop of 0.15% was seen. On 24 September 2020, Wall Street index rebounded and showed marginal improvement in their index value, which played a pivotal role to help the index surge on ASX. Benchmark index S&P/ASX 200 was up by 1.51% from its previous close and stood at 5,964.9. However, there were a few members of ASX 200 could not do well on ASX as their shares ended the trade session in the red zone.

In this article, we would be looking at three such stocks from the ASX 200 and see their latest updates and their performance.

Monadelphous Group Limited (ASX:MND)

Monadelphous Group Limited is a top Australian engineering group that provides resources, energy and infrastructure sectors with construction, maintenance, and industrial services.

On 14 September 2020, Monadelphous Group announced that it obtained construction & maintenance deals in the resources sector with a combined value of circa A$120 million.

The Company was awarded the below deal as per the WAIO Asset Panel Framework Agreement with BHP.

  1. Deal to deliver structural, mechanical & electrical enhancements at the Newman Hub location situated in the Pilbara, WA. The work would start soon and would likely to get accomplished by 2021 end.
  2. The contract is also linked to dewatering of surplus water at the Jimblebar mine site in WA.

Other than this deal, the Company has signed the Olympic Dam Asset Projects Framework Agreement with BHP under which Monadelphous would give multi-disciplinary construction services at the Olympic Dam copper mine in South Australia.

Lastly, MND’s Maintenance and Industrial Services segment has been given a deal to start a significant dragline shutdown for BHP Mitsubishi Alliance at its Saraji Mine in Queensland. The work will get completed by December 2020 end.

DO READ: Share price of ASX 200 listed Monadelphous Group buzzing post unveiling of FY20 results

Stock Performance:

By the end of the day’s trade on 25 September 2020, MND shares closed at A$10.300, down 4.007% from the previous. In the last six months, the shares have delivered a decent return of 9.81%. MND has a market cap of A$1.02 billion and around 94.64 million outstanding shares.

PolyNovo Limited (ASX:PNV)

PolyNovo Limited is an Australian-based medical device company that is into the business of designing, developing, and manufacturing dermal regeneration solutions via its patented NovoSorb® biodegradable polymer technology.

On 23 September 2020, PolyNovo declared the appointment of Innova Medical Oy for the sale of NovoSorb® BTM in Finland.

Innova Medical Oy provides a wide range of surgery, plastics, trauma, general and burns. It is already supplying several wound and second-degree burn products.

PolyNovo expects to announce its entry in the European market in the future.

GOOD READ: Medical Device Stocks and Portfolio Diversification - Lens on high-performers PNV, EMV, FPH

Stock Performance:

By the end of the day’s trade on 25 September 2020, PNV shares closed at A$2.160, down 1.37% from the previous. In the last six months, the shares have delivered an impressive return of 50%. PNV has a market cap of A$1.45 billion and around 661.09 million outstanding shares.

Premier Investments Limited (ASX:PMV)

Australian player Premier Investments Limited was established as an investment vehicle to boost growth in capital returns to shareholders via the acquisition of managing or strategic shareholdings in leading Australian companies, with the primary focus on retailing, importing, and distributing.

On 25 September 2020, Premier Investments Limited released its FY2020 results for the 52 weeks ended 25 July 2020.

Mr Solomon Lew, Chairman of Premier Investments, stated that during the COVID-19 crisis, the Company’s core priority was the safety and wellbeing of its teams and customers. The board expressed its gratitude towards the dedication and professionalism shown by the team during the challenging time.

FY2020 Performance Highlights:

  • In FY2020, the Company reported its NPAT for the full year of A$137.8 million, up 29% as compared to the previous corresponding period (pcp).
  • Premier Retail Underlying EBIT improved by 11.9% to A$187.2 million.
  • Premier Retail LFL sales improved by 7.6% (constant currency), and the total sales declined by 4.2% on pcp.
  • PMV delivered record Peter Alexander sales with a growth of 16.3% to A$288.2 million.
  • Online sales improved by 48.8% to A$220.4 million as compared to FY2019. It contributed 25.5% of 2HFY2020 total Premier Retail sales.

Cash Flow Highlights:

  • Net cash flows from operating activities which was A$138.814 million in FY2019 increased to A$483.582 million.
  • In FY2019, the Company used A$15.550 million in investing activities. However, in FY2020, there was a net cash inflow of A$6.646 million from investing activities.
  • Net cash outflow, which was A$112.483 million in FY2019 increased to A$230.594 million in FY2020.
  • Net cash and cash equivalent by the end of FY2020 was A$448.832 million.

Stock Performance:

By the end of the day’s trade on 25 September 2020, PMV shares closed at A$19.000, down 0.68% from the previous close. In the last six months, the shares have delivered an excellent return of ~85%. PMV has a market cap of A$3.04 billion and around 158.72 million outstanding shares.

 

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