The Share Price Of SLC Hiked After Annual General Meeting

  • Nov 26, 2018 AEDT
  • Team Kalkine
The Share Price Of SLC Hiked After Annual General Meeting

An annual general meeting of Superloop Limited (ASX: SLC) was held on 25 October 2018, where the chairman welcomes it shareholders and addresses about the number of changes which the company has come across since the last annual general meeting. The agenda of the meeting was also to share certain recent updates about the company as well as the operations of the company. By the end of the meeting, a further update was provided about the FY2018 financial performance and the strategy of the company.

The meeting begins where it highlights that a company named BigAir Group Limited was acquired by the Superloop Limited two years back. The CEO of BigAir Vivian Stewart has now joined as the board of directors of the company and is also working as an independent Non-executive Director.  Jason who is the executive director of the company is working very hard with the Superloop team and Bevan to integrate the two businesses has resigned from the board of members and he continued as the consultant to the company.

The position of executive director, corporate sales was taken up by Matt Hollis. Louise Bolger who is the director of the company since 2015 is also playing the role of General Counsel. The founder of the company Bevan Slattery will continue to lead the company as a CEO for the upcoming 2 years. He will also play the role of an executive director who will be responsible for transactions related to the acquisitions, partnership, and other important transactions.

Further to this AGM, Drew Kelton will be the CEO and the managing director of the company.

The financial and operational highlights were presented before the shareholders. Regarding revenue and profit growth, SLC is considered as the fastest growing technology company in Australia according to the Deloitte Fast 50 2018 Award. The revenue of the company increased by 109.3% which is equivalent to $125.2 million. The underlying EBITDA of the company is $30.6 million. The company continued to expand its network in metropolitan and the international capacity in Hong Kong and the USA. Another new update from the company was that it has stated the construction of construction of Superloop’s new “Red” Australian national backbone which was announced earlier. Further to this, the company worked to increase the network, technology and product coverage.

Through various segments of the company, the company generated revenues. These were connectivity, services, and broadband. The other source of revenue generation was through services like cloud, security, voice, managed the network, and professional services. Worth $36.6 million. Another $26.6 million was generated through the broadband connections to home, business as well as Wi-Fi. There was an increase in the total strategic sites by 16.9% and total optic fiber by the end of 30 June 2018 by 9.2% which is equivalent to 671km.

The company caters to networks only in the Asia-Pacific regions. There is technological upgradation which is going on to expand the bandwidth of the growth.

After the AGM, the share price of the company hiked by 2.959% since morning. It is currently trading at A$1.74 (AEST: 2:23 pm, 26 November 2018) with the market capitalization of A$386.33 million and PE ratio of 52.98x.


This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.




All pictures are copyright to their respective owner(s) does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.


There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

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