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On 6 April 2020, the benchmark index S&P/ASX 200 advanced further by 4.33% or 219.3 points to close the day’s trade at 5,286.8. Almost every sector settled in the green zone, with few like energy, real estate, financial and health care sectors trading above 4% from their previous close.
Below discussed are few of the companies listed on ASX that also traded in green and performed well today.
Bigtincan Holdings Limited (ASX: BTH)
Bigtincan Holdings Limited (ASX: BTH), amongst the fastest growing B2B SaaS companies in the sales enablement industry, reported a significant growth in its share price on 6 April 2020. By the end of the trading session, its stock price went up by 15.957% and settled at $0.545. Around 2.36 million shares were traded on ASX against the average volume of approximately 2.09 million.
During mid-March 2020, the Company had provided an update on its operations, business and funding with respect to the changing COVID-19 situation.
Below are some key points by BTH-
- BTH is a global software company with employees across four continents. These employees have deep experience in operating in a remote environment.
- The Company has a solid & diverse enterprise customer base across various industries and locations.
- Balance sheet remains robust with zero debt and a closing cash balance of $27.1 million by 31 December 2019.
- Reaffirmed FY2020 guidance of 30% to 40% organic revenue growth with stable retention.
- Introduced coronavirus & working remotely awareness course to reflect the power of its mobile first solution, as the economy supports remote working.
Nearmap Ltd (ASX: NEA)
Nearmap Ltd (ASX: NEA), a provider of geospatial map technology, reported an increase of 13.364% in its share price from its previous close to settle the day’s trade at $1.230 on 6 April 2020. Around 6.31 million shares of the Company traded on ASX against the average volume of 7.42 million.
Recently on 1 April 2020, the Company extended support for local, state and county health officials as well as government agencies, making its high-resolution aerial imaging free of cost. The Company initiative will support these agencies and officials with COVID-19 relief effort planning.
Because of increasing coronavirus cases and implementation of social distancing measures, various government agencies had contacted NEA, as they were using the Company’s latest high-resolution aerial imagery for the identification of locations for temporary medical facilities, mobile testing centres and more.
With this free service, emergency response personnel would be able to access the latest library of high-resolution imagery, enabling them to cover cities as well as districts in their area. Thus, this detailed information would support in planning emergency response mobilisation centres and identifying how near facilities like medical clinics & hospitals are, while delivering visibility of the site for planning parking, line logistics, and many more.
Magellan Financial Group Limited (ASX: MFG)
Diversified financial company engaged in creating and safeguarding wealth for its investors, Magellan Financial Group Limited (ASX: MFG) reported growth of 12.773% in its share price from its previous close to close the day’s trade at $47.500, with around 976,289 shares traded on ASX.
On 6 April 2020, the Company provided details of total funds under management (FUM) as at 31 March 2020.
Total FUM stood at $93,991 million, which comprise of retail ($25,345 million) and institutional ($68,646 million). In March 2020, the total FUM declined by ~ 6.62% as compared to February 2020.
HUB24 Limited (ASX: HUB)
The stock of HUB24 Limited (ASX: HUB), a provider of investment and superannuation platform services, surged on ASX by 16.447% from its previous close and settled at $9.700, with around 626,581 shares traded.
On 6 April 2020, HUB24 provided an update related to its business with respect to the COVID-19 pandemic. The Company confirmed that its top priority is the health and safety of its team and at the same time, supporting its customers while continuing to run the business & meet the requirements of licensees, advisers as well as their clients.
Despite the adverse impact of COVID-19 on the equity market, the Company holds a solid financial position. It continues to operate profitably with cash reserves significantly higher than regulatory capital needs as well as generating strong operating cash flows.
Further, the Group has no debt. The Company is due to pay a dividend (interim) of 3.5 cps on 17 April 2020.
Happy Valley Nutrition Limited (ASX: HVM)
Incorporated in April 2016 and headquartered in New Zealand, Happy Valley Nutrition Limited (ASX:HVM) aims to become trusted leading B2B (business-to-business) supplier of premium consumer ready Infant Milk Formula and other nutritional milk products. On 6 April 2020, the HVM advanced further by 11.538% and settled at $0.145.
Same day, the Company provided a market update related to the proposed timeline for the development of its vertically integrated nutritional grade milk processing, blending & packaging plant in Waikato, New Zealand. As highlighted in the Company’s prospectus dated 22 November 2019, the facility, being designed to develop infant milk formula and other nutritional items, was expected to be operational by July 2022.
At present, New Zealand is in COVID-19 Alert Level 4. This means that other than essential services, the entire nation is in a lockdown state. In spite of this situation, the Company is making significant progress towards several critical milestones.
HVM also confirmed that there is no direct impact of COVID-19 on its timelines. However, its suppliers and potential offtake partners are impacted by COVID-19, which is resulting in delays and could also have an impact on achieving the expected project development timeline.
Considering the current situation, the Company has amended its timetable to continue working towards achieving an operations start date of July 2022; however, it has a revised plan for the commencement of operations by July 2023.
Origin Energy Limited (ASX: ORG)
The stock of Origin Energy Limited (ASX: ORG) settled at $4.950, up 3.992% or $0.190 from its previous close. Around 9.91 million shares of the Company traded on ASX.
On 6 April 2020, ORG provided its operational & financial update.
In response to the coronavirus pandemic, the Company has focused on safely maintaining energy supply as well as reassuring customers to aid those affected financially.
Origin Energy has decided not to disconnect any housing or small business clients who are experiencing any financial challenges until at least 31 July 2020. It also clarified that there would be no default listing for any consumer who is experiencing troubles in making payments. Also, late payment fees would be paused over the same time frame.
The Company has experienced no material impact on its supply operations, and the customers are also able to get reliable electricity, natural gas & LPG supply.
In the present scenario, most of the staff of Origin is operating from their homes while the only roles critical to maintaining energy supply are available at the site. Steps have been taken to shield people & operations and support efforts to lessen the virus spread.
Protocols have been examined and are updated as per the latest government advice.
Caltex Australia Limited (ASX: CTX)
New South Wales-based petroleum company Caltex Australia Limited (ASX: CTX) is engaged in activities such as refining, purchase, distribution and marketing. Additionally, the Company operates convenience stores.
On 6 April 2020, CTX stock inched upward by 6.565% to close at $24.510, with a market cap of $5.74 billion.
Same day, the Company referring to trading update on 23 March 2020 regarding the demand & other business impacts from responses to COVID-19 confirmed that CTX remains committed to taking necessary steps to protect the health of its people, protect its assets and market-leading position. The Company would also optimise cashflows while ensuring that it is positioned well to succeed & capture prospects when market conditions get better.
The Company, which has a solid funding position and balance sheet, introduced various operational & capital initiatives to protect the business and aid in navigating this difficult time. Meanwhile, it is focused on ensuring reliable supply of high-quality transport fuels to its customers and wellbeing of its staff.
