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Highlights:
- Share price of AJ Lucas surged by over 14% on ASX today (06 September 2022).
- In last one year, the share price has escalated by more than 416%.
- Due to the challenging environment in FY22, the company posted a significant fall in EBITDA in FY22.
Share price of AJ Lucas Group Limited (ASX:AJL) has been registering significant gains over the past many months. In a month, AJ Lucas’s share price has shot up by 72.22%. In the last six months, the share price has recorded a gain of 210%. The yearly gain is 416.67%, and on a year-to-date basis, it has marked a rise of 287.50% (as of 11:25 AM AEST).
Since today’s (6 September 2022) morning, AJ Lucas shares have been heading north. At 11:34 AM AEST, the shares were spotted trading at AU$0.16 per share, 14.81% higher from the previous close.
Why is AJ Lucas’s share price heading north today?
AJ Lucas has not shared any price sensitive news today that could drive the share prices up by 14%. Also, the company is not following its benchmark index, ASX 200 Industrials (INDEXASX:XNJ). At 12:09 PM AEST, XNJ was down by 0.026% to 6,442.70 points.
It seems like AJ Lucas has been outperforming the benchmark index for the past many months. On a year-to-date basis, the index has fallen by 4.31%, whereas AJ Lucas’s share price has recorded a gain of a whopping 287%.
AJ Lucas 2022 full year results
AJ Lucas delivered AU$18 million of EBITDA in the financial year 2022 (FY22), down 31.9% from the previous year. Revenue during the year was AU$123.2 million, up from AU$111.1 million in FY21. Cash flow from operating activities was reduced by AU$0.7 million to AU$12.6 million.
AJ Lucas informed the market that FY22 was impacted by the shutdown at the customer site, client operational delays and major weather events. The challenges were also presented by the Covid-19 driven pandemic that resulted in supply chain related issues and labour shortages.
Last year, the company reported a profit of AU$3.4 million, which had fallen to a loss of AU$11.3 million this year.
Outlook for FY23
Brett Tredinnick, CEO, AJ Lucas, highlighted that majority of the group’s earnings would be generated from the metallurgical coal mining sector.
He added:
About AJ Lucas
Capital goods company AJ Lucas provides drilling services to resources and energy sectors. The group is primarily focused on offering a suite of exploration and degasification drilling and related services to metallurgical coal mines across Australia.
