CXL, ADH, PBH: How these 3 ASX small-cap stocks are faring in 2023 - Kalkine Media

May 10, 2023 03:51 PM AEST | By Neha Simpy
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Highlights:

  • In the quarterly newsletter of April 2023, Calix Limited (ASX: CXL) outlined many new opportunities and updates for their Leilac business.
  • In 1H FY23, Adairs Limited (ASX: ADH) total sales rose above 34.1% to AU$324.2 million versus pcp.
  • In its March quarter report, PointsBet Holdings Limited (ASX: PBH) total group net win grew 39% to AU$106.6 million.

The Australian benchmark index S&P/ASX200 tumbled by 0.23% to 7,247.20 points on Wednesday, 10 May 2023, 3:52 pm AEST. Simultaneously, Calix Limited (ASX: CXL), was trading up by 2.783%. However, Adairs Limited (ASX: ADH) and Pointsbet Holdings Limited (ASX: PBH) fell by 0.442% and 0.138%, respectively.

Let’s now check how the 3 ASX small-cap stocks-CXL, ADH and PBH are faring this year.

Calix Limited (ASX: CXL)

An environmental technology company increased 2.783% and was trading at AU$4.985 on Wednesday, at 3:52 pm AEST.

In its quarterly newsletter of April 2023, the company outlined many new opportunities and updates for their Leilac business, with an MOU outlining a development with Bill Gates-backed Heirloom for DAC, progress their UK low emissions lime project with Tarmac (a grant announced by the UK government).

With the commencement of this year, CXL’s Advanced Batteries line of business has continued to progress the development of its cathode active materials throughout several fronts. In the UK, AMTE Power is presently testing CXL’s LMO cathode materials in a commercial format, utilising 3.5Ah multi-layer pouch cells.

Adairs Limited (ASX: ADH)

The retailer of homewares, furniture and home furnishings via offline and online stores were trading down by 0.442% at AU$2.250 on Wednesday, at 3:52 pm AEST.

In its 1H FY23 results ended 25 December last year, ADH’s total sales rose above 34.1% to AU$324.2 million versus pcp, showing a 100% trading store network (31% of trading days lost because of COVID-19 closures in pcp).

NPAT grew by 23.8% to AU$21.8 million, while statutory basic EPS got a boost of more than 22.2% to 12.7 cents on pcp. For the half-year period, ADH announced a 100% franked distribution of 8 cps, which was paid on 6 April this year.  

The first week of 2H FY23 experienced record Boxing Day sales for Adairs and Focus brands. Mocka sales for the first seven weeks were in accordance with expectations, with margins 570bps more than the pcp and 280 bps above 1H FY23. Productivity at the NDC has been better across the five weeks prior to 20 February, giving better cost and consumer outcomes.

PointsBet Holdings Limited (ASX: PBH)

The provider of sports, racing and iGaming betting products and services decreased by 0.138% at AU$1.797 on Wednesday, at 3:52 pm AEST.

In its quarterly report ended 31 March this year, the total group net win grew 39% to AU$106.6 million. There were 555,125 global cash active clients for the twelve months to 31 March. Ohio Launch on 1 January this year brought PBH live in 14 US states serving 35% of the US adult population. The cost and efficiency review of their North American operational workforce led towards a 12% slash in headcount, anticipated and annualised savings of AU$6 million.

In response to media speculation in December last year, PBH mentioned that it was in discussions concerning a potential transaction involving the sale of its Australian business.


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