CVC Limited Releases its Half Year Results for FY 2019

ASX listed diversified investment company, CVC Limited (ASX: CVC) has released an investor presentation in which it has discussed half-year results for FY 2019.

For the half-year period, the company reported revenue of $39.2 million and Underlying NPAT loss of $4.9 million. As per the company’s report, the half-year results were significantly impacted by the decrease in the value of ASX listed equities during the global market correction in the second quarter of FY 2019. For the half-year period, the company reported gross revaluation loss on unsold listed equities of $16.7 million, which in prior years would have normally been allocated to reserves until sold. In the third quarter of FY 2019, the company has witnessed a recovery of $8.5 million in the value of the ASX listed share portfolio.

In its report, the company has also informed about the establishment and launch of the unlisted CVC Emerging Companies Fund, in partnership with Evans and Partners, which is focused on investing in growth and expansion stage companies, targeting a $50 – $100 million capital raising during the second half of FY 2019;

As at 31 December 2018, the company had a Net Tangible Assets of $188.4 million including net cash of $30.3 million.

CVS creates value through active management of large strategic holdings that are identified as undervalued, counter-cyclical or underperforming. The company utilises a range of value creation tools including options, capital raisings and underwriting where available.

As per CVC’s outlook, the NPAT for FY 2019 will be dependent on the performance of the ASX listed segment in the second half. Further, the company is expecting to pay a total dividend of 15 cents per share for FY 2019. In FY 2019, the company is targeting to increase funds under management by a further $100 million, including the launch of a minimum of two new products. The company is having an expectation of at least one substantial new listed or unlisted investment with an investment amount exceeding $10 million. The company is also planning to explore partnership opportunities with existing fund managers where investment/balance sheet support can deliver growth outcomes for the manager. The company is expecting that the planning outcomes and progression of developments will increase the underlying net asset value of the company.

Now, let’s have a glance at the company’s stock performance and the return it has posted in the last few months. The stock is trading at a price of $2.530, down by 3.435% during the day’s trade with a market capitalisation of ~$312.91 million as on 15 March 2019. The counter opened the day at $2.600 and reached the day’s high of $2.620 and touched a day’s low of $2.530 with a daily volume of ~ 30,879. The stock has provided a year till date return of -0.38% & also posted returns of -6.43% and 0.77% over the past six months, three-months period respectively. It had a 52-week high price of $2.900 and touched 52 weeks low of $2.230, with an average volume of ~11,047.


Disclaimer

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.

Top 25 Dividend Stocks report for April

People prefer a dividend stock in their portfolio as it possesses the feature of compounding. Compounding means that the earning which is generated through these dividend stock will get reinvested and will eventually create earnings from earning. More precisely, the dividend generated from these dividend stock will get reinvested to buy another set of a share of the dividend stock which results in giving a higher dividend.

Click here to download your top 25 dividend stocks report!

6 Cannabis Stocks under Investor’s Limelight…

Cannabis companies that sell both medicinal weed and recreational pot. Marijuana stocks to look at. Marijuana mergers and acquisitions. Dispensary data analytics. Upcoming marijuana IPO’s Those phrases have become increasingly common as marijuana legalization spreads.

Global spending on legal cannabis is expected to grow 230% to $32 billion in 2020 as compared to $9.5 in 2017, according to Arcview Market Research and BDS Analytics. As of June 29, 2018 the United States Marijuana Index, despite a lot of uncertainty around regulations, has over the past 1 year gained 71.49%, as compared to about 12% gain seen by the S&P 500.

Click here for your FREE Report

LEAVE A REPLY

Please enter your comment!
Please enter your name here