Pro-Pac Packaging (ASX:PPG) was this morning’s biggest gainer among stocks releasing half-yearly reports.

Last year it unveiled a $144 million loss due to a one-off good will impairment. But this year it reported a $7.6 million profit on revenue of $251 million.

It also was able to pay down over $6 million in debt due to earnings growth.

Managing director Tim Welsh credited the results to operational discipline and efficiency extraction. The company had shifted its business mix towards higher margin products in recent months.

“Pro-Pac Packaging will continue to focus on driving growth through operational excellence and by leveraging our local manufacturing capacities,” he said.

“These actions will form the foundations for us to build the group into a leading manufacturer and distributor of packaging products.”

The company said it expected improved full year earnings compared to the previous year subject to macroeconomic conditions and potential coronavirus supply chain disruptions.

Shares had stagnated in recent months but gained over 20 per cent this morning.


In other ASX small cap half yearlies today…

It’s been a tough few months for small business focused lender Prospa (ASX:PGL) but shares bounced 10 per cent this morning with its announcement. It originated $306.8 million in loans – 37 per cent more than the prior corresponding period. It’s revenue was $75.6 million and earnings were $4.3 million.

E-classified site owner Frontier Digital Ventures (ASX:FDV) unveiled a 75 per cent increase in its portfolio revenue to $72.5 million compared with 2018. While only 4 of its companies recorded positive earnings the company was boosted by the sale of one of its sites, Vietnamese property focused Propzy which netted a 300 per cent return in under 3 years.

Ariel mapping firm Aerometrex (ASX:AMX) reported 44 per cent growth in its revenue to $10.1 million and earnings growth of 64.5 per cent to $2.2 million. Its best performing product was LiDAR – airborne laser scanners which classify 3D points. The results are the first since it listed in December and managing director Mark Deuter said again this morning an exciting journey awaited.