Half Yearlies Top 5: Ambertech, Universal Store and Life360 lead charge with +50pc gains
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Stockhead has recapped the Top 5 half-yearly results released this morning with the biggest winner being Ambertech (ASX:AMO) which rose over 50 per cent this morning.
ASX-listed companies are required to lodge half-yearly results within two months after the end of the first half of their financial year, and for most ASX companies that is the end of this month.
This company, which makes equipment used in production support for the film/tv broadcast and audio industries, was up 52 per cent at 11am (AEDT) – the same amount it grew its revenues by.
It made $38.9 million in revenue, a $3.2 million pre-tax profit and opted to pay a 1.5 cent per share dividend.
All segments performed well but the best was its Integrated Solutions segment which has never looked back since Ambertech bought the Hills Audio Visual products.
The company said this helped it achieve economies of scale – leveraging infrastructure it had built up over several years prior to to the purchase.
The parking tech company saw lower revenues compared to the prior corresponding period thanks to COVID-19 but was able to make a net profit of $6 million.
It grew its total sites to 576 and its parking breach notices by 40 per cent.
The company also reiterated it would benefit from a long running VAT dispute with the British government which would see a refund of $2.9 million paid soon and a total write back of $6.9 million.
Another update from the British government it was looking forward to was its progress on its vaccination program – noting it would allow restrictions to be eased and encourage people to be back on the roads.
Cardno provides infrastructure and environmental services to varying clients that it notes have seen differing impacts from COVID-19.
The company’s results were mixed, with a 10.9 per cent drop in gross revenue but 31 per cent down in its underlying net operating profit after tax.
Cardno told shareholders it would resume dividends, beginning with a 1.5 cent per share pay out this time.
The San Francisco tech company is still underwater from its May 2019 IPO but has reached highs not seen since then.
Revenues grew by 39 per cent to US$81.6 million and while it still made a net loss of US$16.3 million, this was a 44 per cent year on year improvement.
While its user growth was modest, it saw increased revenues per customer as it launched its new membership model.
The company also noted it had received “inbound interest” which could eventuate into an acquisition, a merger with a larger entity on a US exchange. It said had formally launched a review – but there was no certainty a transaction would eventuate.
For the fashion outlet it was the first set of results since listing last November.
Sales grew 23.3 per cent to $118 million and its net profit grew 48 per cent to $15.8 million – coming despite its Melbourne stores being closed between August and October.
The company said the last six months of trading were a record and now 12 per cent of its sales were online (up from 6 per cent 12 months ago). Furthermore, this had continued into 2021 with sales so far this year up 23.5 per cent compared to the first 7 weeks of 2020.
Universal Store made the move of deciding to repay the $3 million in JobKeeper it received but said it had been important in enabling the company to support their employees as well as to have confidence to plan and stand them back up.