Half-time ASX small cap wrap: investors icy on last of half year reports
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Half yearly reports continue to dominate the ASX announcements today, but have done little to excite investors.
The ASX Small Ords was trading down 6.7 points at 2755.7.
Here are the gainers and losers at 12pm AEDT:
In the green
Loyalty point platform Rewardle (ASX:RXH) was up 46 per cent at 2.2c despite no news in the market.
Its half-yearly released earlier this week reported revenues of $815,000 but a loss of $1.9 million.
But the company said it was continuing to invest in enhancing the capability of its platform and was continuing to test its “universal point” currency.
Cancer drug developer Patrys (ASX:PAB) today released evidence to prove its brain tumour treatment can cross the blood-brain barrier and reduce the size of the growth.
News sent the stock soaring as much as 50 per cent before settling up 45 per cent at 3.2c.
EHR Resources (ASX:EHX) went for a run on no news, shooting up 38 per cent to 12c.
The company has a 25 per cent interest in a Peruvian gold and silver project and satisfied its minimum spend condition in the last quarter.
GWR Group (ASX:GWR) was similarly up on no news, at a 37 per cent premium at 11c.
Its most recent quarterly told shareholders it had a strong balance sheet with $5.1 million in cash and no debt, with optimism in its tungsten project due to increasing global prices of the commodity.
Inclusion in an exclusive blockchain club has shot 8Common (ASX:8CO) shares up 20 per cent to 6.6c.
The $5 million market cap company told the market it was joining tech giants the likes of IBM and Intel as well as Wells Fargo and the London Stock Exchange in the Hyperledger Consortium.
Hyperledger is a not-for-profit organisation exploring how blockchain technology may further benefit its businesses, and 8common says its enterprise platform is the perfect fit.
In the red
Investors in XTD Limited (ASX:XTD) have taken a 26 per cent hit today, in the fallout of the company’s most recent results.
Revenues were reportedly down 8 per cent and the company was operating at a $1.1 million loss.
In the half XTD lost a CEO and instigated a strategic review of operations but it said a “bounce” was on its way with digital billboard growth expected for its railway advertising and XTrackTV offerings.
The stock was trading at 3c.
Opium grower and drug developer TPI Enterprises (ASX:TPE) was trading down 23 per cent to $1.50.
Its half-yearly report released today showed a 110 per cent increase in revenues, but an increased loss of $16 million.
The board said its expectations for positive earnings for the previous half were not met due to imported Poppy Straw supply interruptions, unfavourable foreign exchange rates and softer-than-expected sales of its codeine in the UK.
Jayex Healthcare (ASX:JHL) continues a downwards slide, trading down 21 per cent at 1.5c at midday.
The company reported a 14 per cent decrease in revenues for the half year, in what it said was a challenging year.
“The company faced on-going difficulties with the integration of the Appointuit product into the other Group technologies, which resulted in the operational and financial results falling behind expectations in the Australian operations.”
Investment advice provider Prime Financial Group (ASX:PFG) was down 15 per cent to 14c.
Today’s results showed a $1.8 million loss, impacted by $2.3 million of impairment losses and a $800,000 loss on the disposal of one of its investments.
Drilling services and equipment provider Boart Longyear (ASX:BLY) was down 13 per cent to 1.3c.
It reported its recapitalisation process was complete and it closed the calendar year with revenues up 15 per cent.