Pureprofile leads the quarterly assault with shares surging 340pc
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Amid the barrage of quarterly reports today, online marketing firm Pureprofile (ASX:PPL) caught investors’ attention, which saw its shares surge more than 340 per cent.
The company reported a 500 per cent improvement in net cash from operating activities to $1.5m, from $301,000 previously.
Pureprofile credited various factors including employees sacrificing pay and working hours but noting it had received money from the JobKeeper allowance.
After beginning July at 0.6c, Pureprofile rose as high as 7.5c in intraday trade — a 341 per cent gain compared to yesterday. The catalyst for growth earlier in the month was the appointment of a new CEO, announced a fortnight ago.
Microcap stock Cycliq (ASX:CYQ), which makes bike dash-cams, doubled in early trade after reporting it has reached operating cash flow positive status.
The company also reported strong pre-order demand for its latest product and noted that as governments sought to discourage public transport due to health risks, cycling could be a solution.
Thorn Group (ASX:TGA), which offers financial services and runs the franchise Radio Rentals, also impressed investors, rising 57 per cent.
The company reported a positive cash flow of $45.5m from operations. Even after the repayment of $21.3m in debt, the company’s cash balance still rose substantially to $71.8m.
Thorn Group plans to move its Radio Rentals business to a purely online model following a successful launch yesterday.
Property valuation firm Acumentis (ASX:ACU) was another winner, climbing 25 per cent. The company announced it averaged $3.7m in revenue a month across the quarter.
Acumentis said it expected to see the good times continue, noting property debt refinancing was on the rise. The expectation of record low interest rates persisting for the foreseeable future will help too.
HR tech stock Xref (ASX:XF1) released its own cash flow report and has jumped 20 per cent.
In addition to its 4C release, the company announced a new $5m debt facility with Pure Asset Management.
Another stock combining its quarterly with good news was New South Wales and Queensland focused coal company Australian Pacific Coal (ASX:AQC).
The company updated shareholders on its appeal against last years’ decision not to grant it a five-year extension for its Dartbrook project. A conciliation conference has been set down for August 11.
Shares in the company more than tripled.
At Stockhead we tell it like it is. While Xref is a Stockhead advertiser, it did not sponsor this article.