ASX Quarterlies Roundup: Plenti’s loan portfolio grows to $1.44 billion, up 90pc on pcp
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It’s quarterlies season as the ASX market announcements page becomes increasingly flooded with lodgements. The last day for companies to submit reports is the last business day of the first month after the prior quarter. If they don’t, they risk suspension and consequential panic and anger from shareholders.
Here’s some of the reports which have caught our eye today.
Non-bank lender Plenti’s loan portfolio increased to $1.44 billion at June 30, 2022, which is 90% above previous corresponding period and 11% above prior quarter.
Plenti saw strong quarterly loan originations of $289 million, up 34% on pcp. Revenue was $30.5 million, along with continued positive cash NPAT in the quarter.
Loan yields increased across each lending vertical, as Plenti prioritised loan and business profitability over loan originations volumes.
“Plenti has delivered yet another strong quarter, driving substantial loan portfolio growth, further diversifying funding and continuing to deliver cash NPAT profitability,” Plenti CEO Daniel Foggo said.
Infant formula manufacturer Bubs Australia has been a beneficiary of the infant formula crisis gripping the US, so no surprise it’s just announced a record quarter.
Bubs announced it had recorded Q4 gross revenue of $48.1m, up 278% previous corresponding period (pcp) and up 174% QoQ, delivering the fourth consecutive quarter of growth on prior year. FY22 gross revenue was $104.2m, up 123% pcp and more than double last year.
Bubs said it had achieved sustained growth momentum across all key product segments (A2 Beta-Casein, Organic Grass-fed, and Easy-digest Goat infant formula), along with all key markets Australia, China, and the US.
Bubs won US FDA discretion for all six of its Bubs Infant Formula products for import with well over half a million tins delivered between May and July.
Clinical stage pharmaceutical company PharmAust has highlighted ethics/regulatory approvals for its human trial of its lead asset, monepantel (MPL) into motor neurone disease (MND) as the standout for its quarter ending June 30.
The Phase 1/2 trial has started with a funding commitment of almost $900k by FightMND, the largest independent funder of MND research in Australia.
During the quarter PAA received the first and second instalment payments from FightMND totalling ~$301k.
During the quarter, seven hospitals in five European countries showed interest in testing the effects of MPL upon Covid-19 patients. PharmAust will undertake a Phase 2 rather than Phase 1 study in Covid-19 patients.
The company has also had success with its canine cancer trials indicating the combination of MPL+prednisone more than doubles life expectancy of dogs compared with standard-of-care prednisone-only therapy.
It’s now in discussions with potential licensing partners for canine cancer.
As of June 30, PAA has ~$2.4 million in the bank which it says is sufficient to pursue various pre-clinical and clinical commitments.
Credit Clear has announced record quarterly revenue of $8.63 million in Q4 FY22, up 41% quarter-on-quarter (QoQ) and 160% on pcp.
Among other highlights were record monthly revenue of $3.12 million achieved in June and revenue run rate climbs to $37.44 m pa.
May and June were consecutive operationally profitable months for CCR, which achieved 60 new client wins for the quarter including several which are expected to be in the top 10 by revenue.
A significant increase in accounts in arrears are being referred to the company.
CCR says its sales pipeline has strengthened considerably during the quarter with its tech supported by hybrid end-to-end collections and legal recoveries resonating particularly well with materially significant potential clients.
CCR has reported a strong balance sheet including $10.2 million of cash in the bank.
At Stockhead, we tell it like it is. While Plenti Group, PharmAust and Credit Clear are Stockhead advertisers, they did not sponsor this article.