Cannabis quarterlies impressed investors
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There was once again a wide variety of companies making up the biggest winners among companies releasing quarterlies today.
As the quarterlies season deadline approaches and the ASX market announcements page becomes increasingly flooded with lodgements, Stockhead will sort through the best performers so you don’t have to.
The last day for companies to submit reports is the last business day of the first month after the prior quarter. In other words, this Friday. And if they don’t, they risk suspension and consequential panic and anger from shareholders.
Emyria is a drug developer and clinical dataset operator specialising in cannabinoid medicines.
EMD’s achievements in the quarter included class IIa registration for its remote health monitoring smart phone app Openly with the TGA.
It also flagged positive results from a real world study conducted with IQVIA, which showed its care model led to reduction in opioid use among highly dependant opioid patients.
The micro investing app was up over 140% for the year prior today’s update, and it rose another 7% this morning.
The company recorded $3.6 million in total normalised revenue, 456,927 Global Active customers and $799.6 million in Funds Under Management – all of which were substantially higher than 12 months ago.
During the quarter the company completed a $10.4 million capital raising, and announced it was acquiring property investment platform Superestate.
The medicinal cannabis and industrial hemp business made $623,000 in customer receipts, a figure well up from $183,000 last quarter which was credited to its Murray Meds acquisition.
It booked a total of $800,000 in purchase orders, $510,000 of which will be collected this quarter and expects sales to reach $2 million by the end of this year.
Managing director Alex Keach said his company was in a strong position.
“We are now amongst an elite group of companies that hold numerous Office of Drug Control and TGA Manufacturing licenses. We have the highest medicinal cannabis cultivation capacity in Australia and the lowest production cost,” he said.
“We intend to leverage our production capacity and pharmaceutical expertise to capture a significant market share in Australia and Europe.”
The automotive dealer gave an update on its past two quarters – the 6 months to 30 June.
It is expecting an underlying operating profit before tax of $218.6 million, well up from the $40.3 million made in the prior corresponding period.
Eagers credited the rebound in the new car market from the initial onset of COVID-19 which rose 28.3% from the first six months of 2020.
The company said it continued to monitor the current lockdown situations.
The weighting technology firm increased its half yearly revenue to US$10.5 million-US$10.6 million which was up 35% from the US$7.8 million from the prior corresponding period.
“The results demonstrate our recovery from the impact of COVID-19 last calendar year and the resilience of our business in challenging conditions,” said CEO Arik Schor.
Shekel Brainweight is based in Israel and as a consequence it was unaffected by current lockdowns in Australia.
At Stockhead, we tell it like it is. While ECS Botanics is a Stockhead advertiser, it did not sponsor this article.
Health & Biotech
Health & Biotech
Health & Biotech
