Quarterlies Top 5: Investors swoop on COG Financial, Secos and Booktopia after solid results
As the countdown continues to the next quarterly report filing deadline (this Friday, January 29), Stockhead recaps the best performers – the top one being COG Financial Services (ASX:COG).
COG Financial Services claims to be Australia’s largest asset finance broking and aggregation group.
The company’s results were actually for the most recent half year but investors were nonetheless impressed.
COG Financial’s post tax net profit was $10.1 million, up 140 per cent from the prior corresponding period. Of this, $5.9 million came from finance broking and aggregation as lending volumes surged – sparked by record low interest rates.
CEO Andrew Bennett said the result was “demonstrating that COG is a great business in normal times and an even better one in times of stress”.
Investors sent COG Financial shares up over 20 per cent this morning.
Secos sells products such as bin liners that are made of compostable plastics.
The company recorded sales of $7.9 million for the December quarter which was 34.2 per cent higher than the September quarter and 50.1 per cent higher than the December 2019 quarter.
Secos also said its balance sheet is strong with $14.3 million in cash and it expects to report a maiden profit when it releases its half yearly results.
Shares climbed by 16 per cent today and have more than tripled in 12 months.
The online book seller, which only listed late last year, said the Christmas season was the strongest in the company’s 16 year history.
It shipped 728,000 books in December alone and 4.2 million in the entire first half of FY21.
Compared with the first half of FY20, earnings were up 506 per cent from $1.3 million to $8 million and revenue were up 52 per ent from $74.5 million to $113 million.
“We are confident that the momentum and growth we experienced in 2020 should continue throughout the year and beyond and as a result the business is on track to meet forecasts provided in the company’s prospectus,” said CEO Tony Nash.
Booktopia shares rose by 12.5 per cent this morning. Having listed at $2.30, the stock is nearly up 30 per cent since its listing in early December.
The sports and hospitality focused software stock recorded its second straight quarter of positive operational cashflow – to the tune of $1.377 million.
While cash receipts were still below pre-COVID highs, it had a cash balance of $2.8 million and reported its recent acquisition of point of sale software company SwiftPOS was paying off.
During the quarter, SwiftPOS was earnings accretive and had grown its customer base by more than 300 per cent.
MSL shares climbed 8 per cent this morning.
The expense management software company, once known as BidEnergy and backed by James Baillieu, rounds out the list this morning.
In the December quarter it reported $13.6 million in annualised subscription revenue, up 52 per cent quarter.
It also reported being present on 358,100 metres (up 125 per cent from the last quarter) and notching up 208 clients (up 45 per cent).
Bill Identity shareholders have ensured a rollercoaster ride in the 12 months with varying ups and downs. But today shares rose a modest 7 per cent to $1.18 and consequently are up 10 per cent in 12 months.