Quarterlies Top 5: The property & resources booms are paying off
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Today’s quarterlies list was again dominated by companies benefiting from COVID-19 induced booms including in mining services and property.
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, tommorrow. And if they don’t, they risk suspension and consequential panic and anger from shareholders.
The drilling services provider is benefiting from the commodities boom, sparked by higher prices and many economies’ industrial production recovering from COVID-19.
The company made a 45% improvement in revenue across the last two quarters, from $309 million to $447 million and adjusted earnings going up 158% from $24 million to $62 million.
“The company has seen continued reinvestment in the sector with major mining houses confirming increased exploration spend and junior and intermediate miners accessing capital through equity raisings allowing them to explore for tommorrow’s resources,” it said.
Fluence is a water treatment company which has a focus on Asia and the US.
In the last quarter its revenues grew 49% to $27.2 million and its operating cash flows were $13 million in positive territory.
The company sold 15 MABR (membrane aerated biofilm reactor) plants during the quarter and 34 in the year to date.
While the majority of these were in China it sold a handful in the US as well as one in Cambodia and one in Israel.
Fluence chairman Richard Irving said the company was very pleased with the quarter’s results.
This regtech stock made revenues of $645,000 which was up 10% on the same quarter in FY20 and up 3% from the March quarter in FY21.
The company admitted COVID-19 had caused some difficulties, particularly in onboarding clients but still said the results were pleasing.
One of the company’s achievement in this quarter was completing its UBO Verify service for launch, which helps banks onboard new customers.
CV Check also made record revenues making $6.4 million during the quarter which was up 262% on the prior corresponding period.
Its annual recurring revenue came in at $13.3 million which was up from $11.1 million from 3 months ago.
The real estate agency firm topped the lot with its growth figures, tipping 570% growth in earnings from $0.7 million to $4 million.
The combined group made revenue of $16 million and completed 4,964 transactions which are gains of 74% and 57.5% on the prior year.
Agency Group managing director Paul Niardone noted the real estate market had been robust but his company had outperformed the broader market.