Reporting Season Round Up: Eclectic investment firm HGL led the pack in morning trade
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Tech made up the majority of top stocks today but taking first place was investment company HGL (ASX:HNG).
HGL is an investment company that owns or has owned a wide variety of assets from hatmaker Mountcastle – which began in 1835 and is one of Australia’s oldest companies – and cosmetics brand BLC which last month was sold to Cellmid (ASX:CDY).
Today the company announced a $14 million profit after tax for the 12 months to September 30 – a figure that includes revaluation gains – and declared a 1 cent per share dividend.
Beyond the gains it realised and the promise of further acquisitions, one holding it singled out was H&G Investment Management which it only bought in April but delivered $300,000 in performance fees.
AD1 is one of the few HR tech stocks which owns a number of software businesses in this field.
The company reported $1.95 million in cash receipts — up 52% from the prior quarter.
It also flagged several contract wins including with the Australian Department of Defence and Air Force.
In addition, the company reported a number of international contract wins and 94% quarterly growth in its the Art of Mentoring business – which it acquired just over 12 months ago and provides mentoring programs.
Life360 is a US tech stock that listed on the ASX in May 2019, and helps parents track and communicate with their children.
After its share price lagged for the first two years, things began to take off from the middle of this year.
The company reported US$120.1. million in Annualised Monthly Revenue which was a year on year increase of 48%. It also boasts Monthly Active Users of 22.2 million in the US alone and 33.8 million across the world.
It credited the US emerging from COVID-19, and children returning to schools.
A few years ago, this company was focused on shark tracking but now it has a broader Software as a Service (SaaS) product range that allow users to encrypt and send video, audio and data with military-grade security to anywhere in the world.
Harvest booked net operating cash outflows of ~$1.5m for the quarter on cash receipts of $4.074m.
It finished Q3 with $4 million left in the kitty, and flagged a number of operational achievements.
The company moved into an innovation hub in Perth and continued integrating Silicon Valley company Snap Support, which it is rebranding as a leverage point to launch into the US market.
Zimi is in business of IoT-powered devices.
The company said it would be fulfilling 30,000 device orders in excess of $1.7 million, although the majority of this revenue would only be recognised in the first half of the next calendar year.
One of its customer is fellow ASX listee Beacon Lighting (ASX:BLX) which sells LED lighting for households.
The company raised $2.26m during the quarter, taking its cash balance to $3,767,000.