Reporting Season Round Up: Industrials and foodies topped the ASX this morning
It was foodies and industrial companies that released the most impressive quarterlies on the ASX today.
Mader is a heavy equipment and industrial maintenance provider.
It listed on the ASX 2 years ago at $1 per share and after treading water for the first 18 months of listed life, its share price has nearly doubled since the end of May.
Mader’s global revenues grew 31% from last year’s September quarter from $69.7 million to $91.1 million and its earnings grew 47% from $7.3 million to $10.8 million.
This was the third straight quarter in which it achieved record growth and while the vast majority ($79.7 million) was made in Australia, it is gradually expanding into North America and its revenue grew by 57% over there.
The company paid down nearly $5 million in debt and noted demand for its services was strong due to “an increasing maintenance deficit caused by the pandemic”.
Still with industrials and Orcoda is a transport logistics and services company offering contracting services as well as a digital platform which can help clients with asset allocation and scheduling.
The company was $779,000 cash flow positive from operations – the fifth consecutive quarter it was in positive territory.
Its revenue was $4.66 million, up 42% from the previous quarter, and earnings across the three divisions of the company was $1.26 million.
AIM operates translation technology that aims to works by making a translation of its own and farming out errors made by human translators.
The company booked quarterly revenues of $14.9 million, up 35% on the prior corresponding period and its contracts included one with the NSW Parliament and another for the NBC’s Peacock streaming service.
While the company is still below its IPO price of $1.23 per share, AIM shares achieved a slight boost this morning.
Rounding out the list today are a couple of “foodie stocks”. Angel Seafood specialises in oysters and it booked record quarterly revenues of $2.1 million.
This was up 5% on the prior corresponding period even with the NSW and Victoria lockdowns.
The company noted trading conditions picked up towards the end of the quarter and it expects this year’s December quarter to once again be a peak period for the company.
Wide Open Agriculture is also an ASX listed foodie but one of the few in the plant-based food space.
The company already sells a plant-based milk product, OatUP, and it is undertaking research into further uses for its lupin-based concentrate.
It finished the quarter with $1.67 million in revenue — a gain of 118% up from the prior corresponding period.
OatUP is now offered in over 300 retail and food service venues in Australia and it recently reached a distribution agreement for Singapore.