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Full-Year Results Of Three Stocks: SEQ, KPG And HIT

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Sequoia Financial Group Limited, Kelly Partners Group Holdings Limited and HiTech Group Australia Limited have released their full-year results for FY2019 ended 30 June 2019. Let’s see how these companies performed during the period.

Sequoia Financial Group Limited

An integrated financial services company, Sequoia Financial Group Limited (ASX: SEQ) offers investment and superannuation products, retail, wholesale and institutional trading platforms, and wealth management and advisory services. Headquartered in Sydney, Australia, SEQ caters to wholesale as well as self-directed retail customers. It also serves 3rd party professional service businesses.

On 20 August 2019, Sequoia Financial Group released its full-year results for the period ended 30 June 2019. The company reported an increase of 9.7% in revenues from ordinary activities to $ 83.02 million. However, its loss for the period stood at more than $ 1 million.

Source: Company’s Report

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In the first nine months, the Group made heavy investments in improving the capability to deal with the heavy growth aspirations. The company also took a conservative stance and wrote down the value of the non-core business, intangibles, fixed assets in addition to writing off some of the historical accrued revenues as bad debts. The group incurred some heavy costs related to acquisitions, as well as redundancy costs and contract renegotiation costs related to its work concerning the enhancement of the technology solutions around clearing, direct to market sales units and the legal document business. The sum of all the non-recurring items is around $ 1.5 million (including actual write downs).

On 24 July 2018, the company secured $ 5 million in a placement through the issue of 15,151,515 new fully paid ordinary shares at a price of $ 0.33 per share. These funds were raised from existing and new institutional and sophisticated investors to support the company in paying its short-term debt as well as improve the financial position. Additionally, the company divested its entire private share investment of $ 1,657,850 in Noble Oak in the month of February 2019.

Recently, the company, on 7 August 2019, unveiled the acquisition of a successful financial advice dealer group, Libertas Financial Planning Pty Ltd, which has approx. seventy authorised representatives. The acquisition would help the company in boosting its operations in the advice marketplace.

Outlook:

In FY2020 and beyond that, the company would target a net revenue growth (after sales costs) of 23% with a spread in the range of 15% to 40% across various operating divisions.

The short-term goals of SEQ include:

  • Generation of strong cash flow from all divisions.
  • Provide a return on equity on non-cash equity of 15% and even more than that.
  • Rebuild investors’ confidence.
  • Achieve the share price trading at or more than equity per share.
  • Restart paying dividends to shareholders at 20% to 50% of net profit after tax.

Stock Performance:

By the end of day’s trading on 21 August 2019, the price of the share of SEQ was A$ 0.175, down by 2.778% as compared to its previous closing price. SEQ has a market cap of A$ 21.46 million with ~ 119.19 million outstanding shares, an annual dividend of 2.78% and a PE ratio of 30.510x.

Kelly Partners Group Holdings Limited

Kelly Partners Group Holdings Limited (ASX: KPG) is a specialist chartered accounting network that offers better services to private clients, businesses as well as their owners and families. On 20 August 2019, the company announced its FY2019 results for the period ended 30 June 2019. It reported group revenue of $ 40 million during FY2019, in line with the prior guidance. There was an increase of 7.5% in organic revenue to $ 31.6 million, which excludes Sydney CBD. The total revenue growth, excluding Sydney CBD, increased by 11.9%.

Underlying EBITDA of the group was also in line with the previous guidance, reaching $ 10.9 million during the period, while underlying attributed NPATA for the period was $ 3.2 million. The company reported a strong cash inflow through operating activities, up 51% when compared with the previous corresponding period, to $ 10.0 million. Total dividend for FY2019 was 4.3 cents per share, representing a growth of 10% on FY2018.

FY19 Income Statement (Source: Company’s Report)

Operational Highlights:

  • The growth in organic revenue was driven by increase in volume and price.
  • The company made three Tuck-in acquisitions and 1 Marquee acquisition. It expects a full-year revenue contribution of $ 3.0 million – $ 4.0 million during FY2020 from the acquisitions made in FY19.
  • KPG implemented upgrades to the IT server in FY2019, while trainings for client managers and business managers are ongoing.
  • The company also reported a 56% increase in revenue from other services including wealth management, corporate advisory and investment office.

Stock Performance:

The shares of KPG last traded on 20 August 2019 and closed at a price of A$ 0.880. KPG has a market cap of A$ 40.03 million with ~ 45.49 million outstanding shares and a PE ratio of 19.3x.

HiTech Group Australia Limited

HiTech Group Australia Limited (ASX: HIT), a provider of recruitment and  ICT (Information and Communication Technology) consulting services, released its investor presentation focusing on its full-year results for the period ended 30 June 2019, on 20 August 2019.

FY2019 Highlights:

FY2019 remained another record year for HiTech Group Australia Limited. Revenue of the company during the period improved by 15% to $ 30.28 million, while EBITDA grew by 10% to $ 4.09 million and net profit after tax increased by 13% to $ 2.89 million when compared with the same period a year ago.

Net tangible assets in FY2019 remained at par with respect to FY2018 at $ 0.19 per share. The company also announced a fully franked final dividend of 4 cents per share, scheduled for payment on 12 September 2019 to all the registered shareholders by the closure of the business on 29 August 2019.

At the end of the reported period, the company had a cash balance of $ 5,927,690, which was up 1% from $ 5,862,986 recorded in the same period a year ago.

The presentation also covered the 2 Tier growth strategy of the company. It includes organic growth and M&A growth.

Organic Growth:

Organic growth comprises of: 

  • On-boarding of new clients.
  • Improving the service offerings to the company’s existing customers by providing them with a wider suite of ICT consulting as well as recruitment solutions along with base contracting agreements.
  • Expansion of the ICT offering into high margin consulting and service space to meet the clients’ objectives.

M&A Growth:

M&A growth comprises of:

  • Pursuing acquisitions in a highly fragmented market, with the targets matching the culture of the company as well as fitting into the industry. It should be EPS and CFPS accretive and should provide positive returns to shareholders.
  • Multiple probable targets being considered.
  • The board is committed to focus on employing a disciplined M&A growth strategy that is in the best interest of shareholders and beneficial for the company.

Outlook for FY2020:

The company has placed itself well to capitalise on the demand for its ICT talent and services. The focus of the company would be to provide its clients with high-grade services and simultaneously maintaining the profitable growth.

The FY2020 outlook would rely on the prevailing economic situations along with the demand and supply forces for its ICT talent as well as services.

Stock Performance:

By the end of day’s trading on 21 August 2019, the price of the share of HIT was A$ 1.170. HIT has a market cap of A$ 44.52 million and ~ 38.05 million outstanding shares, an annual dividend yield of 6.84% and a PE multiple of 15.29x.


Disclaimer

This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.

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YouTube adds liaison to help it communicate with creators

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Susan Wojcicki, chief executive officer of YouTube.

David Paul Morris | Bloomberg | Getty Images

YouTube has hired a liaison to act as an in-between for the people who make content for the platform.

Matt Kovalakides has been promoted as the company’s new “head creator liaison” role at the company. Kovalakides first joined the company in 2012 as a content strategist after he was a YouTube creator himself. A former filmmaker, he created short, scripted comedies under his YouTube name “Matt Koval,” which garnered more than 100,000 subscribers.

In the new role, Kovalakikes will advocate for creators internally while defending the company to creators by explaining the platforms “complexities” and “scale,” according to YouTube. He’ll engage publicly through social media, blog posts, videos and in-person at creator events, the company said, adding it’s heard creators like to get their information about YouTube from different mediums.

“[The] Goal is to help creators understand YouTube, and vice versa,” Kovalakikes tweeted Monday. “Complicated stuff on both sides.”

The new role comes as Google-owned YouTube has endured several conflicts with creators this year, with some complaining about harassment and hate speech, and others arguing that the platform’s rules about removing advertisements — a process called “demonetization” — are random and poorly explained. Some content creators, who count on ads as their main source of revenue, were enraged in September after some received emails suggesting they would lose their verification status on YouTube.

“Spent years as a @YouTube creator, and then years as a YouTube employee,” Kovalakides tweeted. “There are challenges on both sides that each often don’t understand. My new job is to try and improve that understanding.”

Last year YouTube hired a number of strategic partnership managers to act as liaisons to political publications. YouTube declined to answer questions about Kovalakikes’ reporting structure, only saying that he is a part of YouTube’s editorial team.

The role is similar to Danny Sullivan’s role for Google’s search team. Sullivan was a leading journalist covering the search industry for many years, and joined Google as its Search Liaison in 2017 to help the company handle relationships with outsiders who have questions about how Google ranks search results.

YouTube broke out ad revenue numbers for the first time in its fourth quarter earlier this month. YouTube ads generated $15.15 billion in revenue in fiscal 2019, with $4.72 billion generated in the fourth quarter alone.

Watch now: The rise of deepfakes and what Facebook, Twitter and Google are doing to protect them



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Interactive science at East End

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WILMINGTON — At East End’s recent Science Night, activities gave students opportunities to deepen their learning of science concepts through problem solving, questioning and engagement.

Families were invited to come to East End after school to enjoy a meal and then to rotate through different science stations that were set up in the gym.

The stations were led by high school science students and fifth-grade teachers.

This opportunity was possible because of a grant that East End received from the Wilmington Schools Foundation.







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MSU researchers invent significant advancement in Hopkinson bar technology

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Mississippi State and REL personnel hold the MSU-developed serpentine bar technology, a significant advancement in Hopkinson bar systems. Pictured, from left, is MSU Center for Advanced Vehicular Systems Associate Director Hongjoo Rhee, REL Co-owner Adam Loukus, Associate Professor of Mechanical Engineering Haitham El Kadiri, REL Engineer Luke Luskin, Assistant Professor of Mechanical Engineering Wilburn Whittington, REL President Josh Loukus, mechanical engineering doctoral student Trey Leonard of Madison, Alabama, and mechanical engineering undergraduate student Billy Zhang of Starkville. (Submitted photo)

Contact: James Carskadon

STARKVILLE, Miss.—Mississippi State University researchers have patented and licensed a major advancement in split Hopkinson pressure bar technology, significantly reducing the amount of space needed for intermediate and high-strain rate testing.

While conducting research on infant head trauma, researchers at MSU’s Center for Advanced Vehicular Systems needed a way to conduct impact testing with biological materials. While a traditional Hopkinson bar system, an apparatus commonly used for testing impact and strain on materials, would have worked, it would have taken up hundreds of feet in length—space that was not available at the bustling research center. However, CAVS engineer Wilburn Whittington, with the support of colleagues Haitham El Kadiri and Hongjoo Rhee, was able to prototype a serpentine bar that can accomplish the same task in only 20 feet of space.

Whittington is an assistant professor in MSU’s Department of Mechanical Engineering. El Kadiri is an associate professor in the Department of Mechanical Engineering and holds the Coleman-Whiteside Professorship. Rhee is an associate professor at the same department and is an associate director at CAVS.

“We’ve already used this product in our work for the military, national labs, and automotive companies,” said Whittington. “This has tremendous potential for universities and laboratories, as well as any company making materials or looking at crash testing and other tests like that.”

After the research team patented the new technology, it gained interest from the scientific community and REL, a Michigan-based manufacturer that makes and sells Hopkinson bar systems. Working with MSU’s Office of Technology Management, El Kadiri, Rhee and Whittington were able to license the serpentine bar technology to REL, which began marketing the product this week at The Minerals, Metals & Materials Society annual conference in San Diego, California.

Whittington said the serpentine bar can be used as a new product and also used to enhance old products, making shorter Hopkinson bar systems capable of conducting tests that previously required significantly more space. He noted that in labs that conduct high-speed tests with radioactive materials, these materials must be handled in specialized rooms, which puts space at a premium.

“People test things like explosives and armor on these systems,” Whittington said. “Like with biological materials, these labs have to be specialized, so a serpentine bar gives them more testing abilities.”

El Kadiri, Rhee, and Whittington were able to commercialize their invention through a Mississippi University Research Agreement, which allowed them to form a private company to market the technology, Standard Dynamics, LLC. In addition to showcasing the technology in San Diego this week, MSU and REL personnel will highlight the serpentine bar at the Society of Experimental Mechanics annual conference this summer in Orlando, Florida.

For more on CAVS, visit www.cavs.msstate.edu.

For more on the Office of Technology Management, visit www.otm.msstate.edu.

MSU is Mississippi’s leading university, available online at www.msstate.edu.



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