Hi, I am Rose, and you are watching Kalkine TV live from Sydney. This is The Stocks in
Action show. In today’s show, we will take a look at the latest updates from telecom
company Macquarie Telecom, clinical-stage bio-pharmaceutical company Dimerix and
also Sea-Link, a tourism and transport service provider. We will cover Afterpay, a buy-now, pay later
giant and also mineral discoverer Renascor Resources. We’ll be looking at the results during their respective
financial year, dividends distributed and their latest updates. Lastly, we will take
a quick glance at developments across ASX200. So, stay tuned. Firstly, shares of Macquarie
Telecom were down on Wednesday after the company announced its results for the
full year ended 30 June 2021, which is in line with guidance. The company registered
full year revenue of $285.1 million, an increase of 7 per cent compared to $266.2 million
in financial year 2020. The company’s Earnings Before Interest, Taxes, Depreciation, and
Amortization stood at $73.8 million, up 13 per cent from the prior year. Total operating
cash flows stood at $45.3 million. Macquarie Telecom has decided to increase investment
in cyber security, people and technology, to benefit from the increasing demand for
business and government to uplift their security defences. Moving on, Dimerix - is a
clinical-stage bio-pharmaceutical company. Dimerix shares were trading up as the
company shared that it has now started ACTION3, the Phase 3 clinical study in patients
with a rare kidney disease that affects the filtering of the kidney. The Company stated
that the first ethics submission had already been filed in Australia. Dimerix shared
that around 167 sites in up to 18 countries across North America, South America, Europe,
The United Kingdom, and Asia Pacific regions are likely to take part in this study. Australia
and New Zealand are being identified as the first countries planned to initiate this patient
recruitment across five sites collectively and other countries following shortly after.
The Phase 3 study is titled ‘Angio-tensin II or ACTION3 for short. This is a final,
multi-centre, randomised, double-blind, placebo-controlled study of the efficacy and safety of DMX-200
in patients with the kidney disease who are receiving a stable dose of an angio-tensin
II receptor blocker. Once the ARB dose is stable, patients, aged 18 to 75 years, will
be randomised to receive either DMX-200 which is a 120 mg capsule twice daily or placebo.
………….
Next news covers SeaLink, a tourism and transport service provider. Shares
of SeaLink were trading flat on Wednesday after the company shared its financial year
2021 results.
It has an underlying Net profit after tax of $74.7 million, up 152.6 per cent on
the prior year, with total revenue of $1.17 billion.
It has delivered solid gross operating cash flow, strengthening the asset base and balance
sheet. The company’s margin growth is from operational efficiency, procurement, and
service changes.
SeaLink has demonstrated the resilience of its operations and quality of its contracted
earnings base in the face of an unprecedented global disruption. The company has delivered
on its objectives in a safe and responsible manner whilst positioning the Group to capitalise on
opportunities as they present.
And now, it’s time for a short break but stay tuned as I’ll be back with
more trending updates for the Australian market.
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• Welcome back. This is Rose, your host live from Kalkine Studio. And you are
watching ‘The Stocks in Action show’. Next news covers Afterpay which is a buy
now pay later giant. Shares of Afterpay were trading down on Wednesday after the
company announced its full year results to 30 June 2021. The company shared
that it has continued to grow globally during financial year 2021 and strong operating performance
was recorded across all regions. It had an underlying sale of $21.1 Billion, a 90 per
cent rise on the prior corresponding period.
On a constant currency basis, the Group delivered a 102 per cent increase in financial
year 2021 Underlying Sales on the prior corresponding period to $22.4 billion. Active customers
during financial year 2021 grew to 16.2 million, an increase of 63 per cent against
9.9 million on 30 June 2020.
Last news to be discussed in this session covers Renascor Resources. Shares of the
mineral discoverer are trading up on Wednesday after the company entered into a non-binding strategic
co-operation and offtake Memorandum of Understanding with South Korean conglomerate POSCO.
The Memorandum of Understanding is for the purchase of 20,000 to 30,000 tonnes per annum of
Purified Spherical Graphite. The material will come from its planned Battery Anode Material
operation in South Australia. MOU also provides for a potential equity investment by POSCO
in Renascor.
POSCO is the largest anode manufacturer outside of China. It is one of the world’s largest
suppliers of steel and lithium-ion battery material. In addition, it is the largest single
private customer of Australian exports. Recently, POSCO has been actively pursuing battery minerals
exposure in Australia. It wants to establish a value chain for battery materials by 2030.
Renascor currently proposed Stage 1 Purified Spherical Graphite production capacity of approximately
30,000 tonnes per annum. Before wrapping up, let us quickly glimpse through developments
across equity and commodity markets. Let us first start with ASX 200 performance. The
S&P/ASX200 is up today, gaining 36.30 points or 0.48%. Wisetech Global is up 29.25
per cent, while Hub24 is up 8.06 per cent. 6 of 11 sectors are higher along with the S&P/ASX
200 Index. Materials is the best performing sector, while Telecommunications Services
is today's worst performing sector in the morning. Alright then, that is all for now.
Stay tuned with Kalkine TV for more live market updates. We will be back with more news on
markets, the economy and diverse themes and sector.