Hello, I'm Sage and thanks for joining me on Kalkine TV for ASX
Buzzing Stocks for the Day.
The S&P/ASX200 was lower today, dropping 20.00 points or 0.28% after setting a new 100-day high
as of November 15, 10:23 am AEDT. The bottom performing stocks in this index were CORE
LITHIUM down 4.02% and ALLKEM, down 3.87%. Over the last five days, the index
has gained 2.41%, but is down 4.28% for year to date. Today, 8 of 11 sectors were
higher over the last week, along with the S&P/ASX 200 Index. Although little changed,
Consumer Staples is today's best performing sector, up 0.62% for the past five days.
Looking at some latest announcements now.
United Malt Group today announced its financial results for the year ended 30 September 2022.
Group revenue increased by 13.9 per cent, primarily reflecting higher barley prices.
Underlying EBITDA was down 23.2 per cent on the prior year. Statutory Net Profit After
Tax was $11.6 million compared to $14.5 million for 2021 financial year. Statutory earnings
per share were 3.9 cents compared to 4.8 cents for the prior year. The group’s financial
results were adversely affected by market conditions, including the impact of the severe
drought on the Canadian barley crop, significant disruption to ocean and rail supply chains
and increased freight costs. The board declared a 1.5 cent interim unfranked dividend in May
2022 in respect of the company’s first half result. In light of the company’s second-half
profit performance, the Board did not declare a final dividend for 2022 financial year but
expects to resume payment of dividends in line with United Malt’s policy to distribute
approximately 60 per cent of underlying net profit after tax as dividends. The company
continues to expect a material increase in earnings in 2023 financial year. United Malt
is the fourth largest commercial maltster globally, with approximately 1.25 million
tonnes per annum of capacity across 12 processing plants in Canada, United States of America,
Australia and the United Kingdom.
San Francisco-based Life360 today reported unaudited financial results for the three
and nine months ended September 30, 2022. The company had an exceptionally strong third
quarter back-to-school period, with its largest ever quarterly monthly active user’s growth
both internationally and in the U.S. Additionally, annualised monthly revenue of $184 million
is up 53% year-on-year, and it finished the quarter with cash and cash equivalents of
$58.9 million. Life360 delivered more than 100 thousand net Paying Circle additions despite
the price increase of almost 50% for new U.S. monthly subscribers, which took full effect
in August, and is currently being implemented for existing iOS monthly subscribers, with
full effect in December. Life360 said, this performance, together with lower-than-expected
churn, is testament to the value company provide to its subscribers and sets us up for very
strong recurring revenue growth in 2023 calendar year. Life360 is a San Francisco, California–based
American information technology company that provides location-based services, including
sharing and notifications, to consumers globally.
Sunland Group announces the directors have declared a special dividend of 60 cents per
share. Sunland indicated in its announcement of 30 September 2022 this dividend may be
paid once the Debt Notes had been redeemed and the Group is released from its debt covenants.
The Debt Notes were redeemed on 31 October 2022 so that the Group has now satisfied all
its external debt facilities. The dividend will be fully franked and paid 7 December
2022. Sunland Group is engaged in residential property development and construction, headquartered
in Brisbane and has offices in Sydney and the Gold Coast.
ALRIGHT, that's all for this edition of ASX Buzzing Stocks for the Day; another episode
is coming your way. Until then, make sure to keep watching Kalkine TV for the latest
market insights and business news. I'm Sage, signing off for now.