The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open higher today, the USA’s S&P 500 Index (.INX) rose by 0.72% on Wednesday.
Australian Dollar ($A) (AUDUSD): 68.63US cents
Dow Jones (DJI): up 0.85%
Oil (WTI): $US56.01 per barrel
Gold: $US1,495 per ounce
ASX Sharemarket News
In ASX sharemarket news, Synlait Milk Ltd (ASX: SM1) has announced its annual result for the 12 months to 31 July 2019.
Synlait reported that its revenue went up 17% to $1.02 billion and net profit increased by 10% to $82.2 million.
Sales volume increased by 16% to 149,730MT and operating cashflow grew by 39% to $136.7 million.
Synlait CEO Leon Clement commented: “Our team delivered a strong result, invested in our future and clarified our direction.”
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5G Networks Ltd (ASX: 5GN) announced that it’s going to acquire Australian Pacific Data Centres Pty Ltd for $3.5 million cash at 7x the EBITDA (click here to learn what EBITDA means).
APDC has over 150 data centre racks, taking 5GN’s total to over 600 racks. 5G Networks said it will help execute its wholesale channel strategy for data centre services and introduce its fibre network and cloud services to other carries, hardware vendors and managed service providers.
5G Networks Managing Director Joe Demase said: “This is a valuable acquisition as typically facilities like APDC are not available; this purchase successfully executes on our infrastructure plans and we now have a clear understanding of what the next chapter looks like.”
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Volpara Health Technologies Ltd (ASX: VHT) has announced that a group of its founders and early investors, some of whom are directors, have sold a portion of shares to institutional investors.
Dr Ralph Highnam said: “We’ve been on the radar of many of the big domestic and international institutions since the capital raise early this year, but not all of those parties were able to participate in the raise due to demand.
“Upon receiving the approach to cross the parcel of shares, the Board considered the offer and agreed that it would be beneficial for the Company and its shareholders to strengthen its institutional shareholder base and increase the proportion of stock held in free float.”
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Disclaimer: Any information contained in this article is limited to general financial/investment advice only. The information has not taken into account your specific needs, goals or objectives, so please consider consulting a licenced and trusted adviser before acting on the information. Please read The Rask Group’s Financial Services Guide (FSG) for more information. This article is authorised by Owen Raszkiewicz of The Rask Group, which is a corporate authorised representative No. 1264179 of Strawman Pty Ltd (ACN: 610 908 211) (AFSL: 501 223).
At the time of publishing, Jaz does not have a financial interest in any of the companies mentioned.