Amaysim Australia Ltd (ASX: AYS) shares are edging higher following the release of the company’s half-year results. At the time of writing, the Amaysim share price is trading 0.65% at 77.5 cents.
The financial results for the half year ending 31 December (H1 FY21) are likely to be the last from the company, as it looks to delist from the ASX at the end of March.
What did the company report?
The Amaysim share price is pushing higher after this morning’s update in which the company summarised the sale of its energy business to AGL Energy Limited (ASX: AGL). The sale occurred on 30 September last year for an all cash consideration of $115 million.
A month later, on 2 November, Amaysim took a step towards winding up the company when it announced the intent to sell its mobile segment to Optus Mobile for $250 million. That announcement saw the Amaysim share price leap more than 10% on the day.
On 21 January, shareholders voted in favour of the mobile segment sale, which was completed on 1 February.
Regarding its half-year results, the company noted:
The half year results for the six month period to 31 December 2020 comprise of Energy, being a discontinued operation, and Mobile that is considered a discontinued operation held for sale during the period.
With that caveat in mind, net profit after tax (NPAT) from both the energy and mobile segments came in at $6.52 million in H1 FY21, up 65% compared to the previous corresponding period.
Amaysim reported a 7% decline in revenue from ordinary activities, while diluted earnings per share (EPS) were 2.06 cents, up from 1.27 cents in H1 FY20.
The company will not pay any dividends for the half year. Amaysim noted its main asset is now a material cash balance and it is currently subject to an unconditional off-market takeover offer from WAM Capital Limited (ASX: WAM).
If all goes to plan, Amaysim will pay its major distribution in April and expects to pay the final distribution around October
Amaysim expects to delist from the ASX on 31 March.
Amaysim share price snapshot
The last 12 months have been good for shareholders, with the Amaysim share price up by more than 140%. By comparison, the All Ordinaries Index (ASX: XAO) is flat over that same period.
Year to date, the Amaysim share price is up 1.97%.
Where to invest $1,000 right now
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of February 15th 2021
More reading
- Why is the WAM Capital (ASX:WAM) share price on the rise?
- Top brokers name 3 ASX shares to sell next week
- Wilson Asset Management (WAM) thinks these 2 ASX shares are a buy
- Here’s why the AGL (ASX:AGL) share price is climbing higher today
- ASX 200 down 0.1%: Telstra update impresses, AMP sinks, Newcrest jumps
Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
The post Amaysim (ASX:AYS) share price higher as company moves to delist appeared first on The Motley Fool Australia.
from The Motley Fool Australia https://ift.tt/3qIYD9Z
Leave a Reply