The EML Payments Ltd (ASX: EML) share price is still on the rise today after finishing off yesterday as the best performer in the ASX 200.
It’s presently up 6.8% to trade around $5.24 a share.
While the EML Payments share price continues going up, let’s take another look at the HYFY21 results.
EML Payments share price explodes after these results
EML Payments increased its revenue during the HYFY21 period by 61% to reach $95.3 million.
The company’s HYFY21 gross profit jumped by 50% to $67.3 million.
Underlying operating cash inflows totalled $35.1 million.
The EML Payments Group expects FY21 earnings before interest, tax, depreciation and amortisation (EBITDA) to be in a range of $50 million to $54 million.
This represents a growth of between 54% and 66% when compared to the HYFY20 EBITDA of $32.5 million.
The company finished off the period with $136.5 million cash on hand, with no secured debt.
Director comments about the EML Payments share price horizon
Discussing company operations during HYFY21 Chairman of the Board, Peter Martin, said:
“Maintaining momentum during tough times is a real challenge for all companies. The team at EML has generated record results for the Group whilst revitalising EML’s strategy and undertaking the integration of PFS. This has happened whilst dealing with the impacts of COVID-19 in key markets, plus Brexit in the UK, with most of our people working remotely. A tremendous effort…
In summary, EML is successfully trading through one of the worst periods in global economic and social memory. As COVID-19 impacts recede with the introduction of vaccines in 2021 and beyond, EML is ideally placed to take advantage of the explosive growth in the payments industry around the world. Our financial results should continue to reflect that opportunity.”
EML Payments wrap up
EML Payments provides payment solutions in Australia offering payment technology solutions for payouts, gifts, incentives and rewards, and supplier payments.
The company issues mobile, virtual, and physical card solutions around the world and manages more than 3,500 programs across 26 countries in North America Europe and Australia.
The EML Payments share price is up 17.2% year-to-date.
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
- ASX 200 dips, EML soars after reporting, Appen sinks
- One year on and 50% up, the All Technology Index is booming
- ASX 200 down 0.5%: Domino’s delivers, Westpac impresses, Coles sinks
- Why Domino’s, EML Payments, Redbubble, & Westpac shares are storming higher
- Why the EML Payments (ASX:EML) share price is rocketing 19% higher
Gretchen Kennedy has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends EML Payments. The Motley Fool Australia has recommended EML Payments. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
The post Why the EML Payments (ASX: EML) share price is still pushing higher appeared first on The Motley Fool Australia.
from The Motley Fool Australia https://ift.tt/3bieJB0
Leave a Reply