Category: Stock Market

The National Australia Bank Ltd (ASX: NAB) share price will be one to watch closely today.

This follows the release of an announcement after the market close on Tuesday.

Why is the NAB share price on watch?

Late yesterday afternoon the banking giant confirmed speculation that it interested in acquiring the Australian Consumer business of Citigroup.

NAB commented: “Following media speculation, NAB confirms it is in discussions with Citigroup about the potential acquisition of its Australian Consumer business. NAB regularly assesses opportunities to acquire businesses that support its growth strategy in core banking markets.”

However, the big four bank has warned the market that there is no certainty these discussions will lead to a transaction. It will update the market further if and when appropriate.

How close is a deal?

According to the AFR, a $2 billion deal could be a lot closer to being sealed than NAB is leading on.

It is reporting that NAB has appointed Bank of America to help it secure the business, through an auction that is understood to be in the final stages. And, importantly, NAB is emerging as a frontrunner in the auction.

This deal has the potential to be a positive for the NAB share price. The banking giant reportedly believes it will help grow its retail book and is attracted to Citi’s expertise in unsecured lending. It also notes that it would be aligned with NAB CEO Ross McEwan’s simple and digital strategy, with some 90% of its 1 million customers coming to the lender through digital channels.

The report suggests the deal would add $11.5 billion in total residential loans and finance leases in Australia to NAB’s books. This includes $6.6 billion in housing loans and $3.6 billion in credit cards.

The NAB share price is up a sizeable 14.5% since the start of the year.

The post NAB (ASX:NAB) share price on watch after confirming Citi acquisition interest appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Wednesday
• Top brokers name 2 ASX dividend shares to buy today
• Why the NAB (ASX: NAB) share price has jumped today
• Which ASX 200 shares helped deliver record profits and a 4.5% dividend?
• Leading brokers name 3 ASX shares to buy today

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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.

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The Select Harvests Limited (ASX: SHV) share price has gone up around 23% over the last month.

What is Select Harvests?

Select Harvests is a vertically integrated almond business, consisting of almond orchards, processing (hulling, shelling, roasting, slicing etc), trading (industrial products) and consumer products (through brands like Lucky and Sunsol).

It’s one of the largest Australian almond companies, supplying almonds domestically and internationally, to supermarkets, health food stores, other food manufacturers, retailers and the almond trade.

What has happened recently?

Yesterday, the business gave an update about the 2021 crop and current market conditions.

Select Harvests said that its 2021 harvest has been completed and all of the 2021 crop has been delivered to the Carina West processing facility in Victoria.

With over 60% of the crop processed, the nut company estimated that the crop volume, including from the acquisition of the Piangil orchard, will be approximately 28,250 MT, up around 21% from the 2020 crop volume of 23,250 MT.

Select Harvests said that processing productivity is continuing to improve, with investments in technology delivering efficiency gains and improving quality after leaving the farm.

Market conditions

Select Harvests also said that the almond industry has experienced significant growth in global demand across all markets, particularly in the markets of India, Europe and China.

Australian almond exports year on year are up 54%, with the South and Central Asian (India) market up 200%, Europe up 69% and the North East Asian (China) market up 9% during the period.

Continued strong shipment numbers and the worsening drought situation in California have led to an appreciation in almond pricing of between 5% and 10% over the last six months.

In the last few days, the US Department of Agriculture released the 2021 objective crop estimate for the 2021 US almond crop of 2.8 billion pounds, down 12.5% on the 3.2 billion pound subjective estimate released on 12 May 2021. With the California drought worsening in recent months, Select Harvests said the subjective estimate has proven to be too optimistic.  

Select Harvests said that forward commitments for California’s 2021 crop are down 29% compared to the same period last year with growers reluctant to sell and waiting to understand the potential impact of the drought on supply.

The business said that 60% of its 2021 crop is committed at prices in the range of A$5.90 per kilo and A$6.40 per kilo. However, the un-committed portion of the crop is the lower value grades. Select Harvests also said that 90% of the crop is covered at an exchange rate of 0.73AUD/USD and the current market price is in the range of A$6.20 to A$6.60.

Both Australian and US processors are experiencing some shipping delays due to container shortages. But Select Harvests said that it’s only experiencing minor related cashflow delays.

Management said development of Select Harvests’ 2022 crop is progressing well with good tree health, according to management. Volumes are benefiting as younger orchards reach maturity. Water supply and pricing is “much improved”.

Leadership commentary on the outlook

Paul Thompson said:

Record almond shipments and the worsening Californian drought have led to a recent price appreciation. Demand for almonds, both in their natural form and as a value-added food ingredient, in products such as plant based milks and yoghurts, continues to grow. Thanks in part to the December 2020 acquisition of Piangil Almond orchard, Select Harvests is set to achieve a record almond crop of 28,250MT in 2021. With good progress being made on the 2022 crop, Select Harvests remains focused on the factors within its control, including almond volume, quality, value adding and operating costs.

The post Why the Select Harvests (ASX:SHV) share price is up 23% in a month appeared first on The Motley Fool Australia.

More reading

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• Why the Select Harvests (ASX:SHV) share price is soaring 15% today
• Select Harvests (ASX:SHV) share price hits new 52-week high

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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.

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On Tuesday the S&P/ASX 200 Index (ASX: XJO) gave back its morning gains and ended broadly flat. The benchmark index ended the day at 7,332.1 points.

Will the market be able to bounce back from this on Wednesday? Here are five things to watch:

ASX 200 futures pointing higher

The Australian share market looks set to edge higher on Wednesday. According to the latest SPI futures, the ASX 200 is expected to open the day 8 points or 0.1% higher this morning. This is despite it being a poor night on Wall Street, which saw the Dow Jones fall 0.3%, the S&P 500 drop 0.35%, and the Nasdaq tumble 0.4% lower.

Apple to enter BNPL market

It could be a tough day for the shares of Afterpay Ltd (ASX: APT) and Zip Co Ltd (ASX: Z1P) on Wednesday amid speculation that Apple is going to enter the buy now pay later (BNPL) market. According to Bloomberg, the upcoming service, known internally as Apple Pay Later, will allow consumers to pay for any Apple Pay purchase in instalments. Apple will use Goldman Sachs as the lender for the instalment loans.

Oil prices push higher

Energy producers such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could rise on Wednesday after oil prices pushed higher overnight. According to Bloomberg, the WTI crude oil price is up 1.6% to US$75.31 a barrel and the Brent crude oil price is up 1.8% to US$76.51 a barrel. Traders were buying oil on the belief that US crude stockpiles are falling.

NAB confirms Citi interest

The National Australia Bank Ltd (ASX: NAB) share price will be on watch today. This follows the release of an announcement that confirms that the banking giant is interested in acquiring the Australian Consumer business of Citigroup. NAB advised that it is in discussions with Citi but warned that there is no certainty these discussions will lead to a transaction.

Gold price edges higher

Gold miners Evolution Mining Ltd (ASX: EVN) and Newcrest Mining Limited (ASX: NCM) will be on watch after the gold price edged higher. According to CNBC, the spot gold price is up 0.15% to US$1,808.50 an ounce. This was despite the release of a stronger than expected US inflation report.

The post 5 things to watch on the ASX 200 on Wednesday appeared first on The Motley Fool Australia.

More reading

• 3 ASX growth shares named as buys
• ASX 200 flat, Select Harvest jumps, Nearmap soars
• Ansarda (ASX:AND) share price surges on record quarter
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• Here are 3 ASX 200 shares flying around the markets today

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Exchange traded funds (ETFs) can be a fantastic way to balance out your portfolio. This is because ETFs provide investors with easy access to a large and diverse group of shares that you wouldn’t normally have access to.

With that in mind, I have picked out two ETFs that are popular with investors right now. Here’s what you need to know about them:

BetaShares Global Cybersecurity ETF (ASX: HACK)

The first ASX ETF to look at is the BetaShares Global Cybersecurity ETF. This increasingly popular ETF gives investors exposure to the leading companies in the global cybersecurity sector.

Included in the fund are a number of global cybersecurity giants and emerging players that appear well-positioned to benefit from the increasing demand for cybersecurity services. Among the companies you’ll be buying a piece of are Accenture, Cisco, Cloudflare, Crowdstrike, Okta, and Splunk.

In respect to CrowdStrike, it is a provider of incident response and forensic analysis services via its Falcon platform. CrowdStrike’s services are designed to help businesses understand whether a breach has occurred. It then allows the user to respond and recover from a breach with speed and precision to remediate the threat.

As for Okta, it provides businesses with workforce identity solutions. This ensures that information is only accessed by those that are meant to have it. Management is positive on its growth prospects and is guiding to US$4 billion in annual revenue by FY 2026. This implies compound annual growth of at least 35% over the next five years.

VanEck Vectors Video Gaming and eSports ETF (ASX: ESPO)

Another ETF to consider is the VanEck Vectors Video Gaming and eSports ETF. This ETF gives investors exposure to a portfolio of the largest companies involved in video game development, eSports, and gaming related hardware and software globally.

VanEck points out that these companies are well-placed to benefit from the increasing popularity of video games and eSports. Among the companies included in the fund are the likes of Nvidia and game developers Activision Blizzard, Take-Two and Electronic Arts.

Take-Two is the company behind the Grand Theft Auto and Red Dead franchises. Whereas Electronic Arts is the company that makes the FIFA and Madden NFL series and Activision Blizzard is behind the Call of Duty series.

As for Nvidia, it is the graphics processing unit (GPU) developer that sparked the growth of the PC gaming market in 1999. Since then, its GPU deep learning ignited modern artificial intelligence, which is the next era of computing. The company’s technology is also used by cryptocurrency miners, giving investors indirect exposure to this growing market.

The post 2 quality ETFs that could give your portfolio a big boost appeared first on The Motley Fool Australia.

More reading

• 3 excellent ETFs for ASX investors
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• 3 quality ETFs for ASX investors in July

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended BETA CYBER ETF UNITS. The Motley Fool Australia owns shares of and has recommended BETA CYBER ETF UNITS. The Motley Fool Australia has recommended VanEck Vectors ETF Trust – VanEck Vectors Video Gaming and eSports ETF. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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If you’re wanting to build your wealth over the long term, then you’ll no doubt be on the lookout for some quality buy and hold options.

If that is the case, then you might want to look at the ASX shares listed below. Here’s why they could be excellent buy and hold investments:

Domino’s Pizza Enterprises Ltd (ASX: DMP)

The first ASX share to consider as a buy and hold investment is this pizza chain operator. Thanks to a combination of same store sales growth, acquisitions, and its international expansion, Domino’s has been a very strong performer over the last decade.

The good news is that these same factors are expected to underpin further strong growth over the next decade. In fact, management is aiming to double its store network during this time in existing markets. It has also just boosted its addressable market by acquiring the Domino’s Taiwan business. And with the company still having significant balance sheet capacity, its acquisitions may not stop there.

One broker that remains positive on its outlook is Bell Potter. It currently has a buy rating and $122.00 price target on its shares.

Xero Limited (ASX: XRO)

Another ASX share to consider as a buy and hold option is Xero. It is a provider of a cloud-based business and accounting solution. Xero’s platform is used by small to medium sized businesses around the world to handle a full suite of tasks. This includes accounting, payroll, and invoicing.

Xero has been bolstering its offering with bolt-on acquisitions. These acquisitions are strengthening its ecosystem of apps that work within its platform.

This is being seen as a key driver of growth in the future. For example, Goldman Sachs believes that the company has a massive opportunity to monetise the ecosystem and drive strong revenue growth over the coming decades.

In light of this, the broker has currently got a buy rating and $151.00 price target on its shares.

The post 2 excellent ASX shares that could be buy and hold options appeared first on The Motley Fool Australia.

More reading

• Ansarda (ASX:AND) share price surges on record quarter
• How did the S&P/ASX All Technologies Index (XTX) perform in FY21?
• ASX 200 Weekly Wrap: COVID wobbles ASX as shares retreat
• 5 things to watch on the ASX 200 on Monday
• Here’s how some of the top ASX SaaS shares performed in FY21

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Xero. The Motley Fool Australia owns shares of and has recommended Xero. The Motley Fool Australia has recommended Dominos Pizza Enterprises Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Are you wanting to boost your portfolio with some blue chip ASX 200 shares in July?

Then you might want to look at the blue chips listed below. Here’s what you need to know about them:

Goodman Group (ASX: GMG)

The first blue chip ASX 200 share to look at is Goodman Group. It is a leading integrated commercial and industrial property company with a portfolio of warehouses, large scale logistics facilities, and business and office parks.

Goodman Group has been growing at a solid rate for years thanks to the success of its own+develop+manage model. This model sees Goodman own high quality properties, develop properties in key locations to meet customer needs, and manage the premium real estate it invests in globally.

When it comes to choosing properties, Goodman focuses on investing in and developing high quality industrial properties in strategic locations, close to large urban populations, and in and around major gateway cities globally. It notes that this is where demand is strong and transformational changes are driving significant opportunities for its business.

FY 2021 has been another year of growth for Goodman. Management recently revealed that it expects to achieve its guidance for operating profit of $1.2 billion and earnings per share growth of 12%.

Morgan Stanley is a fan of Goodman. It currently has a buy rating and $23.00 price target on its shares.

ResMed Inc. (ASX: RMD)

Another blue chip ASX 200 share to look at is ResMed. It is a medical device company with a focus on the sleep treatment market.

The sleep treatment market certainly is a great place to be. Management estimates that there are over 1 billion people globally that suffer from sleep apnoea. And with the vast majority of these people yet to be diagnosed, this gives ResMed a significant market opportunity to grow into.

And thanks to its industry-leading products, wide distribution network, and successful acquisitions, ResMed appears well-placed to capture this growing demand over the next decade.

In the near term, ResMed’s growth looks set to be boosted by the upcoming launch of its new CPAP device, AirSense 11, and a significant product recall by a leading rival.

Macquarie is positive on the company and current has an outperform rating and $34.85 price target on its shares.

The post 2 ASX 200 blue chip shares tipped as buys appeared first on The Motley Fool Australia.

More reading

• Are the 10 highest paid ASX 200 CEOs worth their paypackets?
• The 5 best ASX 200 healthcare shares of financial year 2021
• 3 ASX 200 shares named as buys
• 3 blue chip ASX 200 shares named as buys
• Leading broker names 3 blue chip ASX shares to buy

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended ResMed. The Motley Fool Australia has recommended ResMed Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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If you’re looking for some growth shares to add to your portfolio, then you might want to look at the ones below.

Here’s what you need to know about these highly rated ASX growth shares:

Afterpay Ltd (ASX: APT)

The first ASX growth to look at is Afterpay. This leading buy now pay later (BNPL) focused payments company has been tipped to continue growing at a strong rate for many years to come. This is being underpinned by the increasing popularity of the BNPL payment method as consumers turn away from credit cards. In addition to this, the company’s global expansion and the launch of new offerings such as Afterpay Money and pay anywhere are supporting its growth. The latter will soon allow US consumers to shop with some of the largest retailers in the world such as Amazon. These retailers collectively account for almost 50% of ecommerce volume in the US. Morgan Stanley remains positive on the Afterpay’s outlook. The broker has an overweight rating and $145.00 price target on its shares.

Temple & Webster Group Ltd (ASX: TPW)

Another ASX growth share to look at is this leading online furniture and homewares retailer. Temple & Webster has been tipped as a company that could grow strongly over the coming years thanks to its strong market position and the shift to online shopping. And while COVID-19 has been a big boost to sales, it is worth noting that online furniture shopping is still in its infancy compared to other retail categories. This gives Temple & Webster a significant market opportunity to grow into over the next decade. Morgan Stanley is also a fan of Temple & Webster. It currently has an overweight rating and $15.00 price target on its shares.

Whispir Limited (ASX: WSP)

A final ASX growth share to look at is Whispir. It is a software as a service (SaaS) communications workflow platform provider used by 750+ businesses globally to automate interactions between them, their people, and their customers. Management notes that its customers use Whispir’s software to create interactive, multi-party and omnichannel communications from templates, solving simple to complex communications workflow tasks. Demand has been growing strongly for its platform. This has underpinned stellar recurring revenue growth in recent years. Ord Minnett is bullish on Whispir. It currently has a buy rating and $4.25 price target on its shares.

The post 3 ASX growth shares named as buys appeared first on The Motley Fool Australia.

More reading

• Ansarda (ASX:AND) share price surges on record quarter
• How did the S&P/ASX All Technologies Index (XTX) perform in FY21?
• Up 12% in a month, is there more to come from the Afterpay (ASX:APT) share price?
• What this leading broker thinks about Afterpay (ASX:APT) and Zip (ASX:Z1P) shares in July
• These 3 ASX 20 shares are up more than 60% in a year

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO, Temple & Webster Group Ltd, and Whispir Ltd. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO. The Motley Fool Australia has recommended Temple & Webster Group Ltd and Whispir Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Woolworths Group Ltd (ASX: WOW) share price is in the green. By close of trade today, shares in the retailer were selling for $38.21 – up 0.53%. For context, the S&P/ASX 200 Index (ASX: XJO) ended the day 0.02% lower.

The positive price rise comes after The Australian reported Woolworths will be launching its first ‘dark store’.

Let’s take a closer look at the news.

Woolworths’ new dark store

Woolworths has submitted plans to open a dark store in the southern suburbs of Sydney. A dark store is only for the fulfilment of online orders – including pick-up for the first time, and delivery.

The Australian says this facility is just one of several similar sites that will be developed as the company focuses on online and suburban sales.

“To keep pace with customer expectations, we’re planning to open a new customer fulfilment centre in (southern Sydney) to offer more delivery windows and an even more reliable service to our online shoppers,” Woolworths director of e-commerce Annette Karatoni told the paper.

E-commerce sales increased 63% across the group in the third quarter of FY21 to $1.3 billion. Its Australian food division saw e-commerce revenue increase 90.5% to $878 million. E-commerce sales for New Zealand food, Big W, and the now demerged Endeavour Group Ltd (ASX: EDV) increased 37.9%, 34.8%, and 23.8% respectively.

Investors don’t seem to mind this expansion into digital sales, judging by the 17.4% rise in the Woolworths share price over the past year.

The company has 3, soon to be 4, of what it calls “micro-fulfilment centres” that act in a similar capacity, but for delivery orders only. Woolworths also said it would build an automated customer fulfilment centre in Auburn in Sydney’s western suburbs.

Woolworths share price snapshot

Year to date, Woolworths shares have increased around 12.7%. That includes the 15% fall in value the company saw on the day of its demerger with Endeavour Group.

The current Woolworths share price is only 70 cents lower than its 52-week record of $38.91.

Woolworths has a market capitalisation of around $48 billion.

The post Woolworths (ASX: WOW) share price up amid new ‘dark store’ plans appeared first on The Motley Fool Australia.

More reading

• Are the 10 highest paid ASX 200 CEOs worth their paypackets?
• ASX 200 Weekly Wrap: COVID wobbles ASX as shares retreat
• Where to next for the Woolworths (ASX:WOW) share price?
• Here’s what leading brokers say about the Woolworths (ASX:WOW) share price in July
• Woolworths (ASX:WOW) share price dips as experts predict growth

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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.

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The Cimic Group Ltd (ASX: CIM) share price ended the day higher following a media release by its 50% owned investment partnership, Ventia.

At the closing bell, the engineering group’s shares finished 1.02% higher to $19.79.

What did Ventia announce?

Cimic shares advanced throughout the day after investors appeared pleased with the company’s latest news.

In today’s update, Cimic advised that Ventia’s telecommunications business, Visionstream Australia, has been awarded a significant new contract with NBN Co.

The deal is estimated to generate roughly $400 million in revenue to Ventia over a 2.5-year term. This is subject to work order and volumes, however.

The N2P Evolution contract will support NBN Co’s plans to extend its fibre technology into communities around Australia. It hopes that up to 75% of homes and businesses will be on the fixed line network by 2023.

NBN Co is continuing its rollout of fibre, in which eligible premises currently connected via Fibre-to-the-Node technology will progressively gain access to Fibre-to-the-Premises (FTTP) technology.

Works under the new contract are scheduled to commence immediately.

Ventia Group CEO, Dean Banks commented:

We are proud to be extending our long-term relationship with NBN Co. We will be using our knowledge of the nbn network – combined with our extensive experience managing other large-scale telecommunication network build and maintenance programs – to continue supporting the delivery of improved digital connectivity for our communities.

Ventia group executive of telecommunications, Tim Harwood went on to add:

We will deliver these works across Queensland, New South Wales and Victoria utilising our client-focused, innovative and sustainable approach.

We were instrumental in the delivery of the initial nbn build program and the subsequent maintenance of the nbn network over the past decade, and we are looking forward to delivering this new program of work.

About the Cimic share price

Since hitting a 52-week low of $16.86 in April, the Cimic share price has rebounded by more than 15%. However, Cimic shares are still trading at similar levels to those seen in mid-February, when their value nosedived 16% on the group’s full-year results.

Cimic has a market capitalisation of around $6.1 billion, with approximately 311 million shares outstanding. The company ranks 85th on the ASX in terms of market value.

The post Cimic (ASX:CIM) share price climbs higher on significant contract news appeared first on The Motley Fool Australia.

More reading

• Why the Cimic (ASX:CIM) share price is in positive territory today
• Why the Cimic (ASX:CIM) share price is edging higher today

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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.

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The S&P/ASX 200 Index (ASX: XJO) was flat today, falling by 0.02% to 7,332 points.

Here are some of the highlights from the ASX:

Select Harvests Limited (ASX: SHV)

The Select Harvests share price soared around 16% today after the nut business gave investors an update about its crops and the market.

Select Harvests said that its 2021 harvest has been completed and 100% of the 2021 crop has been delivered to the Carina West processing facility.

With over 60% of the crop processed, it estimates that the crop volume, including from the acquisition of the Piangil orchard, will be approximately 28,250 MT, up from the 2020 crop volume of 23,250 MT.

Management said that processing productivity continues to improve, with the prior year investments in technology delivering efficiency gains and further enhancing post farm gate quality.

Select Harvests also said that the almond industry has experienced significant growth in global demand across all markets, particularly in the traditional markets of India, Europe and China.

Australian almond exports year on year are up 54%, with the South and Central Asian (India) market up 200%, Europe up 69% and the North East Asian (China) market up 9% during the period.

Continued strong shipment numbers and the worsening drought situation in California have led to an appreciation in almond pricing of between 5% and 10% over the last six months.

The business said that 60% of its 2021 crop is committed at prices in the range of A$5.90 per kilo and A$6.40 per kilo. However, the un-committed portion of the crop is the lower value grades.

The development of Select Harvests’ 2022 crop is “progressing well” with good tree health, according to management.

Volumes are benefiting as younger orchards reach maturity. Water supply and pricing is “much improved”.

Polynovo Ltd (ASX: PNV)

Polynovo also gave an update. It said that notwithstanding limited access to US hospitals and surgeons due to COVID, it’s seeing increasing revenue momentum in the US and all other major markets. More than 50% of hospitals are now re-engaging for business.

NovoSorb BTM is a dermal scaffold for the regeneration of the dermis when lost through extensive surgery or burn.

The ASX 200 company said that revenue growth of around 34% is a good indicator of FY21 BTM financial performance and recent business fundamentals have significantly improved.

US BTM revenue in US dollar terms has grown 49% in FY21 over FY20.

The US FY21 fourth quarter BTM revenue was a record US$4.9 million, compared to US$3.3 million in the fourth quarter of FY20.

It saw record monthly BTM revenue of A$3.3 million in June 2021.

FY21 distribution revenue growth was 53% with “strong” increases in Germany, Switzerland and Australia. There has also been further sales in South Africa and India. Finland, Italy and Taiwan has seen “good” first sales in Finland, Italy and Taiwan.

The FY21 Australia BTM revenue has grown 25% despite challenging COVID lockdowns.

The Polynovo share price rose by 1%. 

Nearmap Ltd (ASX: NEA)

The Nearmap share price went up around 14% today after giving an update.

The ASX 200 share said that the annualised contract value is expected to close FY21 at $133.8 million in constant currency terms, exceeding recently upgraded guidance of $128 million to $132 million.

The ACV portfolio in North America saw 54% growth to US$44.5 million. The company said this validated its refined go-to-market strategy. The Australian and New Zealand ACV saw growth of 7% to A$69.1 million.

The HyperCamera3 prototype was tested in flight. Management said this represented a significant technological breakthrough. The commercial roll-out remains on track for FY22.

The post ASX 200 flat, Select Harvest jumps, Nearmap soars appeared first on The Motley Fool Australia.

More reading

• Ansarda (ASX:AND) share price surges on record quarter
• Here are 3 ASX 200 shares flying around the markets today
• ASX 200 midday update: Nearmap rockets, Incitec Pivot jumps
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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Nearmap Ltd. and POLYNOVO FPO. The Motley Fool Australia owns shares of and has recommended Nearmap Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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