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The American Pacific Borates Ltd (ASX: ABR) share price is pushing higher today following two key appointments by the company.

At the time of writing, the mineral exploration company’s shares are swapping hands for $1.735, up 3.58%.

American Pacific Borates strengthens its senior leadership team

According to its announcement, American Pacific Borates advised it has appointed Tyson Hall as its chief operating officer.

Hall’s role will initially focus on managing value engineering activities to support the development of the Fort Cady Integrated Boron Facility. However, this will be expanded to managing construction and operations of the plant and becoming the link between operations and the specialty boron and advanced materials’ business. 

Hall brings substantial operating experience to the company having previously been responsible for the financial side of a business unit within Pilgrim’s Pride Corporation.

He also brings broad experience in manufacturing and specialty chemicals. Hall holds a Bachelor of Science degree in Chemical Engineering and a Master of Business Administration from the University of Arkansas.

In addition, Chance Pipitone has been selected as head of corporate development and investor relations.

Pipitone’s key responsibilities will include leading the corporate finance and strategy function, managing investor relations, and strategic planning activities.

During his past years, Pipitone served as a portfolio manager and senior investment professional at a number of firms. These include Luminus Management, Salient Partners, and Brookfield Asset Management (formerly Center Coast Capital).

Pipitone holds a Bachelor of Science degree from The Wharton School, University of Pennsylvania.

American Pacific Borates stated that both positions will be effective from the second half of September.

About the American Pacific Borates share price

Over the past 12 months, American Pacific Borates shares have gained around 118% and, year-to-date, are up 15%. The company’s share price reached an all-time high of $2.54 in late April.

American Pacific Borates has a market capitalisation of roughly $676 million, with approximately 387 million shares on issue.

The post Why the American Pacific Borates (ASX:ABR) share price is outperforming today appeared first on The Motley Fool Australia.

More reading

• American Pacific Borates (ASX:ABR) share price leaps 18% on lithium update

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 Origin Energy Ltd (ASX: ORG) share price is in the green despite no news having been released by the company.

However, the S&P/ASX 200 Energy Index (ASX: XEJ) is leading the market today, having gained a whopping 3.84%.

The energy sector’s gains are particularly impressive given the S&P/ASX 200 Index (ASX: XJO) is currently 0.24% lower than its previous close, having fallen 16.4 points today.

At the time of writing, the Origin Energy share price is $4.55, 2.48% higher than its previous close.

Let’s take a closer look at what might be sending the energy producer and retailer’s share price higher on Tuesday.

Origin Energy’s having a great day on the ASX

The Origin Energy share price is taking off today, as are those of nearly all participants of the ASX 200 energy sector.

Right now, the index is being led by the Beach Energy Ltd (ASX: BPT) share price, which has gained 6.7% today.

The share prices of Woodside Petroleum Limited (ASX: WPL), Oil Search Ltd (ASX: OSH), and Santos Ltd (ASX: STO) are all gaining too. They’re up 5.9%, 4.5%, and 4% respectively.

The Origin Energy share price’s 2.4% gain sees it comfortably positioned as the sector’s fifth-best performer on Tuesday.

The ASX 200 energy sector’s sea of green might be being driven by another sea of green – that of energy commodities.

Right now, the price of West Texas Intermediate oil is up 0.6%. At the same time, that of Brent Crude oil is up 0.5%.

The price of natural gas is also boosting higher today, having gained 0.3% at the time of writing.

Origin Energy share price snapshot

Today’s gains haven’t quite been enough to drag Origin Energy’s stock out of its slump.

Right now, the company’s share price is 5% lower than it was at the start of 2021. It is also 3% lower than it was this time last year.

The post Why the Origin Energy (ASX:ORG) share price is climbing on Tuesday appeared first on The Motley Fool Australia.

More reading

• Why is the ASX share market down today?
• These ASX 200 shares are trading ex-dividend today
• These ASX 200 dividend shares slashed their payouts in August
• How does the AGL (ASX:AGL) earnings result compare to Origin?
• Here are the top 10 ASX 200 shares today

Motley Fool contributor Brooke Cooper 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 Splitit Payments Ltd (ASX: SPT) share price has struggled over the last few weeks and has lagged the major benchmark indices.

Whereas the S&P/ASX 200 Index (ASX: XJO) has slipped 3% into the red over the last month, shares in the payments services company have fallen 32% in the same time.

Let’s dive in a little deeper to understand why.

What’s been in front of the Splitit share price lately?

One interesting takeout for investors is that there appears to be a peculiar mix in the dynamics between the company’s fundamental performance and the performance of its share price.

For instance, Splitit recognised record half-year results in its most recent earnings report last month. Merchant sales volume (MSV) grew 94% year on year. At the same time, gross revenue increased by about 80% to US$5.5 million.

Keep in mind that Splitit already recognised a 300% increase in revenue in its FY20 earnings report earlier in the year.

The total amount of shopping users also jumped to 566,000 in the six months to June. That’s around 134,000 new shoppers added to its user base in half a year. That’s not to mention a fairly robust balance sheet with US$66 million in cash and another US$150 million liquidity available.

Yet, despite these apparent strong points in revenue growth, the market has seen things differently, perhaps chasing companies turning and/or growing profits instead.

For instance, the Splitit share price was scalded in February after the company released its FY20 earnings. Similarly, it was again on the back of its half-year results. Both times its net losses widened year over year despite significant revenue growth.

Back in February, it recognised a bigger loss than the year prior of around US$4 million. However, in August, the difference was US$9,794,000 – a 109% increase on the year prior.

They say history doesn’t repeat itself – but it rhymes. Certainly, we can see the market has reacted to Splitit’s loss for each period in a similar rhyming fashion. Each time its share price has been punished.

And, finally, let’s not forget the S&P/ASX All Technology Index is also down 1.3% over the last month, indicating broader weakness across the ASX technology sector.

The sum of these factors appears to be weighing down the Splitit share price over the last month.

Splitit share price snapshot

The Splitit Payments share price has struggled this year to date, posting a loss of 70% since January 1. This extends the loss over the last 12 months to 74%.

Both of these results have lagged the broad index’s return of around 25% over the past year.

The post Why the Splitit (ASX:SPT) share price has tumbled 32% in a month appeared first on The Motley Fool Australia.

More reading

• How have ASX BNPL shares performed during the August 2021 earnings season?
• Splitit (ASX:SPT) share slips on record half-year result and CEO transition
• Why did the Splitit (ASX:SPT) share price just hit its 52-week low?

The author Zach Bristow has no positions 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 BHP Group Ltd (ASX: BHP) share price is in the green this afternoon following the release of the company’s climate transition action plan.

The plan has been released alongside notice of BHP’s annual general meeting (AGM). The AGM will see shareholders voting on a movement that could see the iron ore giant re-evaluating its links with lobbyists advocating against climate targets. BHP’s upcoming AGM is scheduled for 9 November.

Right now, the BHP share price is $41.76, 0.68% higher than its previous close.

Let’s take a closer look at the news driving the BHP share price on Tuesday.

BHP’s climate transition action plan

The BHP share price is gaining following the release of the company’s climate action plan.

BHP’s climate action plan for FY21 outlines the work the company has done towards becoming carbon neutral. It also outlines its plan to reduce its environmental impact in FY22 and into the future.

In FY21, BHP’s assets created 16.2 million tons of carbon dioxide equivalent of scope 1 and scope 2 emissions. That’s around 2% higher than those of FY20.  

Scope 1 emissions come directly from a company’s business, whereas scope 2 are those created to make the electricity or energy it uses.

Additionally, the company’s scope 3 emissions for FY21 – those created through its value chain – totalled 402.5 million tons of carbon dioxide equivalent.

Of those, 300.5 million tonnes came from steelmaking. BHP’s petroleum business saw 38.1 million tons of scope 3 carbon dioxide equivalent created in FY21.

The company reiterated its belief that decarbonising the steelmaking industry will likely be a slow and fragmented effort. BHP said some challenges steelmakers will face when trying to lessen their carbon footprint will be finding lower carbon raw material feedstock, lack of policy support, and demand for affordable steel.

However, BHP believes its products are necessities in the race to decarbonate and it plans to minimise its carbon emissions while continuing to produce needed commodities.

Short-term goals

The company’s short-term goals include maintaining its operational greenhouse gas (GHG) emissions at or below its FY17 levels in FY22, while still growing its business.

The company also wants to integrate one or more Paris-aligned scenarios – including the 1.5°C pathway – into its strategy beginning in FY22.

Of course, it also plans to demerge its oil and gas assets in FY22, with Woodside Petroleum Limited (ASX: WPL) set to take over the business. The BHP share price fell 7% on the back of its demerger plan, announced in August.

Medium-term goals

In the medium term, BHP plans to reduce its operational GHG emissions by at least 30% of FY20 levels by FY30. To do so, it will support industries developing technology and pathways to reduce emissions produced in steelmaking and reduce the emissions produced from shipping BHP’s products.

BHP is on track to power its Nickel West Kwinana Refinery, Mt Keith and Leinster operations, Queensland Coal mines, and its Chilean copper assets with renewable power by the middle of the decade.

Long-term goals

Then, in the long term, BHP wants to reach net-zero operational GHG emissions by 2050.

However, it recognises the challenges faced by its customers’ processing of its products. BHP will continue to partner with its customers to accelerate their transition to carbon-neutral steelmaking.

The company believes the global steelmaking industry might reach net-zero emissions by 2050.

It will also work to make its future-facing commodities, such as copper, nickel, and potash carbon neutral.

BHP share price snapshot

It has been a tough few weeks on the ASX for the BHP share price, which is down 20% in the past month.

BHP shares are also down by around 3% year to date. However, they have gained around 12% over the past 12 months.

The post BHP (ASX:BHP) share price lifts following climate action plan release appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Tuesday
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• How have ASX resources shares performed during the August 2021 earnings season?
• September is not being kind to the BHP (ASX:BHP) share price
• Brokers name 3 ASX shares to buy today

Motley Fool contributor Brooke Cooper 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 AGL Energy Limited (ASX: AGL) share price is having an exceptional day on the ASX boards so far this Tuesday. At the time of writing, the AGL share price is up a very healthy 5.11% to $6.38 a share. This would be a welcome turnaround for investors, who have had to watch as AGL sunk to multi-decade lows over the past few weeks and months.

Indeed, it was only yesterday that AGL sunk to yet another low of $5.97 a share. To put that in context, the last time the AGL share price had a ‘5’ in front of it, it was way back in 2002.

So there would be more than a few shareholders who would be very pleased with what today’s market has thrown up.

The AGL share price, although embattled for a few years now, has been struggling especially hard in 2021 so far. Even after today’s upward move, the company is still down a nasty 47.5% year to date. Over the past 12 months, AGL shares have lost close to 57% of their value.

A series of earnings downgrades, a disappointing FY21 earnings report, sluggish national electricity market, and a poorly-received demerger plan are probably all contributing factors here.

So why are AGL shares shooting the roof today then?

Why is the AGL share price up 5% this Tuesday?

Well, we did get some news out of the company yesterday that may be having some spillover effects today. As we reported at the time, AGL announced that it had signed a new sales arrangement for gas with the ASX energy company Cooper Energy Ltd. (ASX: COE).

Cooper is now contracted to sell “all developed and uncontracted volumes” of gas in its Otway Basin project to AGL at a price range of $6 to $8 per gigajoule. The contract will be in place until December 2030, and will result in the supply of 6 petajoules worth of gas supply per year.

Yesterday, this news seemed to do nothing for the AGL share price. But today, it’s a new story.

It’s possible that some investors have changed their minds on the news of this deal.

It’s also possible that the lows we saw yesterday were finally enough for some value investors to step in and pick up some shares for multi-decade low pricing.

Whatever the reason, today is certainly a happier day for AGL investors than what they would have become used to in recent times.

At the current AGL share price of $6.35, the company has a market capitalisation of $3.78 billion, and a dividend yield of 10.22%.

The post Here’s why the AGL (ASX:AGL) share price is leaping 5% appeared first on The Motley Fool Australia.

More reading

• AGL (ASX:AGL) share price slumps despite new gas agreement
• How have ASX energy shares performed during the August 2021 earnings season?
• September hasn’t been a great month so far for the AGL (ASX:AGL) share price
• AGL (ASX:AGL) share price falls amid fresh climate credentials pressure
• The AGL (ASX:AGL) share price is down 16% in a month. Here’s why

Motley Fool contributor Sebastian Bowen 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 300 Index (ASX: XKO) is edging lower today, erasing yesterday’s gains.

At the time of writing, the ASX 300 is down 0.13% to 7,418 points.

Here are some of the top movers on the ASX 300 today.

Beach Energy Ltd (ASX: BPT)

The Beach Energy share price is on the move, up 6.73% to $1.11 despite no new company announcements.

The energy producer has seen its shares surges today as the spot price of oil strongly rebounded. The higher commodity price for West Texas Intermediate (WTI) translates to bumper revenues for the company.

Woodside Petroleum Ltd (ASX: WPL)

Following suit is the Woodside share price, up 6.02% to $20.77.

The oil and gas company is also benefitting from the increase in oil prices. It’s worth noting that a few days ago, Citi reduced its outlook on Woodside shares by 3.5% to $20.80. This is in line with the company’s share price — today.

Liontown Resources Ltd (ASX: LTR)

Making headlines again is the Liontown Resource share price, up 5.52% to $1.435. Although during late morning trade, its shares hit a record high of $1.45 apiece.

The emerging lithium producer is set to separate its non-lithium assets in the coming weeks. This will allow Liontown Resources to focus on its wholly-owned world-class Kathleen Valley Lithium Project.

And the biggest losers?

Brambles Ltd (ASX: BXB)

Heading south is the Brambles share price, down a sizeable 10.77% to $10.94.

The logistics solutions company released its investor day presentation yesterday, disappointing investor expectations for FY22.

Management advised of underlying profit growth of between 1% to 2% for the current financial year. While this is a weak result, the company noted that FY22 is a year of investment. It expects high single-digit growth between FY23 to FY25.

Australian Strategic Materials Ltd (ASX: ASM)

Also in decline is the Australian Strategic Materials share price, down 5.84% to $10.31.

The rare earth metals company hasn’t released any market-sensitive news to the ASX since its quarterly report in late July. However, its shares have tumbled from reaching an all-time high of $14.00 last month.

Since this time last year, Australian Strategic Materials shares have gained 428%, with year-to-date up 64%.

The post Which ASX 300 shares are the biggest winners and losers today? appeared first on The Motley Fool Australia.

More reading

• ASX 200 energy shares are leading the market on Tuesday
• Brambles (ASX:BXB) share price slides 11% after investor day presentation
• ASX 200 (ASX:XJO) midday update: Westpac asset sale blocked, Zip crypto update
• 5 things to watch on the ASX 200 on Tuesday
• Why the Woodside (ASX:WPL) share price is gaining today

Motley Fool contributor Aaron Teboneras owns shares of Woodside Petroleum Ltd. 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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ASX 200 energy shares are a standout performer on Tuesday despite the S&P/ASX 200 Index (ASX: XJO) trading 0.09% lower at 7,418.50.

This comes after OPEC’s closely watched oil market forecast was released on Monday, where it raised its 2022 forecasts.

ASX 200 energy shares surge on bullish OPEC outlook

ASX 200 Oil producers are experiencing broad-based buying on Tuesday after OPEC said it expects oil demand to exceed pre-pandemic levels in 2022.

OPEC hiked its oil forecasts to 4.15 million barrels a day (b/d) from 3.28 million (b/d) a month ago. The report expects oil demand to “robustly grow”, saying:

Revisions were driven by both the OECD and non-OECD, as the recovery in various fuels is expected to be stronger than anticipated and further supported by a steady economic outlook in all regions. Oil demand in 2022 is now projected to reach 100.8 mb/d, exceeding prepandemic levels.

OPEC called for its participating allies to step up production in response to the improving landscape.

OPEC and non-OPEC participating countries in the Declaration of Cooperation (DoC) have agreed to adjust upward their overall production by 0.4 mb/d on a monthly basis starting August 2021. Several other non-OPEC producers also raised their production in July.

However, there might be some short-term pain for oil markets following the uncertainties caused by the delta variant.

… the increased risk of COVID-19 cases primarily fuelled by the Delta variant is clouding oil demand prospects going into the final quarter of the year, resulting in downward adjustments to 4Q21 estimates. As a result, 2H21 oil demand has been adjusted slightly lower, partially delaying the oil demand recovery into 1H22. Global oil demand in 2021 is now estimated to average 96.7 mb/d.

Major ASX 200 oil shares including Woodside Petroleum Limited (ASX: WPL), Oil Search Ltd (ASX: OSH) and Santos Ltd (ASX: STO) are rallying strongly, up 6.28%, 4.28% and 4.5% respectively.

The post ASX 200 energy shares are leading the market on Tuesday appeared first on The Motley Fool Australia.

More reading

• Which ASX 300 shares are the biggest winners and losers today?
• Santos (ASX:STO) share price rallies 5% on bullish OPEC oil outlook
• 5 things to watch on the ASX 200 on Tuesday
• Why the Woodside (ASX:WPL) share price is gaining today
• ASX 200 energy and materials shares are leading the market on Monday

Motley Fool contributor Kerry Sun 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 NEXTDC Ltd (ASX: NXT) share price is out of form on Tuesday.

In afternoon trade, the data centre operator’s shares are down 1% to $13.30.

This means the NEXTDC share price is down 5% in the space of a week.

Is the NEXTDC share price in the buy zone?

One top broker that believes the NEXTDC share price is good value is Goldman Sachs.

According to a recent note, the broker has a conviction buy rating and $14.40 price target on its shares.

Based on the latest NEXTDC share price, this implies potential upside of 8.3% over the next 12 months.

What did the broker say?

Goldman Sachs was pleased with the company’s performance in FY 2021. And while NEXTDC’s sales fell a touch short of the broker’s forecasts, its earnings were ahead of expectations.

It commented: “NXT reported underlying FY21 Sales/EBITDA/NPAT that was -1.5%/+1.4%/+$1mn vs. GSe, with revenue at the lower end of guidance and EBITDA above the top end, with the revenue weakness attributable to lower zero margin power consumption of $4mn. 2H21 contracted MW of +4.5MW was in line with GSe +4.4MW. Cash conversion was strong, with capex of A$301mn well below GSe & guidance, attributable to covid delays.”

The broker was also pleased with its guidance for FY 2022. NEXTDC is expecting revenue growth of 16% to 20% and EBITDA growth of 19% to 23%. Goldman notes that this was largely in line with its forecasts after adjusting for power pricing.

Looking further ahead, its analysts appear confident this strong form can continue, which supports the buy rating it has on the NEXTDC share price.

Goldman is forecasting an EBITDA compound annual growth rate (CAGR) of 20% through to FY 2024. At that point, the broker expects the company’s EBITDA to have grown to $232 million. This compares very favourably to FY 2021’s EBITDA of $133.9 million.

In light of this, the broker feels NEXTDC represents “the most compelling growth story in our coverage.”

The post The NEXTDC (ASX:NXT) share price is down 5% in a week. Is it a buy? appeared first on The Motley Fool Australia.

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• 2 outstanding ASX growth shares named as buys
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• Brokers name 3 ASX shares to buy today
• Top brokers name 3 ASX shares to buy today

Motley Fool contributor James Mickleboro owns shares of NEXTDC Limited. 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 Brambles Ltd (ASX: BXB) share price has slipped firmly into the red after the company held the first day of its investor briefing today.

Shares in the logistics company are now changing hands at $10.88 each, an 11% drop from the market open.

Let’s investigate further.

What’s up with the Brambles share price today?

In the first of two investor briefing days, Brambles executives were to give a run-through of the company’s strategic and financial overview. They were also addressing factors such as digitisation and sustainability.

However, investors appear to have been chasing more from Brambles, as evidenced by the market’s reaction to its share price afterwards.

For instance, there is little mention from the company’s CEO or CFO about specific numbers in terms of guidance and projections throughout the presentation.

Instead, both executives alluded to “high single-digit” growth in revenue and underlying profit in FY22 and FY23. Alas, Brambles sees revenue growth of 5-6% in FY22, whereas free cash flow (FCF) is expected “to be an outflow of US$200 million”.

Brambles points out the strong FCF result in its FY21 earnings actually came from “timing benefits” of US$215 million in FY21. The benefits were associated with a payment. These timing benefits will be reversed in FY22 at the FCF level, according to the presentation.

What’s more, underlying profit growth is forecast at around 1-2% in FY22 — hardly exciting numbers.

There were several other investment highlights during day 1 of Brambles’ investor briefing.

Yet it appears investors are more focused on financial aspects which, some may argue, were rather lacking.

When factoring current growth forecasts into global supply chains and logistics markets – which have suffered significant bottlenecks in 2021 due to COVID-19 – it is understandable investors may be seeking a more visible growth vision from Brambles.

Brambles share price snapshot

The Brambles share price has had a choppy year to date, posting a return of only 3%. This extends its gain over the last 12 months to 3% also.

Both of these results have lagged the S&P/ASX 200 Index (ASX: XJO)’s climb of around 25% over the past year.

The post Brambles (ASX:BXB) share price slides 11% after investor day presentation appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: Westpac asset sale blocked, Zip crypto update
• Dividends galore! 10 ASX shares trading ex-dividend on Wednesday
• 5 things to watch on the ASX 200 on Wednesday
• Brambles (ASX:BXB) share price up on 17% increase to after tax profits

The author Zach Bristow has no positions 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 Laybuy Holdings Ltd (ASX: LBY) share price is flying higher today, reversing the losses of the past 5 days. This is on the back of the buy now, pay later (BNPL) provider releasing an update on its operations in the United Kingdom.

At midday, Laybuy shares are fetching 51.5 cents a share, up 7.3%.

What’s the latest at Laybuy?

Laybuy investors have been injected with a dose of excitement today following its latest announcement. So much so that the company’s daily traded volume on Tuesday has exceeded its average monthly volume.

According to the release, the company launched its affiliate marketing network ahead of schedule in the United Kingdom at the end of August. Since then, the response has surpassed the BNPL player’s expectations.

Specifically, orders processed and gross merchandise volume are more than 5 times greater than the company’s internal month one forecast.

The affiliate network launched in the UK has given shoppers access to hundreds of new retailers. Some of these retailers include Amazon, ASOS, eBay, and Levi’s.

Hailed as the company’s latest product innovation, Laybuy’s affiliate marketing network is geared towards creating a seamless shopping experience. The offering enables an easy 3-step process for shoppers — shop, checkout, and ‘Pay in 6’.

Additionally, shareholders were treated to an impressive growth statistic, boding well for the Laybuy share price. According to the release, the value of goods purchased using Laybuy has increased by more than 500% year on year. From here, the company suspects this growth will accelerate with its launch of the affiliate marketing network.

Management commentary

Commenting on the successful launch, Laybuy UK and Europe General Manager, John Gillan said:

Since launching in the UK in 2019, we have been leading a revolution in how consumers shop and pay, helping shoppers spread the cost of their purchases and free themselves from paying interest.

However, we also know that having Laybuy as a payment option can help merchants increase their sales because it allows consumers to spread their payments and fit more into their budget. We are excited that those on our new platform can now enjoy the benefits of Laybuy.

Laybuy share price snapshot

The Laybuy share price has endured a difficult past year on the ASX. Over the 1-year timeframe, shares in the BNPL company have slumped 65.9%.

It appears investors haven’t been too fond of the widening losses on the bottom line. However, Laybuy’s trailing revenue for the past 12 months has roughly doubled to NZ$32.674 million.

The post Laybuy (ASX:LBY) share price leaps 7% on UK marketing update appeared first on The Motley Fool Australia.

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Motley Fool contributor Mitchell Lawler 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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