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The S&P/ASX 200 Index (ASX: XJO) fell by 1.3% today to 6,794 points.

Reporting season continues to roll on as some companies impress the market.

Here are some of the highlights from today:

Cochlear Limited (ASX: COH)

The Cochlear share price soared by almost 9% today after the healthcare business reported its result for the six months to 31 December 2020.

Cochlear said that its sales revenue fell by 4% to $742.8 million. Underlying earnings before interest and tax (EBIT) declined by 4% to $175.6 million and underlying net profit after tax (NPAT) dropped 6% to $125.3 million.

The statutory net profit after tax (NPAT) jumped 50% to $236.2 million with $59 million of patent litigation-related tax and other benefits, $34.7 million of innovation fund gains and $17.2 million of COVID-19 government assistance. However, the company plans to give back the jobkeeper payments to the government.

The ASX 200 company’s board decided to pay a dividend of $1.15 per share, representing a dividend payout ratio of 60%.

In FY21, Cochlear is expecting to deliver underlying net profit of between $225 million and $245 million. This would represent an increase of between 46% to 59% compared to the prior corresponding period. It’s becoming increasingly confident of the resilience of its hearing implant business.

It also expects to target a dividend payout ratio of 70% of underlying net profit and anticipates returning to the 70% ratio as markets continue to improve.

Inghams Group Ltd (ASX: ING)

Poultry business Inghams was another of today’s top performers in the ASX 200 after reporting its FY21 half-year result.

Inghams reported that its core poultry volume rose by 4% to 224.6kt. Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) went up 4.3% to $218.6 million and underlying NPAT increased by 28.4%.

The poultry business reported that good progress has been achieved in the reduction of frozen poultry inventory arising in FY20 due to COVID-19, down $42.3 million during the half and now close to normal levels.

Inghams’ board decided to declare a fully franked dividend of 7.5 cents per share, which was an increase of 2.7%. This reflected a dividend payout ratio of 74.3% of underlying NPAT.

The CEO and managing director of Inghams, Jim Leighton, said:

These results have been delivered despite the continued impact of COVID-19, ongoing high realised feed prices and the partial closure of Australia’s poultry export channels due to industry biosecurity issues in Victoria. Our strategy is driving performance and delivering improved returns.  

Treasury Wine Estates Ltd (ASX: TWE)

The Treasury Wine Estates share price fell by 6% today, making it one of the worst performers in the ASX 200. It has given up some of the gains made yesterday after it rocketed higher.

Today, it was reported by the Australian Financial Review that Michelle Brampton, who is the managing director of the Treasury Wine Europe, Middle East and Africa (EMEA) business, has resigned and will be leaving in the next few months after TWE announced it was restructuring into new three new business units.

The reason why she reportedly resigned is that despite being a compelling candidate to lead one of the new business units, having held various positions around the company for many years, she was overlooked.

More reading

• Here’s why the Inghams (ASX:ING) share price is on the rise today
• The PWR (ASX:PWH) share price is on fire today, up 6%. Here’s why
• Why the Treasury Wine Estates (ASX:TWE) share price is down 7%
• ASX 200 down 0.6%: Cochlear jumps, Goodman upgrades guidance
• Why Cochlear, Goodman, Lovisa, & Whispir shares are surging higher

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 Cochlear Ltd. The Motley Fool Australia owns shares of and has recommended Treasury Wine Estates Limited. The Motley Fool Australia has recommended Cochlear 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 Ecograf Ltd (ASX: EGR) share price finished today’s session 17.28% lower at 67 cents a share.

With no price-sensitive news out today to explain the sharp nosedive, let’s look at last week’s investor presentation to see what the graphite producer has been up to.

Outlook for Ecograf

Ecograf is focused on building a vertically integrated business to produce high purity graphite for the lithium-ion battery market.

Looking at its latest investor update, the company revealed its plans to finalise arrangements and complete engineering programs with GR Engineering for the construction of a processing facility in Western Australia.

Ecograf also intends to advance works for a second plant site in Europe and to continue to build strategic partnerships with key battery industry participants.

The business is also positioning to undertake the engineering and construction of a containerised pilot plant. This will provide recovered carbon anode material for product qualification processes.

Ecograf advised that it will continue test work with electric vehicle (EV) and battery manufacturers.

Ecograf snapshot

Ecograf claims to be the world’s first purified spherical graphite processing facility outside of China. 

The company notes that demand for spherical graphite is forecast to grow 31.5% per annum over the next decade and reach 1.2 million tonnes per annum by 2030.

Ecograf’s strategy involves expanding graphite production and regionalising manufacturing facilities in Europe, Asia and the US to support increasing demand.

Going forward, Ecograf will pursue ongoing government support for research, innovation and advanced manufacturing programs.

The business believes that its recovery of graphite from recycled batteries using its EcoGraf process will enable the recycling industry to reduce battery waste and use recycled graphite to improve battery lifecycle efficiency.

Over the past year, the Ecograf share price has gained a huge 737%. Year to date, Ecograf shares are up 294%.

More reading

• Why is the Ecograf (ASX:EGR) share price on a wild ride today?
• The Ecograf (ASX:EGR) share price is surging 9%. Here’s why

Motley Fool contributor Gretchen Kennedy 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 MGC Pharmaceuticals Ltd (ASX: MXC) share price zoomed up more than 35% higher today off the back of a positive announcement released to the market yesterday.  

In a strong finish at the close of trade today, the MCG Pharma share price was trading at 12.5 cents, up 31.58%.

What’s fuelling the MGC Pharma share price?

MGC Pharma advised the market yesterday that it had entered a sale and distribution agreement for its anti-inflammatory medicinal cannabis product.

According to the release, MGC has entered an exclusive, 3-year agreement with European nutraceuticals producer Swiss PharmaCan AG (SPC).

The deal will see SPC exclusively sell and distribute MGC’s food supplement ArtemiC product line. In addition, SPC will be responsible for obtaining all relevant permits, approvals, certificates and licences and customs clearances under the distribution deal.

The agreement also includes a minimum wholesale order quantity to MGC of 40,000 units of ArtmiC Rescue per quarter. The initial distribution deal is worth $1.1 million, with SPC taking delivery of 10,000 units of ArtemiC.

MGC Pharma says the agreement will allow the company direct access to large and rapidly growing markets.

ArtemiC completes COVID-19 trial

The distribution agreement with SPC follows MGC’s completion of the Phase 2 clinical trial for ArtemiC Rescue.

In the trial results, ArtemiC Rescue demonstrated the ability to prevent deterioration in patients with COVID-19 and achieve faster clinical improvements.

The trial, conducted on 50 COVID-19 patients in India and Israel, also resulted in reduced symptoms and pain associated with the virus.

The clinically-tested food supplement contains four natural-based ingredients: Artemisinin, Boswellia serrata, curcumin and vitamin C.

How has the MGC Pharma share price responded?

Including today’s price action, the MGC Pharma share price has surged more than 78% since the announcement was released early yesterday.  

Overall, it’s been a significant month for the company, which has seen the MGC Pharma share price surge more than 350% since the start of February.

The company made headlines earlier this month after listing on the London Stock Exchange (LSE).

In addition, MGC Pharma completed a successful capital raise of £6.5 million through an oversubscribed share placement. The company advised that the capital raise proceeds were being used to meet costs associated with clinical trials for its ArtemiC and CannEpil products.

More reading

• Why the MGC Pharma (ASX:MXC) share price is smoking the market today

Motley Fool contributor Nikhil Gangaram 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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Ainsworth Game Technology Limited (ASX: AGI) shares were hitting the jackpot during Friday’s session. By the market’s close, the Ainsworth share price had jumped 15.38% higher to 90 cents. Meanwhile, the S&P/ASX 200 Index slumped 1.32% for the day.

Let’s take a look at what drove the gaming machine developer’s shares higher.

Why the Ainsworth share price was winning today

Ainsworth shares had a stellar end to the week after the company advised it has entered into a new, secured credit facility with United States-based Western Alliance Bancorporation. 

Proceeds from this new, five-year US$35 million facility are being used to pay out the company’s obligations under its prior credit facility with Australia and New Zealand Banking Group Limited (ASX: ANZ).

How has Ainsworth been performing?

On 10 February 2021, Ainsworth announced it expects to report a loss before tax of approximately $14 million for the six months ended 31 December 2020. 

In its preliminary results, however, the company also reported that it expects improved revenue when compared to the prior period. 

Ainsworth reported preliminary revenue of $72 million for the first half.

The company’s North American business continued to show positive signs with revenue in the period of $41 million compared to the $21 million in the previous half and $51 million in the prior corresponding period.

At 31 December 2020, Ainsworth had a cash balance of $24 million resulting in net debt of $15 million. 

The company expects to release its unaudited FY21 first-half results on 25 February 2021 and audited results in March 2021.

Company snapshot

Ainsworth is engaged in the design, production, sale, lease, and servicing of gaming machines, also known as poker machines or ‘pokies’.

Over the past year, the Ainsworth share price has rallied by more than 34%.

Based on the current share price, Ainsworth has a market capitalisation of around $262 million. The company presently has approximately 336.6 million shares outstanding.

More reading

• Brokers name 3 ASX shares to buy right now
• Why the ANZ (ASX:ANZ) share price is storming higher today
• ASX 200 up 0.2%: ANZ and CSL impress, Fortescue declares huge interim dividend
• ANZ (ASX:ANZ) share price rises, Q1 profit surges 54%
• ANZ (ASX:ANZ) share price on watch after $1.8 billion Q1 cash profit

Motley Fool contributor Gretchen Kennedy 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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It’s been over a year now since the coronavirus, aka COVID-19, became an unwanted household name across the world.

In fact, one year ago today (almost), on 20 February 2020, the S&P/ASX 200 Index (ASX: XJO) was still humming along, closing for an all-time high of 7,162 points. In the panicky weeks that followed as the pandemic and lockdowns spread, the ASX 200 plunged more than 36%.

Since bottoming out on 23 March, the index of the top 200 listed Australian companies is up 49%. It’s now only 5% off the record highs from last February.

Part of that resurgence came due to the extraordinary, coordinated efforts of global central banks and developed nations’ governments. Governments have pumped trillions of dollars into economic stimulus packages. And central banks have ramped up their quantitative easing (QE) programs to record levels while slashing interest rates close to or even below zero.

Share markets – and indeed the wider global mood – received another big lift in November. That came with the announcements of numerous effective vaccines against the virus, which has now claimed almost 2.5 million victims. There have been more than 900 deaths in Australia.

With the vaccine rollout about to launch down under, we turn to the Australian Bureau of Statistics (ABS) to gather how many Aussies are planning to get the jab.

What the ABS survey revealed about Australians’ COVID vaccine intentions

According to data released by the ABS today, 73% of Australians agreed or strongly agreed they would get a COVID-19 vaccine if it became available and was recommended for them.

The Household Impacts of COVID-19 Survey was conducted from 11 to 18 December.

Older people and men were more likely than younger Australians and women to strongly agree that they’d get the vaccine. 76% of men agreed compared to 71% of women, while 83% of Aussies over 65 years old agreed compared to 71% in the 18–64 bracket.

If you have a hard time putting COVID-19 out of your mind, the survey also revealed you’re not alone.

The December survey showed that COVID-19 was still prominent in many people’s minds.

According to ABS Head of Household Surveys, David Zago:

92 per cent of Australians thought about COVID-19 at least once in the last week, with over half (52 per cent) reporting they were thinking about COVID-19 at least once a day. The survey reported a further three in five people (59 per cent) actively sought information on COVID-19, and just over one in four (28 per cent) reported feeling overwhelmed because of COVID-19 at least once in the last week.

More respondents felt they personally understood and followed their state or territory’s recommendations and restrictions to help prevent the coronavirus’ spread than other people did.

84% reported their understanding was good or very good, and 95% said they were following them closely.

Regarding their fellow Aussies, 52% said they thought others understood and followed restrictions and 78% believed other people were following recommendations and restrictions closely.

More reading

• ASX retail shares in focus as Aussies spend big in January
• Here’s why the Pilbara Minerals (ASX:PLS) share price is dropping today
• Brokers name 3 ASX shares to buy right now
• Why the OceanaGold (ASX:OGC) share price is slumping 9%
• Why the Fatfish (ASX:FGG) share price is charging 10% higher

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.

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ASX retail shares will be in focus after the Australian Bureau of Statistics (ABS) released its preliminary January retail turnover figures. The data indicates an increase of 10.7% in retail turnover compared to January 2020.

On a month-by-month basis, January notched up a 0.6% increase over December. In contrast, January 2020 retail sales slipped 0.4% from December 2019.

Today’s results show a continued upwards trend following the collapse in retail spending in April last year. Furthermore, it appears retail turnover is stabilising on monthly basis, compared to the erratic swings in early 2020.

Finer details for ASX retail shares

All states reportedly experienced an increase in turnover, except for Queensland. COVID-19 restrictions during the period resulted in a fall of 1.5% for the sunshine state. In particular, household goods, clothing, footwear, and personal accessory retailing were impacted.

By today’s market’s close, both Super Retail Group Ltd (ASX: SUL) and Accent Group Ltd (ASX: AX1) shares were flat, with the former inching slightly lower. Super Retail Group has exposure to footwear through its ownership of Rebel. The company reported its half-year results this week, which showed an acceleration in footwear sales during the half. Accent is expected to report its half-year results on Tuesday next week.

Food retailing fared the best during January, with a 1.8% increase in sales. Both Woolworths Group Ltd (ASX: WOW) and Coles Group Ltd (ASX: COL) shares edged higher today. Coles reported an 8.1% increase in total sales revenue in its recent half-year results. However, management provided a cautious outlook for the second half as this will be in comparison to the panic-buying half experienced last year.

Looking ahead

It will be interesting to see what future retail trade data looks like as we move towards the months most impacted by the pandemic last year. The next retail trade update will be issued by the ABS on 19 March.

It will likely be a tale of two scenarios – food retailing will be held up against one of the strongest periods in its history. Meanwhile, discretionary retailing will be compared to one of its worst. The market will be watching ASX retail shares closely as the information unfolds. 

More reading

• Brokers name 3 ASX shares to buy right now
• The Coles (ASX:COL) share price is down 10% in two days: Time to buy?
• Why Bellevue Gold, Coles, NRW, & Perpetual shares are trading lower today
• Why the Coles (ASX:COL) share price is sinking 6% today
• Why Coles, Netwealth, Pro Medicus, & Zip shares are sinking

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Super Retail Group Limited. The Motley Fool Australia owns shares of COLESGROUP DEF SET and Woolworths Limited. The Motley Fool Australia has recommended Accent Group. 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 Pilbara Minerals Ltd (ASX: PLS) share price is trading lower in late trade following the release of its half year results.

At the time of writing, the lithium miner’s shares are down 3% to $1.05.

Despite this decline, the Pilbara Minerals share price is still up a whopping 235% over the last six months.

How did Pilbara Minerals perform in the first half?

For the six months ended 31 December, Pilbara Minerals reported a 56.5% increase in revenue to $59.1 million. This was driven by a 114% increase in spodumene concentrate shipments to 114,239 dry metric tonnes (dmt).

The reason the 114% increase in shipments didn’t translate into a similar increase in revenue was pricing weakness.

Management explained: “Whilst there was an improvement in sales volumes, customer pricing remained weak during the half-year across the entire lithium raw materials and chemical supply chain.”

Positively, towards the end of the December quarter and into January 2021, there was evidence of a material lift in lithium chemicals pricing within China. The company notes that the Platts China Domestic Battery Grade lithium carbonate price increased by over 60% from the lows in August 2020.

But that wasn’t enough to stop the company from posting a material loss during the first half. Pilbara Minerals reported a statutory net loss after tax of $21.2 million for the half.

This left it with a cash balance of $248 million at the end of the period. Though, a good portion of these funds has now been used to acquire the Altura Lithium Operations. That acquisition completed in January.

Management commentary

Pilbara Minerals’ Managing Director, Ken Brinsden, was pleased with the company’s performance during a challenging period.

He said: “I am extremely pleased with our performance during what was a challenging period for Pilbara Minerals and the entire lithium sector. We have worked hard, done what we said we would do and, with the entire lithium raw materials supply chain now rebounding quickly, we are prepared for the opportunities in front of us.”

“Our plant is performing well, we have driven down our operating costs and we now have expanded production capacity following the acquisition of the Altura Project. At full capacity this acquisition makes us the largest, independent hard-rock lithium producer in the world and a more resilient and flexible operation – with open offtake in a market that is improving day-by-day. What a great position to be in!”

Outlook

Mr Brinsden appears positive on the company’s outlook thanks to improving lithium prices.

He explained: “Lithium raw material markets are now clearly in an upward trend as it relates to both demand and price, which is now translating to improved spodumene pricing. Further, we are fielding more supply enquiries by the day, implying Pilbara Minerals is well-placed with both low-cost operations and near-term expansion capacity to capitalise on this part of the cycle.”

“Our plan over the next four to six months is to complete a comprehensive evaluation of the Altura Project to inform both our integration strategy and future operating strategy, with the aim of optimising the integration of the two operations and increasing production, while maintaining a strong balance sheet,” he added.

More reading

• Pilbara Minerals (ASX:PLS) share price jumps 6% on broker upgrades
• Pilbara Minerals (ASX:PLS) share price climbed 12% today, but why?
• Why Blackmores, Creso Pharma, Pilbara Minerals, & Zip shares are pushing higher
• Zip and Vulcan were among the most traded ASX shares last week
• 5 lithium shares that are fast-charging up in 2021

Motley Fool contributor James Mickleboro 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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Australia’s top brokers have been busy adjusting their estimates and recommendations again, leading to the release of a number of broker notes.

Three broker buy ratings that have caught my eye are summarised below. Here’s why brokers think these ASX shares are in the buy zone:

Australia and New Zealand Banking GrpLtd (ASX: ANZ)

According to a note out of Credit Suisse, its analysts have retained their outperform rating and lifted their price target on this banking giant’s shares to $29.50. The broker was pleased with ANZ’s first quarter update, which was far better than it expected thanks to its strong net interest margin. This stronger result has led to the broker making positive revisions to its earnings forecasts, which led to the price target increase. The ANZ share price is trading at $26.50 this afternoon.

Coles Group Ltd (ASX: COL)

Analysts at Morgans have retained their add rating and increased their price target on this supermarket operator’s shares to $19.45. According to the note, Coles delivered a first half result ahead of its expectations. One slight disappointment, though, was management conceding that its growth could decline in the second half and into FY 2022. Nevertheless, the broker sees value in the Coles share price at the current level and holds firm with its add rating. The Coles share price is fetching $16.44 on Friday.

Webjet Limited (ASX: WEB)

A note out of UBS reveals that its analysts have retained their buy rating and lifted their price target on this online travel agent’s shares to $5.75. According to the note, Webjet’s half year results were disappointing. However, management’s commentary supports its view that there is pent-up leisure travel demand. It expects this demand, market share gains, and its cost cutting to support a strong rebound in profitability in FY 2022. The Webjet share price is on course to end the week at $4.95.

More reading

• The Coles (ASX:COL) share price is down 10% in two days: Time to buy?
• Why the ANZ (ASX:ANZ) share price is storming higher today
• Why Bellevue Gold, Coles, NRW, & Perpetual shares are trading lower today
• ASX 200 up 0.2%: ANZ and CSL impress, Fortescue declares huge interim dividend
• ANZ (ASX:ANZ) share price rises, Q1 profit surges 54%

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Webjet Ltd. The Motley Fool Australia owns shares of COLESGROUP DEF SET. 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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Investors have been quick to dump their OceanaGold Corp (ASX: OGC) shares today. At the time of writing, the OceanaGold share price has tanked nearly 9% in Friday’s trading session after the company released its full-year report.   

What’s impacting the OceanaGold share price?

Earlier today, the OceanaGold share price fell by more than 11% after the company released its full-year financial report for the year ended 31 December 2020.

For the year, OceanaGold reported a loss of US$150.4 million compared to a US$14.5 million profit achieved in the year prior. A 23.2% fall in revenue of US$500.1 million for the year contributed to the loss.

OceanaGold attributed the fall in revenue to limited sales and lower annual production. Overall, the company fell to a loss after revenue was unable to offset the cost of sales and higher depreciation costs.

For the full year, OceanaGold reported consolidated production of 301,675 ounces of gold. The company managed to sell 310,531 ounces at an all-in sustaining cost (ASIC) of US$1,278 an ounce.

Despite the dour full-year performance, OceanaGold highlighted a strong performance in the fourth quarter. The company reported a 57% increase in production for the fourth quarter of 99,155 gold ounces.

Outlook

OceanaGold is a multinational gold producer. Its portfolio of operating assets include the Didipio mine in the Philipines, Macreas and Waihi operations in New Zealand and the Haile gold mine in the United States.

On the back of a strong fourth quarter, OceanaGold touted an optimistic outlook for 2021, upgrading its full-year gold production guidance. It advised expected production for 2021 is in the range of 340,000 to 380,000 ounces at an ASIC of between US$1,050 to US$1,200 an ounce.

The company attributed the increased guidance to production resuming at the Waihi operation and higher gold sales from the Haile gold mine. OceanaGold’s Martha underground project at Waihi recently entered production, whilst its Golden Point project at the Macraes operation and the Haile gold mine are expected to commence production later this year.

OceanaGold President and CEO Michael Holmes attested to the revised guidance. He stated, “These three projects alone are expected to deliver more than a 75 per cent increase in production relative to 2020 at decreasing costs and increasing margins.”.

Based on the current OceanaGold share price of $2.01, the company commands a market capitalisation of around $155 million.

More reading

• Why CSL, LiveTiles, OceanaGold, & Woodside shares are tumbling lower

Motley Fool contributor Nikhil Gangaram 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 Fatfish Group Ltd (ASX: FFG) share price has continued its positive run and charged higher again on Friday.

At one stage today, the tech investment company’s shares were up as much as 10% to 16 cents.

The Fatfish share price has pulled back since then but remains 3.5% higher at 15 cents currently.

Why is the Fatfish share price charging higher?

Hot on the heels of an announcement relating to the acquisition of assets from iCandy Interactive Ltd (ASX: ICI) by its 50% owned RightBridge subsidiary on Tuesday, this morning Fatfish provided an update on its buy now pay later (BNPL) launch.

And judging by the Fatfish share price reaction, investors appear pleased with what the company had to say.

According to the release, Fatfish’s Singapore-based investee company Smartfunding has launched its BNPL service today as scheduled.

The release explains that its BNPL service has begun to take in applications from users immediately. These applications are being processed automatically via Smartfunding’s proprietary online platform. This platform was developed predominantly by Fatfish’s in-house venture builder team.

The release, littered with spelling mistakes, notes that Singapore is a great place to launch. It explained: “Singapore is indisputably the dorminant (sic) financial hub for the Southeast Asia region. By being regulated and headquarted (sic) out of Singapore, Smartfunding aims to attract businesses not only in Singapore, but as well as from the rest of the Southeast Asian economies.”

The company also points out that that the BNPL model is relatively new in Southeast Asia and has a massive potential market opportunity. The release advises that there is a population of 655 million in the region, with a large proportion of middle-class families.

Watch out for Afterpay

However, Fatfish and Smartfunding won’t have it all their own way. Last year BNPL giant Afterpay Ltd (ASX: APT) made a small acquisition in Singapore with a view of expanding into the South East Asia region in the near future.

But judging by the Fatfish share price, some investors appear to believe there is room for both companies.

Following today’s gain, the Fatfish share price is up 300% since the start of the year.

More reading

• Why the Cirralto (ASX:CRO) share price is in a trading halt
• What’s with the Afterpay (ASX:APT) share price fall today?
• Why the Fatfish (ASX:FFG) share price is diving 21% today
• The Fatfish (ASX:FFG) share price has exploded 155% higher today
• The Cirralto (ASX:CRO) share price is hitting 52-week highs today

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of 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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