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Australia’s leading investment platform provider CommSec has released data on the most traded ASX shares on its platform from last week.

Here’s the data:

BPH Energy Ltd (ASX: BPH)

This small cap biotechnology and mineral exploration company was the most traded share on the CommSec platform last week. BPH Energy’s shares were responsible for 2.4% of total trades on the platform, with 63% coming from buyers. Those buyers will be pleased to have seen the BPH Energy share price rocket 200% over the five days. Excitement around its Baleen Well drilling appears to have been the catalyst for this.

Zip Co Ltd (ASX: Z1P)

Zip shares were popular with investors again last week. The buy now pay later provider’s shares were attributable to 2.2% of trades on the platform. On this occasion, the buying and selling was evenly split. It may be partly for this reason that the Zip share price was largely flat for the week. Which isn’t a bad outcome considering the ASX 200’s 2.8% weekly decline. A week earlier, the Zip share price jumped 30% following its second quarter update.

Novonix Ltd (ASX: NVX)

This battery materials company’s shares were responsible for 2.2% of total trades on CommSec over the five days. And although almost two-thirds of these trades came from buyers, it wasn’t enough to stop the Novonix share price from dropping 6.8% last week. Nevertheless, the company’s shares are still up over 100% since the start of 2021.

Fortescue Metals Group Limited (ASX: FMG)

CommSec users were buying Fortescue shares in large numbers last week following its second quarter update. The iron ore giant’s shares were attributable for 1.8% of total trades, with a massive 80% coming from the buy side. Unfortunately for these buyers, the Fortescue share price shed 10% of its value over the week.

Lake Resources N.L. (ASX: LKE)

Another battery materials company which was popular with investors was lithium-focused Lake Resources. Its shares were responsible for 1.8% of trades on the platform, with 70% coming from buyers. Last week Lake raised $20.6 million via a placement. Investors appear pleased that its flagship Kachi Lithium Brine Project is now fully funded through to the construction phase in 2022. The Lake share price jumped almost 43% over the week.

More reading

• Here’s why the Fortescue Metals (ASX:FMG) share price fell 12% in January
• Fundie names 3 great ASX shares to own
• ASX 200 rises, Worley dumped, Mesoblast rises
• Why BPH Energy (ASX:BPH) shares are in a trading halt
• Forget growth or value: Here’s a neutral way to pick shares

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 ZIPCOLTD FPO. 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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For an unlisted company, Ellume certainly knows how to keep ASX investors talking. The Brisbane-based health company also made news last year. This was due to its announcement that the United States Food and Drug Administration (FDA) had endorsed one of its products.

As we discussed at the time, Ellume specialises in rapid diagnostic technology. The company had developed a rapid test for the COVID-19 infection. The test only costs around US$30. It can reportedly detect traces of coronavirus in as little as 15 minutes with a 94% sensitivity in detecting infection.

Following that endorsement from the FDA, Ellume ramped up plans to send more than 100,000 of its tests to the US. At the time, Ellume planned on delivering more than 5 million tests every month by March 2021. Ellume was (and remains) the first and only company that the FDA has licensed to produce ‘at-home’ COVID tests.

Ellume gets another green light from the USA

Today, Ellume has received more good news.

According to reporting in the Australian Financial Review (AFR) today, the Biden administration has inked a US$230 million deal with Ellume for increased testing. The report states that the White House is aiming for “mass production” and “slashed costs” with the deal.

It also sees it as a “critical way to reopen large parts of America’s battered economy”. Apparently, the Ellume test involves a nasal swab that is inserted into a cartridge and linked to a smartphone app. The White House is quoted in the AFR stating that this is a “chicken and egg problem that we have actually taken a step to solve today”.

Now Ellume has signed this deal, it will reportedly enable the company to build a US-based factory. The company is expecting to deliver 8.5 million COVID-19 testing kits. Until the factory is built, the company will deliver 100,000  tests a month from Australia.

This comes after the company told the AFR that it is on track to deliver roughly 200,000 tests per day “this quarter”. When the factory is completed and reaches full capacity, it will be able to produce as many as 19 million tests per month.

Ellume founder and CEO  Dr. Sean Parsons had this to say on the deal:

We are prioritising our partnership with the U.S. government to mobilise tests quickly and in the most impactful way… We will fulfill the order for these tests at the same time as we ramp up the output across our production facilities, creating more possibilities for retail and private institution use in the future.

Possible ASX flow-on effects

Even though Ellume is an unlisted company, its good fortune appears to be having some flow-on effects.

Shares of a blood-testing company Atomo Diagnostics Ltd (ASX: AT1) are up almost 2% today. Shares of another diagnostic testing manufacturer, Anteotech Ltd (ASX: ADO), are in a trading halt today “pending a further announcement”.

So stay tuned to this sector!

More reading

• Atomo Diagnostics (ASX:AT1) posts 709% boost in quarterly cash receipts

Motley Fool contributor Sebastian Bowen 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 Healthia Ltd (ASX: HLA) share price has been a strong performer on Tuesday.

In afternoon trade, the shares of the integrated group of health-based companies are up 5% to $1.81.

Why is the Healthia share price surging higher?

Investors have been buying Healthia’s shares this afternoon following the release of a market update.

According to the release, based on unaudited accounts, the company is expecting to report strong revenue and profit growth for the first half of FY 2021.

In respect to the top line, Healthia is expecting to report revenue of $62 million to $64 million for the period. This will be an increase of 40% to 45% on the prior corresponding period. This was driven by organic revenue growth of 14.5% and the benefits of acquisitions.

Things are expected to be even better for its earnings for the first half due to a significant improvement in its earnings before interest, tax, depreciation and amortisation (EBITDA) margin.

The company’s EBITDA margin is anticipated to improve by 425 basis points to 527 basis points, driving its underlying margin to 17.26% to 18.26%.

This is expected to underpin an 86% to 103% increase in EBITDA to the range of $10.7 million to $11.7 million for the half.

On the bottom line, the company is forecasting underlying net profit after tax before amortisation (NPATA) of $4.5 million to $5 million. This will be an 85% to 106% increase over the same period last year.

Underlying earnings per share is expected to increase at a slightly slower (but impressive) rate of 69% to 88% for the half. This is due to its increased share count following capital raisings.

Management commentary

Healthia’s Managing Director, Wesley Coote, commented: “With strong organic growth during the period, and the completion of a number of strategic acquisitions over the last 12 months, including settlement of The Optical Company on 30 November 2020, we expect to see underlying EBITDA for the period ending 31 December 2020 in the range of $10.7 million to $11.7 million. This represents an expected increase in underlying EBITDA in the range of 86% to 103% over the prior period.”

More reading

• These 2 ASX small cap shares just hit 52-week highs

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended HEALTHIA 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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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Ford Motor Company (NYSE: F) announced Monday that it has entered a six-year deal with Google, which will make the search giant responsible for much of Ford’s upcoming in-vehicle connectivity.  

Under the deal, future Ford and Lincoln vehicles — beginning in 2023 — will be “powered” by Google’s Android operating system, providing customers with built-in access to Google services such as Maps, Play, and Assistant. 

In addition, the in-car systems will be able to run apps from both Ford and third-party developers, the companies said. 

Ford and Google are establishing a new collaborative group, called “Team Upshift,” to “push the boundaries of Ford’s transformation” by exploring and developing new products and services that make use of the data that will be gathered, the company said in a statement.

Ford said that the partnership is intended to streamline its operations and accelerate its ongoing $11 billion restructuring plan. CEO Jim Farley said that Ford will be able to redirect spending from developing its own navigation and in-car entertainment systems in-house, which he said gave Ford’s customers a “generic” experience. 

For Google and its parent Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL), the deal gives Google Cloud a prominent new customer that could help it win additional business. Google Cloud’s market share has lagged similar offerings from rival tech giants Amazon Inc (NASDAQ: AMZN) and Microsoft Corporation (NASDAQ: MSFT). 

Financial terms of the deal were not disclosed. 

Microsoft signed a similar deal with General Motors Company (NYSE: GM) and its Cruise self-driving subsidiary in January. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

More reading

• Experts want Big Tech to stop the spread of COVID-19 misinformation
• Better buy: Amazon.com vs. Google
• Amazon’s ad business will dominate the 2020s
• 3 biggest risks to ASX share investors right now

John Rosevear owns shares of Amazon, Ford, and General Motors. John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of The Motley Fool’s board of directors. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Alphabet (A shares), Alphabet (C shares), Amazon, and Microsoft and recommends the following options: long January 2022 $1920 calls on Amazon and short January 2022 $1940 calls on Amazon. The Motley Fool Australia has recommended Alphabet (A shares), Alphabet (C shares), and Amazon. 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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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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With earnings season now here, I thought I would take a look at what is expected from some of Australia’s most popular companies.

On this occasion, I’m going to take a look at Domino’s Pizza Enterprises Ltd (ASX: DMP).

What is expected from Domino’s in the first half of FY 2021?

According to a note out of Goldman Sachs, it is expecting the pizza chain operator to deliver a strong first half result on 17 February.

Its analysts expect solid same store sales growth to be complemented by operating leverage, driving above-average earnings growth for the period.

Goldman is forecasting same store sales growth of 8% across the group, leading to total network sales of $1,833.3 million and revenue of $1,077.9 million.

Thanks to margin expansion across all territories, the broker has pencilled in earnings before interest, tax, depreciation and amortisation (EBITDA) of $180.5 million for the half. This will be up 19.6% on the prior corresponding period.

Finally, on the bottom line, the broker expects Domino’s to report a 19.8% increase in net profit after tax to $89.3 million. This is expected to lead to an interim dividend of 73 cents per share, with 75% franking.

What will the drivers of the result be?

Goldman is expecting all sides of the business to contribute positively to Domino’s first half result.

In the ANZ market, it is forecasting same store sales growth of 6%, a 13-basis points increase in its EBITDA margin, and total stores of 846. This is expected to underpin an 8.7% increase in ANZ EBITDA to $77.6 million.

Over in Europe, the broker is also forecasting a 6% increase in same store sales. In addition, it has pencilled in total stores of 1,209 and a 55-basis points increase in its EBITDA margin, leading to a 22.9% lift in European EBITDA to $58.6 million.

Finally, the Japan segment is expected to be the star performer for the half. Goldman is forecasting same store sales growth of 15%, total stores of 745, and a 24-basis points improvement in margins. This results in a 35.9% increase in Japan EBITDA to $52.2 million.

Goldman Sachs currently has a conviction buy rating and $88.00 price target on its shares. Though, it is worth noting that the Domino’s share price is now trading above this at $92.95.

More reading

• 2 quality ASX growth shares that could be long term market beaters
• These ASX shares are targeting enormous growth over the 2020s
• ASX 200 up 1.2%: Bingo rockets, Rio Tinto update, Domino’s jumps
• Why Bingo, Creso Pharma, Domino’s, & Tyro shares are zooming higher today
• 3 ASX 200 shares that keep growing their dividends

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. 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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The S&P/ASX 200 Index (ASX: XJO) is having a top day today. At the time of writing, the index is up a respectable 1.05% to 6,733 points. But one sector is not joining in on the party today. That sector is ASX silver shares.

Yesterday, we looked at why ASX silver shares were rocketing for a seemingly strange reason. That turned out to be an alleged attempted short squeeze on the silver market that was initiated by the now-famous Reddit group WallStreetBets.

The idea behind this ‘short squeeze’ attempt was that the silver market is a relatively shallow and illiquid one, meaning that a sudden surge of buying pressure would force a supply-demand imbalance, and cause the price of silver to skyrocket accordingly.

As we also discussed yesterday, there was an underlying assumption in this WallStreetBets ‘short thesis’ that silver could shoot as high as US$1,000 an ounce if the market was squeezed hard enough. For investors brimming with FOMO after seeing what happened with GameStop Corp (NYSE: GME) stock last week, it must have been a red flag to the bull.

That’s perhaps why we saw a feeding frenzy of activity yesterday surrounding silver, silver miners and silver exchange-traded funds (ETFs). We saw ASX silver miners like Thomson Resources Ltd (ASX: TMZ) and Silver Mines Limited (ASX: SVL) rally between 50% and 80% during yesterday’s trading day at various points.

Not such an ASX silver bullet

Well, yesterday’s feeding frenzy is today’s rotting carcass. ASX silver shares are plunging this morning, giving up some (or most) of yesterday’s gains. That’s coming off the price of silver falling 2.6% overnight to US$28.66 an ounce, according to Bloomberg. However, that was after silver reached an 8-year high of $29.42 an ounce yesterday. To put things in perspective, silver was asking just US$25.40 an ounce on 27 January, just less than a week ago.

At the time of writing, Thomson Resources shares are down more than 22% today, while Silver Mines is down 19%. Another big performer yesterday in Adriatic Metals plc (ASX: ADT) is down 7.6%. A notable exception is Soth32 Ltd (ASX: S32), whose shares are up almost 4% today. However, South32 did not see the same kind of rally yesterday (‘only’ 4.7%) as these other miners. This is probably due to silver making up a relatively small part of South32’s earnings base.

So why are these silver miners falling today, even though the price of silver remains substantially higher than it was last week? Well, it’s probably due to the fact that investors have realised that silver isn’t going to US$1,000 an ounce like some evidently were thinking yesterday.

After last week’s saga, perhaps investors have realised that silver isn’t going to be the next GameStop after all.

More reading

• Can the Reddit army save the plunging Unibail (ASX:URW) share price today?
• Huon (ASX:HUO) share price sinks on profit downgrade and write-downs
• Why the Centuria (ASX:CIP) share price is gaining today
• These 2 ASX stocks jumped after a broker upgrade to “buy” today
• How Monday’s stock market silver squeeze fared

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Why ASX silver shares like Silver Mines (ASX:SVL) are falling today appeared first on The Motley Fool Australia.

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They’ve been labelled the Reddit army. A loose collection of retail investors linked through social media apps like WallStreetBets. And in recent weeks they’ve shown just how much money and influence their united front can bring to bear in global share markets.

The targets have largely been institutional short sellers. Hedge funds who take positions against a company’s shares. Meaning they make money when the share price goes down… and lose money when the share price goes up.

If the share price goes up a lot, short sellers are often forced to cover their positions. That can see them buying back the shares they borrowed and sold, creating even more demand for the shares and driving the price even higher. You’ll hear this called a short squeeze.

While much of the action has centred on US markets – think GameStop Corp (NYSE: GME) – the ASX-listed Unibail-Rodamco-Westfield (ASX: URW) share price has also been swept up in the Reddit army’s assault on short sellers.

How the Reddit army is driving the Unibail share price

The Unibail share price is falling hard today, down 5.6% in late morning trade. That compares to a 1.2% gain on the S&P/ASX 200 Index (ASX: XJO)

But the last 3 trading days were a very different story. Unibail’s share price gained 14.5% on Thursday, and by the closing bell yesterday it was up 18.5% from Wednesday’s closing price.

The impetus behind the sharp rally appears to lie largely with the Reddit army targeting short sellers of the retail chain, including US hedge fund D1 Capital.

According to the Australian Financial Review:

European market disclosures that require funds to reveal their short bets showed three D1 Capital entities had a collective 7.84 per cent short interest in URW’s Paris- and Amsterdam-listed shares.

Short-selling volumes increased by eight times the average daily volume on Friday to 1.8 million shares for the ASX-traded security.

A global scramble to cover, traders say, contributed to the share price spike.

Short sellers can and do make money at times. But the risk is high. While the most you can lose by going long on a stock (buying shares) is what you pay for it, the losses for short selling are theoretically unlimited.

Invest with care.

Unibail-Rodamco-Westfield company snapshot

Unibail is one of Europe’s largest commercial real estate companies, owning a portfolio of quality retail and office complexes. It has assets in Europe, the United Kingdom and the United States.

Unibail acquired Australian shopping centre operator Westfield Corporation, created by the split of Westfield Group, in 2018. This saw Unibail shares first listing on the ASX as Unibail-Rodamco-Westfield.

Over that past 12 months, the Unibail share price remains down 49%.

More reading

• ASX 200 up 0.9%: Credit Corp impresses, Afterpay jumps, bank shares rise
• Why Bubs, Huon, Temple & Webster, & Unibail-Rodamco-Westfield are dropping lower
• How Monday’s stock market silver squeeze fared
• Robinhood forced to raise another $2.4 billion despite limiting GameStop trades
• The moral of the GameStop story?

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Can the Reddit army save the plunging Unibail (ASX:URW) share price today? appeared first on The Motley Fool Australia.

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The Huon Aquaculture Group Ltd (ASX: HUO) share price got hit by a shock profit downgrade as it was hit by a series of unfortunate events.

The HUO share price is like a fish out of water. It slumped 7.8% to $2.82 in late morning trade even as the S&P/ASX 200 Index (Index:^AXJO) jumped 1%.

The salmon farmer warned investors that its FY21 earnings before interest, tax, depreciation and amortisation (EBITDA) is expected to take a big hit compared to last year when it turned in an EBITDA of $47.3 million.

Huon also said it expected to take an impairment charge for the year with its market cap trading below the book value of its assets.

Multiple factors drowning the HUO share price

Management didn’t quantify the damage but investors were left with no doubt these will be very material to the profitability of the group.

These were several things that went wrong for the HUO share price to cause this disappointing outcome.

The COVID-19 disruption is only but one factor, although the pandemic continues to be a major challenge for the company and industry.

International demand for salmon during the health crisis suffered and any pick-up in the domestic market wasn’t enough to offset the loss.

Poor timing contributed to supply glut

Then there was bad timing on Huon’s part. It increased production as demand fell away. The group increased net sales to 19,290 tonnes in 1HFY21 versus 13,321 tonnes it sold the same time last year.

The extra supply meant that Huon was selling more fish into the export market. Management said that 40% of total volume went into this lower-priced spot market that is struggling with excess supply.

Salmon prices are down around 40% in the six months ended December 2020 compared to the same period in 2019.

Margin squeeze

While domestic salmon prices are holding up, the average price Huon will receive for its product is tipped to fall by 15% to $11.40/HOG kg in the first half.

If these negatives weren’t enough to put investors off, higher freight costs and increase global production of salmon of between 0.5% and 2% in 2021 are also weighing on the stock.

Let’s not forget the resurging Australian dollar too. As the international salmon trade is priced in US dollars, a stronger Aussie means lower translated earnings for Huon.

Then there were the “accidents”. Huon lost a lot of fish from its farms from fires, tear in nets and criminal conduct.

Foolish takeaway

All these factors may not be so bad if there was light at the end of this long dark tunnel. Unfortunately, management couldn’t provide that either.

Conditions remain too volatile and uncertain for Huon to paint a brighter outlook. It looks like the HUO share price will be stuck in the sin bin for a while.

But the bad news doesn’t only taint Huon. The Tassal Group Limited (ASX: TGR) share price lost 2.5% to $3.34 at the time of writing.

Some of the currents that Huon is swimming against are likely felt by Tassal as well. This all leaves a bad tastes in investors’ mouths.

More reading

• Why Bubs, Huon, Temple & Webster, & Unibail-Rodamco-Westfield are dropping lower
• Why the Centuria (ASX:CIP) share price is gaining today
• These 2 ASX stocks jumped after a broker upgrade to “buy” today
• 5 things to watch on the ASX 200 on Tuesday
• ASX 200 rises, Worley dumped, Mesoblast rises

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The AMA Group Ltd (ASX: AMA) share price opened more than 2% higher today before dipping slightly to its current level of 64 cents.

The jump follows news that the company is seeking to recover $1 million from former chief executive Andy Hopkins who was sacked last week.

AMA Group focuses on the wholesale vehicle aftercare and accessories sector, including vehicle panel repair, vehicle protection products and accessories, automotive electrical and cable accessories, automotive component remanufacturing and workshop and performance products.

What’s been moving the AMA share price this week

Yesterday, the AMA share price dropped roughly 1.5% after the company announced the appointment of Carl Bizon as the group’s new chief executive officer. Mr Bizon will receive a base salary of $900,000.

When the board initially moved to terminate Andy Hopkins’ appointment last week, Mr Hopkins resigned. He maintains his position as a board director, despite AMA attempting to remove him.

AMA Group alleges that Mr Hopkins misused his corporate expense account. Following an internal investigation, the board believes that the Mr Hopkins accepted payments without board approval.

In the same release announcing the new CEO, AMA reiterated its demand that Mr Hopkins resign from the board. The announcement states:

Having resigned as Chief Executive Officer on 31 January 2021, and under the terms of Mr Hopkins’ employment contract, Mr Hopkins is required to immediately resign from the Board of the Company. The Board expects to receive notice of his resignation from the Board forthwith.

The third largest shareholder of AMA denies wrongdoing

Mr Hopkins is the third-biggest shareholder of AMA. As reported by The Australian, he denies any wrongdoing and claims that fellow director Simon Moore has it out for him.

Mr Moore owns a capital investment firm, Colinton Capital, that once sought $4 million in advisory fees from AMA. Mr Hopkins claims this unresolved issue is behind the board’s allegations and his dismissal.

Over the past two days, the company has announced two new substantial shareholders. The first was Commonwealth Bank of Australia (ASX: CBA) and the second CI Investments Inc.

With these holders now in possession of a voting power above 5%, they will both also have a future say in the direction pursued by the board to recoup the $1 million it believes it is owed from Mr Hopkins.

The AMA share price has crashed more than 30% over the past year.

More reading

• Here’s why the AMA (ASX:AMA) share price is crashing lower today

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 Centrepoint Alliance Limited (ASX: CAF) share price is soaring higher today, reaching a multi-year high. This comes after the company provided investors with a business update on the first-half of the 2021 financial year.

During morning trade, the financial advisory services company’s shares have risen to a 52-week high of 29.5 cents, up 31.1%.

What did Centrepoint Alliance announce?

The Centrepoint Alliance share price is on the run after reporting a robust first-half performance and resumption of dividend payments.

In its release, the company announced that favourable trading conditions has led it to achieve growth across its key segments.

For the period ending 31 December, earnings before interest, tax, depreciation and amortisation (EBITDA)came to $2.1 million. This reflected a significant improvement compared to the loss of $400,000 realised in H1 FY20.

The higher EBITDA result was attributed to positive growth across all its key segments. In particular, the company noted continued strength in adviser recruitment and fee revenue. Its funds under management and administration portfolio saw above-budget increases.

At the end of the calendar year, Centrepoint Alliance recorded a healthy cash balance of $14.7 million.

The board proposed a fully-franked dividend of 4 cents to be paid to eligible shareholders on 26 February. This represents a 1 cent ordinary interim dividend and a 3-cent special dividend due to the company’s outstanding performance. Centrepoint Alliance stated that it’s within the best interest of the company to return excess capital to its shareholders.

What did management say?

Centrepoint Alliance chair, Mr. Alan Fisher, commented on the unaudited results:

Centrepoint Alliance has continued to improve its operating performance and is now well positioned to participate in industry consolidation and seek new strategic opportunities.

This financial year is about capitalising on the work conducted through our Strategic Refresh over the last two and a half years to establish a scalable, recurring revenue business model.

We have continued to focus on organic growth and refining our cost base, as is evident in the first half operating results. We are now actively pursuing opportunities to unlock the value of the business that can be achieved through scale.

Centrepoint Alliance share price summary

Over the past 12 months, Centrepoint Alliance share price gone from strength to strength, jumping more than 130%.

The company’s shares hit a low of 8 cents in May, before storming higher to reach a multi-year high today.

Based on the current share price, Centrepoint Alliance has a market capitalisation of around $42 million.

More reading

• AMA (ASX:AMA) share price rises as former CEO chased for $1 million
• Why Afterpay, Credit Corp, Healius, & Volpara shares are storming higher
• GameStop-style uprisings happened a 100 years ago too
• ASX 200 up 0.9%: Credit Corp impresses, Afterpay jumps, bank shares rise
• 2 little known ASX growth shares to buy

Motley Fool contributor Aaron Teboneras 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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