Shares in Sigma Healthcare (ASX:SIG) jumped more than 25% yesterday after the ACCC invited submissions. This was in relation to the pharmacy wholesaler's proposed court-enforceable undertaking regarding its $700+ million acquisition of Chemist Warehouse.
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Pharmacy wholesaler and retailer Sigma Healthcare (ASX:SIG) says its significant drop in interim earnings is due to ongoing costs associated with the impending merger with retail chain Chemist Warehouse.
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Sigma Healthcare (ASX:SIG) shares fell more than 9% at one stage on Thursday after its proposed $8.8 billion merger with the massive Chemist Warehouse encountered potential competition issues with the key regulator, the ACCC.
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The competition regulator, the ACCC, has raised questions about the planned $8.8 billion backward merger between Sigma Healthcare and Chemists Warehouse, citing ‘competition concerns’.
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Private-owned Chemist Warehouse is set to become an ASX 200 top company through its backward takeover of Sigma Healthcare (ASX:SIG), creating a company valued at an estimated $8.8 billion.
Read MoreSigma Healthcare is paying a tiny half a cent per share final dividend after it slashed debt, boosted revenues and swung back to a small profit for the year to the end of January.
Read MoreInvestors in Sigma Healthcare reacted negatively to yesterday’s half year results, details of a major change in strategy and bare bones interim dividend to shareholders.
Read MoreThe broker retains its Neutral rating and increases its target price to $0.52 from $0.50.
Read MoreDespite a weak 2021-22 annual result, Sigma Healthcare believes it is in the final phase of its reboot and ready to show that it has overcome the problems that have been dogging it.
Read MoreThe Neutral rating and target price of $0.53 are retained.
Read MorePharmaceutical wholesaler Sigma Healthcare told the ASX on Wednesday that demand for Rapid Antigen Tests would push underlying earnings up 10% to 15% compared with last year.
Read MoreCiti lowers its target price to $0.50 from $0.60. The Neutral rating is unchanged.
Read MoreHere are a couple of snippets in a weird old start to the week for the ASX from medical group Sigma Healthcare (ASX: SIG) and buidlng materials major Boral (ASX: BLD).
Read MoreSigma’s attempt to snatch control of API appears to have been thwarted, with rival bidder Wesfarmers exercising its call option over 19.3% API shares to put it in a dominant blocking position.
Read MoreSigma Healthcare has come over the top of Wesfarmers and made a non-binding cash and share offer for rival chemist Australian Pharmaceutical Industries that seems to have grabbed the lead in the battle.
Read MoreOutdoor retailer Kathmandu and pharmacy group Sigma have both given early hints of the damage the lockdowns since June have done to some retailers, with both reporting weak sales and earnings.
Read MoreSigma Healthcare shares took the loss of CEO Mark Hooper surprisingly well yesterday, given the surprise nature of the announcement and the lack of any real explanation.
Read MoreLast week it was AGL revealing the shock departure of its CEO. Today, Sigma Healthcare made the surprise announcement that CEO Mark Hooper will go after more than 10 years in the role.
Read MoreSigma Healthcare has reported a $59 million net profit after tax for the year to January, much better than the $12.3 million loss for 2019-20.
Read MoreShares in pharmaceutical wholesaler Sigma Healthcare hit their highest level in more than two and a half years yesterday after the company revealed a solid upgrade to expected earnings.
Read MoreAnother solid update from e-tailer Kogan, Qantas investors have given the airline the biggest thumbs down imaginable in rejecting help the company boost its liquidity while Sigma Healthcare has sold and leased back two of its Distribution Centres (DC’s) for $172 million, half the number of centres in the original deal.
Read MoreUBS estimates a combined earnings benefit of $8m for Sigma Healthcare from 2021 on the basis of the pharmacy wholesale funding in the seventh Community Pharmacy Agreement.
Read MoreThree results including two from yesterday – from Nufarm and Sigma Healthcare – confirm that the figures are historical and useless for assessing the company’s outlook for the rest of the year and into 2021 in the wake of the impact of COVID-19.
Read MoreSigma Healthcare has downgraded FY20 operating earnings (EBITDA) guidance to $46-47m. This comes as of result of reclaiming the FMCG portion of the Chemist Warehouse contract and given the necessity to reinvest in the business.
Read MoreUnderlying earnings (EBIT) were ahead of guidance in FY19, although UBS notes earnings quality was affected by restructuring costs and weak cash conversion. The company has indicated FY20 underlying operating earnings (EBITDA) will be $55-60m.
Read MoreShares in Sigma Healthcare resisted early selling pressure yesterday after the pharmaceutical and health group revealed slightly better than expected results for the 2018-19 financial year.
Read MoreSigma Healthcare (SIG) shares slumped 15% at one stage yesterday after rejected a half-hearted takeover offer from rival Australian Pharmaceutical Industries (API).
Read MoreShares in Sigma Healthcare slumped 11% after yesterday after the drugs supply group revealed the cost of cleaning up the company’s structure after losing the lucrative Chemist Warehouse supply contract.
Read MoreSigma Healthcare shares plunged 44% at one stage yesterday after it confirmed that it would not be continuing as a key supplier to the giant Chemist Warehouse chain in a new deal from July 1, 2019.
Read MoreLower sales amid a softer consumer environment plus the loss of a key customer saw Sigma Healthcare suffer fall in full-year underlying revenue and earnings for 2017-18 financial year.
Read MoreShares in pharmaceuticals and health products supplier Sigma Healthcare jumped more than 4% yesterday after the company met lowered guidance, revealed a new acquisition and reaffirmed it was on track for higher earnings in the next year.
Read MoreShares in pharmaceuticals group Sigma Healthcare plunged almost 30% at one stage yesterday after the company revealed it had started legal action against My Chemist (MC), which owns the Chemist Warehouse (CW) brand.
Read MoreDrugs distributor and pharmacy services firm Sigma Pharmaceuticals is one Australian company that should be poised to build on an already robust export performance into China following that country’s dramatic change of heart on e-commerce rules a week ago.
Read MoreSurprise on the upside and you will be rewarded, even in a dodgy market like yesterday and its nasty near 1% plus sell off.
Read MoreGood news for shareholders at yesterday’s AGM of pharmacies supplier and drug distributor Sigma Pharmaceuticals (SIP) which says it is looking for a 10% jump in underlying earnings for the first half of 2016-17.
Read MoreSigma Pharmaceuticals lifted final dividend 50%, from 2 cents to 3 cents a share, despite warning of slowing earnings growth over the next two years.
Read MoreSigmaPharmaceuticals is paying an interim dividend of 2 cents a share (none previously) after lifting underlying half year profit as it becomes less reliant on revenue from the Pharmaceutical Benefits Scheme (PBS).
Read MoreSigma Pharmaceuticals’ (SIP) shares jumped 9.3% to 94c yesterday after the drugs wholesaler and distributor said earnings (EBIT) grew 11% before interest and tax in the year to January.
Read MoreThe market reaction to Sigma Pharmaceuticals’ (SIP) solid first half profit yesterday showed us one of the perils of being a no-dividend paying company.
Read MoreAhead of the release of its half year results on Thursday, Sigma Pharmaceuticals (SIP) has increased its coverage of pharmacy chains by acquiring the Discount Drug Store (DDS) banner for $26.7 million.
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DOWNLOAD RESEARCH REPORTSecures binding contract with Tier-1 OEMUS based anode active project gathers momentumMagnis Energy Technologies (MNS.ASX) – MNS is planning an anode active facility in the US and recently announced a binding, yet conditional, contract for the supply of anode active with Tesla. The contract is for a minimum 17.5kt/year with an option to purchase another 17.5t/year. Conditions precedent carry a tight development timeframe, with first production scheduled for February 2025. Site selection is underway and co-locating with an OEM on a brownfields site makes sense. Long lead items have been ordered and detailed engineering and design is expected to commence soon. |
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December Quarterly Report: Q2 FY2023Looking past the rain – there’s a rainbow.TerraCom released their operating results for the December quarter FY2023 with operating metrics being in line with our forecasts. Unseasonal rains in both Australia and South Africa contributed to operational and logistical issues across all mines, however guidance for annual production at Blair Athol is unaffected and highlights the quality of TerraCom’s skills in operational management. We continue to like the stable operating metrics around the company’s Australian operations and see potential for the South African operations to benefit from increased management focus given the rationalisation of operations following the closure of the Ubuntu mine. Corporate Connects overall financials remain unchanged as does our target price of $1.35 share. We maintain our forecast for a fully franked quarterly dividend of 7.5c/share to be paid in the March and June quarters of FY2023. |
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DOWNLOAD RESEARCH REPORTHigh performance synthetic anode & cathode materials Building a US based materials supply chainNOVONIX (ASX:NVX) – is scaling a synthetic anode materials plant in the US and piloting nickel rich cathode material in Canada. Why? China is dominant and growing – 100% of global natural anode and 68% of synthetic anode is refined in China. In short, China controls the global midstream battery chain by controlling 60% of chemical refining, 87% of anode manufacturing, 61% of cathode manufacturing and 73% of battery manufacturing. It is global battery supply and price domination at scale. |
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DOWNLOAD RESEARCH REPORTAntisense Therapeutics (ANP) Taking a Quick Approach to Long COVIDThis report looks at the results of a collaborative study Antisense undertook which looked at the largest protein expression database in Long COVID-19 patients who experienced neurologic symptoms well after the primary or acute SARS-CoV-2 infection was considered over (Groups 1 & 2, with 48 subjects Group 2 comprising a single patient from a different clinical site). The symptoms and others experienced by such patients result in a highly significant amount of illness, possibly more than all primary SARS-CoV-2 infections i.e COVID-19. |
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DOWNLOAD RESEARCH REPORT4Q reveals more focus on profit and cash flow• LBY’s 4Q FY22 quarterly activities update showed continued solid growth in top line metrics, albeit slowing, with GMV of NZ$203m (+26% on pcp) and income of NZ$12.1m (+23% on pcp).
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DOWNLOAD RESEARCH REPORTSigns MOU with Ford Company – Kachi is now sold out!Lake Resources (LKE. ASX) – LKE has signed two non-binding MOU’s in the space of 10 days. Ford Company (Ford) has signed an MOU for ~25,000t/year and last week Hanwa, a Japanese commodity trader signed a MOU for up to 25,000t/year. Subject to execution, this is an amazing feat as Ford and Hanwa are prepared to enter into longer-term strategic partnerships with LKE. Commercial negotiations are still ongoing but are expected, especially if Ford & Hanwa inject new equity into LKE, to further de-risk the project financing & thus ensure LKE and Kachi are fully funded. |
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DOWNLOAD RESEARCH REPORTStrategic Vanadium-battery growth with Titanium & Iron earnings resiliencyTNG Ltd is an ASX-listed technology owner and developer of the world-class Mount Peake near-surface vanadiferous titanomagnetite deposit. To unlock value, TNG will concentrate ore from its central Northern Territory mine for processing through its patented TIVAN® process produce three premium quality revenue streams: hi-purity vanadium pentoxide (V2O5) for steel alloys and Vanadium Redox Flow batteries, a quality titanium pigment for paints and a premium steel input with >64%Fe iron ore fines. |
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Promising exploration and development update while SOP prices continue to riseTwo recent gravity surveys have considerably exceeded expectations and revealed potential for extensions to the existing MRE at Lake Throssell, plus a material growth opportunity at Lake Yeo. This reinforces the potential for a multi-decade, Tier-1 SOP production hub based around Lake Throssell. TMG is currently completing work towards the PFS due early 2023, including drilling to start in Q3 2022, evaporation trials and permitting activities. Results from these programs will support the PFS and any future resource upgrade. Benchmark SOP prices have risen to ~US$940/t due to recent geopolitical developments. The Oct 2021 Scoping Study assumed a SOP price of US$550/t and contained a sensitivity analysis showing every 10% increase in price drives a +$144m increase in the project NPV of $364m. The c.70% increase above the Scoping Study thus implies a project NPV of ~$1.4bn. |
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DOWNLOAD RESEARCH REPORTIncreasing our TargetDespite the lower realised oil and gas price, which fell by 5.4% and 19.7% respectively in August, Calima managed to show improvement in its key business metrics. We expect higher production in November due to the contribution by the new Thorsby wells which will be drilled in August/September which will see Calima meet its 2021 production guidance of 4,500 boe/d. |
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DOWNLOAD RESEARCH REPORTEmerging Financial Wealth Advisory GroupWT Financial Group Limited (WTL) is a growing diversified financial services company, founded in 2010 and listed on the Australian Stock Exchange (ASX) in 2015. Its advice and product offerings are delivered primarily through a group of independent financial advisers operating as authorised representatives of WTL under its Wealth Today Pty Ltd (Wealth Today) and Sentry Group Pty Ltd (Sentry Group) dealer group operations. It has around 275 advisers across more than 200 financial advice practices Australia-wide. It also operates a direct-to-consumer operation under its Spring Financial Group brand. |
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DOWNLOAD RESEARCH REPORTImmutep Taking the Fight to CancerIn May 2021, Corporate Connect analyst Marc Sinatra published a comprehensive research report on ASX-listed biotech Immutep Ltd (ASX: IMM). So impressed was he with IMM that Corporate Connect felt it imperative that a follow-up report be released placing a valuation on the company, because the market was not seeing the vast potential of eftilagimod alpha (efti). This follow-up report has been released today. Using comparables, after adding cash back to their EV estimate and dividing by the total number of issued shares, Corporate Connect now places the fair value of an Immutep share at $A2.20. |
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DOWNLOAD RESEARCH REPORTMarket leading lifelong learning platform technology company in Australia and SE AsiaPayGroup (PYG) delivers multi-country BPO services and cloud SaaS HCM solutions, assisting companies to manage employees in multiple, complex jurisdictions. The company has many growth opportunities, including new clients, new jurisdictions, new products, partner expansion, and new revenue sources. PYG’s scalable business model allows operating leverage and with savings from in-housing third party technology, support margin expansion. |
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DOWNLOAD RESEARCH REPORTMarket leading lifelong learning platform technology company in Australia and SE AsiaOpenLearning (OLL) is a higher education technology company that operates a scalable online learning platform through a software-as-a-service (SaaS) business model and provides a global marketplace of high quality courses for learners of all levels. Its primary customers are education providers based in Australia and South-East Asia (primarily Malaysia). OLL started operations in Australia in 2012 and expanded to Malaysia in 2015, Singapore in 2018, and recently also Indonesia. |
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