Aconex Ltd soars 12% on ASX

Shares in Aconex Ltd (ASX:ACX) have doubled since listing in December 2014

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Published August 3, 2015 3:29 pm AEST

Aconex Ltd (ASX: ACX) has seen its shares soar 11.8% to $3.99 in late afternoon trading on the ASX today. That's despite the S&P/ASX 300 (indexasx: XKO) (ASX: XKO) sinking 0.4%.

The company provides collaboration software to the global construction industry, allowing major projects to be managed, with input from multiple stakeholders, contractors and subcontractors. The cloud-based platform allows companies to share documents and manage information and process across a whole project.

The company didn't have a great debut on the ASX back in December 2014 when it floated. At the time, Aconex was the largest loss-making technology company to list on the ASX. Shares fell from the offer price of $1.90 to around $1.87 at midday on December 9, 2014.

But investors will have forgotten all about that by now (those that held on anyway), with shares doubling since then on strong financial results and the signing of a number of large contractors including Bechtel, John Holland and Lend Lease Group (ASX: LLC).

Back in June, Aconex upgraded its prospectus forecasts, with revenues, earnings and net profit after tax all increasing. Today the company reported its quarterly cash flows and highlighted a record volume of new business and positive cash flow of $4.7 million.

CEO Leigh Jasper commented on the results, "We ended FY15 with strong momentum in ANZ and internationally. Top-line performance in Q4 reached a new quarterly high, driven largely by infrastructure development across all regions."

The company officially reports its results for the 2015 financial year on August 25, 2015.

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