The S&P/ASX 200 Index (ASX: XJO) dropped 0.4% to 6,021 points today.
Victoria announced another 384 more COVID-19 cases today and NSW also reported another 14 cases.
Temple & Webster Group Ltd (ASX: TPW) share price rises 5.5%
The online furniture retailer impressed investors today after giving a preview into its upcoming FY20 result.
Temple & Webster reported that its full year revenue increased by 74% to $176.3 million. It achieved 96% revenue growth in the second half of FY20 and 130% growth in the final quarter of FY20. Management boasted that the company achieved its first day of at least $2 million sales in June 2020.
Part of the growth came from the fact that active customers rose by 77% year on year to 480,000.
Temple & Webster also saw the trade and commercial division grow revenue by 68% year on year.
The company achieved earnings before interest, tax, depreciation and amortisation (EBITDA) of $8.5 million, up 483% from $1.5 million over the prior corresponding period (pcp).
Management said that the company was cash flow positive during the year and it finished FY20 with $38.1 million of cash with no debt. This excludes proceeds from the recent $40 million placement.
In FY21 Temple & Webster has continued to see revenue growth rates in line with those experienced in the FY20 fourth quarter.
Temple & Webster CEO Mark Coulter said: "Our strategy of being a category specialist, with a clear customer offering built around the biggest and best range of furniture and homewares in the country, combined with the most inspirational content and services and a great delivery experience and customer service, is working. The advantages of being the online market leader are apparent as we continue to grow our market share."
Credit Corp Group Limited (ASX: CCP) share price rises 8.8%
Credit Corp released its statutory result today for FY20. The ASX 200 share has been impacted by COVID-19.
Net profit after tax (NPAT) for FY20 was down heavily to $15.5 million due to $64.1 million of impairments and provisioning relating to its purchased debt ledger (PDL) assets and the impact of COVID-19. NPAT before those adjustments was up 13% to $79.6 million.
The debt collector decided not to pay a final dividend for FY20. But it does expect to resume dividends in FY21. Its board will need to be content with the capital position and investment outlook.
In FY21 Credit Corp expects to make PDL acquisitions of between $120 million to $180 million. NPAT in FY21 is expected to be between $60 million to $75 million. The FY21 annual dividend guidance is for between $0.45 to $0.55 per share.
If the ASX 200 share achieves the middle of its guidance range, it expects to produce free cash flow of $175 million in FY21.
Volpara Health Technologies Ltd (ASX: VHT) share price falls 2.5%
Healthcare business Volpara released its update for the first quarter of its 2021 financial year.
Cash receipts from customers for the quarter were NZ$5 million, up 112% compared to the prior corresponding period.
Annual recurring revenue increased by NZ$1.1 million to NZ$19.1 million. The company had NZ$67.5 million of cash at 30 June 2020.
Net operating cash outflow in this quarter was NZ$3.7 million. This was less than projected and the lowest since Volpara's acquisition of MRS Systems in June 2019.
Volpara continues to cover approximately 27% of US women who undergo screening and have had at least one Volpara product applied to their images and data.
Dr Ralph Highnam, CEO of Volpara, said: "Q1 saw the emergence of COVID-19, but we're very heartened by the strong cash receipts, negligible churn, and the fact that we got a significant number of new deals over the line. However, we remain fully cognizant of the challenges ahead and are carefully plotting out new strategies so that we can emerge from this crisis strong – COVID-19 will go away, cancer will not."
