Intellectual property protection has potential for growth, particularly in parts of Asia. QIP's revenue from that major area is only about six per cent of its total revenue.
It is a difficult subsector for potential further competitors to enter unless they can coax existing practitioners across with higher remuneration or other benefits.
The number of holders between FY 20 and FY 21 has grown by a high 15.96 per cent to 1780.
'Top 20' holders previously held 58.66 per cent of issued capital but that's now down to about 50 per cent. PPT was a substantial shareholder at the end of FY 20 with 7.41 per cent but is below five per cent now, or may have completely exited.
Malaysia is mentioned as proving 'challenging' during COVID-19. IIRC, for many months Malaysia was, like Vietnam, regarded as having 'knobbled' the virus but eventually the latter caught up.
Subsequently, these nations have struggled with the death toll in Malaysia at 858 per million residents compared to Vietnam's 218 and interestingly, archipelagic Philippines with its 7200 plus islands at 370/million. (Death tolls in all three may be understated due to some unreported by local officials, but conversely, some who perished have had significant comorbidities that could be the primary cause of death).
Melbourne where the company is headquartered has had more lockdown days than any other major worldwide city. It must also be regarded as 'challenging'. ("Thank you", Marxist Premier Daniel Andrews and Victorian Labor for your incredible degree of incompetence, arrogance and hubris rolled into one, feted by a largely compliant media, especially taxpayer-funded 'their ABC' and smarmy Channel 9 Melbourne).
Working from home may be easier for a technology-foscused entity such as QIP than for instance factory process workers, but could have the downside of mostly lacking the quick interaction and intellectual stimulus from brainstorming that occurs in offices.
The MD with his superior knowledge may disagree, but as a small holder I'd prefer that partners and staff were on that Metro (Melbourne) or Sydney Trains timetabled service before much longer, bound for slowly revitalising CBDs, rather than remaining at home.
The result would have been more impressive had it not been for the decline in the US$ against the A$. Close to the end of February 2021 the A$ reached US$0.786548 but since 1 July 2021 (when it was about US$0.749787) it has marginally declined to US$0.748697.
It's very good that (departing) Chairman Mr Richard England mentions at least twice about how QIP's primary duty is to its shareholders (which is not to discount its obligations to clients, staff and others such as ASIC/ASX/auditors with which it deals).
Australians seem fairly good at these highly specialised 'tertiary services' tasks.
Let's hope QIP has a reasonably bright future, or better, despite the difficulties of the last two years when politicians have demonstrated mediocrity and a compliant subservience to unelected, narrowly focused, catastrophist health officers. So many costs that politicians refuse to discuss.
QIP Price at posting:
$1.22 Sentiment: Hold Disclosure: Held
