note profit increase helped by lower interest costs due to...

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cobrakai1984

5,757 Posts.

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29/02/24

11:03

Post #: 72665436
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Originally posted by ThereAbouts: ↑

Steady as she goes and then some, $78 at 10:36am up 9.5%.

@Milch, re Cocoon, non-issue as far as I can see, certainly isn't/hasn't spooked the punters.

Last statement from MAQ:

"Cybr5 Cocoon Data Holdings - Update November 8 2021, by Macquarie Technology Group

Cybr5 Pty Ltd (parent entity of Cocoon Data Holdings Pty Ltd) dispute.
We are constantly scanning Australia and across the world for the best products that can support our Government customers. Sometimes vendors change direction, approach and ownership, and move from being good products and fit for purpose to no longer being such. In those cases, which is rare, we need to make the right but difficult decision to change the underlying component suppliers. That’s what we did some time ago. We swapped out Cocoon Data, now owned by investors in Cybr5 Pty Ltd for an alternative vendor. We haven’t looked back. It was the right decision to be made. This minor product was no longer what was needed by our Government customers. While most vendors understand that losing an account is part of business, this is not universal. Unfortunately, some end up in a legal dispute that can achieve little for either party (At this point is it important to note that we deny the claims made against us by Cocoon Data Australia Pty Ltd, a former vendor. Their claims and assertions are entirely without merit). Ultimately, good products support great businesses.": LINKNothing on Courts NSW as far as I can see: LINK

"Cocoon Data Holdings Pty Ltd v Macquarie Telecom Pty Ltd – Supreme
Court of NSW 2020 / 00275538 (ongoing). Breach of contract (for
defendant). Unled. Briefed by Maddocks": LINK

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note profit increase helped by lower interest costs due to capital raising i think. the actual EBITDA rise was modest.

MAQ Price at posting: $77.36 Sentiment: None Disclosure: Not Held
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0 Great analysis

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