Quite rare to see this kind of results : + 16.5 % for EBITDA despite - 14.5 % for revenues. Similar trends during H1 24.
Apparently, the main explanation is the gross margin which went from 14.8 % to 20.1 %.
But I was not able to find reasons for this gross margin trend.
It seems that the company was able to more than offset the sales decrease during H1 (- 16 %) by the gross margin increase (19.9 % vs 12 %).
However, gross profit decreased by 2 % yoy during H2 (as the company had a limited potential to further improve the gross margin which was already 18.1 % for H2 23) while sales decreased by 12 % yoy.
Anyway, the stock does not look expensive with a free cash flow yield of 8.8 %.
Not bad for a company which claims to have a "10th consecutive year of strong profit growth".
As @RTheo mentioned it, we probably need some explanation to better understand the trends for sales and gross margin.
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- Ann: HIT FY24 Results Summary
HIT
hitech group australia limited
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Ann: HIT FY24 Results Summary, page-4
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Last
$1.85 |
Change
0.000(0.00%) |
Mkt cap ! $78.25M |
Open | High | Low | Value | Volume |
$1.82 | $1.90 | $1.82 | $78.88K | 42.50K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 6595 | $1.85 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.90 | 15247 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 6595 | 1.850 |
3 | 12800 | 1.800 |
1 | 2914 | 1.795 |
1 | 1123 | 1.780 |
1 | 570 | 1.755 |
Price($) | Vol. | No. |
---|---|---|
1.900 | 15247 | 2 |
1.915 | 495 | 1 |
1.920 | 5268 | 1 |
2.030 | 490 | 1 |
2.100 | 10000 | 1 |
Last trade - 14.18pm 01/08/2025 (20 minute delay) ? |
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Hartley Atkinson
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