SWF reported $1.01m positive cash-flow from operating activities for the year. Interest on the $523m client cash balances with ANZ is probably worth $4m per year. They received $2.57m interest in 2020. So without the interest the business would lose $3m per year.
Will interest payments stop. Maybe.
"Netwealth has told investors that its agreement with Australia and New Zealand Banking Group Ltd (ASX: ANZ) for the interest payable on the total pooled cash transaction accounts is to be terminated in 12 months, on 24 March 2022.The agreement between Netwealth and ANZ Bank provides a margin of 95 basis points (0.95%) above the overnight cash rate (OCR) and will continue for 12 months."
SWF reported $2.8m product manufacturing and operating costs for the Jun21 quarter, together with 357,974 contract notes. Thats a cost $7.98 per contract. Not a lot of margin.
SWF charges $9.50 per ASX trade but now there is plenty of competition charging $5, including OM
SWF charges $9.50 per US trade through Phillips Capital but Phillip Capital charges $6 flat directly, plus there is plenty of zero cost trading out there.
A better user interface and cryptos might not save the day. Probably time for a cap raise before they cant.
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12.5¢ |
Change
0.005(4.17%) |
Mkt cap ! $29.02M |
Open | High | Low | Value | Volume |
12.3¢ | 12.5¢ | 12.0¢ | $2.336K | 19K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 91774 | 12.0¢ |
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Price($) | Vol. | No. |
---|---|---|
12.5¢ | 66722 | 1 |
View Market Depth
No. | Vol. | Price($) |
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2 | 91774 | 0.120 |
4 | 165901 | 0.115 |
4 | 324545 | 0.110 |
3 | 81000 | 0.105 |
3 | 41980 | 0.100 |
Price($) | Vol. | No. |
---|---|---|
0.125 | 66722 | 1 |
0.130 | 27876 | 2 |
0.135 | 138961 | 4 |
0.140 | 275915 | 9 |
0.145 | 215001 | 7 |
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