A positive week for the market saw the S&P/ASX 200 close up just shy of 37 points (+0.7%), with all of the big 4 banks finishing positive except for Westpac (ASX:WBC), which went Ex-dividend during the period. At the large end of the market, Macquarie (ASX:MQG) group was a star performer, finishing up $6.60 (+10.14%).
In small and medium sized companies, money continued to flow for Lithium – with several companies acquiring new lithium projects during the week. Lithium has been a hot sector for several months now, with many companies holding Lithium assets seeing significant share price gains.
During the week, Baker Young staff visited Codans (ASX:CDA) facility in Technology park, touring the premises and engaging in conversations with key personnel. A full summary of the site visit by analyst Alastair Murray can be found here.
Baker Young also had a boardroom meeting with Knosys limited (ASX:KNO), providing our brokers and analysts with a business update following the company’s IPO in late 2015. Knosys has been demonstrating their knowledge management software to potential clients, with the company currently in the tender process for several significant contracts.
The week was rounded out with conference calls from SmartTrans Limited (ASX:SMA) and Alexium International limited (ASX:AJX) who both gave updates on the progress of their respective businesses over the quarter.
SmartTrans CEO & Managing Director, Brian Carr, provided some clarity around the company’s quartlery report, emphasising the cyclical nature of the businesses revenue.
Alexiums CEO, Nicholas Clark and President, Dirk Van Hyning, provided a general business update and reiterated the company’s forecast target of US $18.5m revenue for CY2016. Nicholas and Dirk also broke down the forecast revenue into operational segments said that they anticipate 75% of revenue to fall in the second half of the year.