Company News: CML and 360 Capital
It was another quiet week - not unexpected as we head towards company profit reporting season (commencing in two weeks).
CML Group, a provider of factoring and other financial services to businesses, increased is FY-18 earnings guidance. Previous guidance was for underlying EBITDA (earnings before interest, tax, depreciation and amortisation) of less than $15.5m (FY-17 EBITDA was $13.2m).
It has increased to less than $17.0m, supported by organic growth in its factoring division, better than expected ramp-up of its new equipment finance division (now profitable after launch in Jul-17), and smooth integration of the debtor finance business acquired on favourable metrics from Thorn Group.
Asia Pacific Data Centres (APDC) released an independent valuation for the three data centre properties it owns: $265m as at 30-Jun-18. APDC is a major investment of 360 Capital Property Group. APDC is currently trading at $1.87 per security, vs the $2.02 NTA / security that the independent valuation represents.