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.
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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.