Quick takes from around the market
Converge [CNVRG 28.00 0.54%] [link] Q1 profit rose 27% y/y, inched up 1% q/q, to P2.0 billion. Consolidated revenues were up 40%. Subscribers are now at 1.8 million, up over 50% from Q1/21. There’s only blue sky above this company in the broadband space, and those tax incentives for “missionary” expansion to under-served markets will probably help soften the cost of maintaining its rapid expansion.
Raslag [ASLAG 2.00 pre-IPO] [link] pricing still not known; we’ll probably get an update on this during the trading day today. I’m not expecting any big changes, but I’m prepared to be shocked or pleasantly surprised.
Apollo Global Capital [APL 0.04 2.17%] [link] FY21 profit up surged 488% to P59 million. You might be wondering if that profit includes any actual off-shore mining, and if so, you might not be surprised to learn that the company still hasn’t done any mining at all, despite having had its ship in position since February of last year. Now they’re using all the old hits (this time blaming Tropical Storm “Agaton” for a one-month delay) to continue making excuses for why nothing has happened with this stock yet. But hey, almost there, right? Probably won’t be any more storms, amirite?
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Merkado Barkada's opinions are provided for informational purposes only, and should not be considered a recommendation to buy or sell any particular stock. These daily articles are not updated with new information, so each investor must do his or her own due diligence before trading, as the facts and figures in each particular article may have changed.
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