Funtastic Limited
Funtastic Limited (ASX: FUN) has announced the appointment of Mr. Phillip Jones as a non-executive director of the Company with effect from March 2018. While, walking through the financial performance of FY17, year-on-year (YoY) revenues were seen to have dipped from $88.89 Mn in FY16 to $55.71 Mn in FY17, impacted by fixed costs lagging revenue and write-down of goodwill.Net loss after tax widened to ($33.5M) from ($23.9M) of FY16 on the back of higher selling, general and administration costs.
On the other hand, the group recently reconfirmed its first half year EBITDA expectation of $2.5 Mn for 1HFY18 and the full year EBITDA result is expected to be in the range of $3 Mn to $3.5 Mn. The sales target is in pipeline for the remainder of FY 2018 and FY 2019 and includes the exciting new range of Razor Products. Further, the company has also reduced its debt level by circa $36 Mn and has raised capital of $8 Mn. Moreover, postapproval from the shareholders, the company has completed the consolidation of its ordinary share capital by converting every twenty-five (25) existing fully paid ordinary shares into one (1) share, and normal trading in the post-Consolidation Shares commenced from 22 December 2017. Meanwhile, FUNstock has fallen 46.15% in last three months and was down by 10.26% on March 08, 2018 before recovering about 8.5% on March 12, 2018. Looking at the recent developmental activities and value post consolidation of shares, investors might consider waiting for a while as the group’s future performance might overcome the volatility related issues. We give a “Hold” recommendation on the stock at the current price of $0.19
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Earning Guidance (Source: Company Reports)
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