Vocus Group Ltd

Appointment of Interim CEO: Vocus Group Ltd.’s (ASX: VOC) stock rose 1.7% on February 26, 2018 after the company updated the market about appointing Michael Simmons, Vocus’ current Chief Executive of its Wholesale & International Division, and previous Chief Executive of the (former) Vocus Enterprise & Wholesale division as an Interim Group CEO. In view of the fact that VOC intends to have a refurbished strategy post the market’s reaction on its guidance downgrade, the group said that chief executive Geoff Horth is stepping down. VOC has slashed the underlying profit guidance for FY18 to be in the range of A$125 million to A$135 million from its previous estimate of A$140 million to A$150 million. On the other hand, VOC’s half year results depicted revenue growth of 4% to $973.6 million on an adjusted pro forma basis, accounting for the acquisitions made in the period. While the stock has fallen 21.5% in last three months, we give a “Hold” recommendation on the stock at the current price.
 

Australian Agricultural Company Ltd

Conducting search for Chief Financial Officer: Australian Agricultural Company Ltd (ASX: AAC) is conducting a comprehensive search process to appoint a Chief Financial Officer, led by global executive search firm Egon Zehnder. Scott Prebble, who has been acting in the CFO role for the last one year, is taking on a new permanent role outside the company. Recently, the company had appointed Mr Hugh Killen as its Managing Director and Chief Executive Officer, with effect from February 2018. Meanwhile, AAC stock has fallen 11.76% in three months as on February 23, 2018 at the back of softness in performance so far. As of now, we give a “Hold” recommendation on the stock at the current price.

Disclaimer
 
The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkine.com.au and associated pages are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). The information on this website has been prepared from a wide variety of sources, which Kalkine Pty Ltd, to the best of its knowledge and belief, considers accurate. You should make your own enquiries about any investments and we strongly suggest you seek advice before acting upon any recommendation. Kalkine Pty Ltd has made every effort to ensure the reliability of information contained in its newsletters and websites. All information represents our views at the date of publication and may change without notice. To the extent permitted by law, Kalkine Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss or data corruption). If the law prohibits this exclusion, Kalkine Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services. There may be a product disclosure statement or other offer document for the securities and financial products we write about in Kalkine Reports. You should obtain a copy of the product disclosure statement or offer document before making any decision about whether to acquire the security or product. The link to our Terms & Conditions has been provided please go through them and also have a read of the Financial Services Guide. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.