Key developments

Enterprise ICT stocks in Australia and New Zealand showed mixed performance over the last year. Overall, economic growth is expected to be sluggish relative to previous years, creating uncertain performance for enterprise ICT equities. Some of these companies are growing through acquisition rather than organically, and are exposed to any economic downturn.

Comms Group

Comms Group’s stock climbed more than 23% over the last month with the company’s release of positive FY24 full year results, where the company recorded 7% YoY revenue growth from $55.5m of revenue, and a 36% YoY increase in EBITDA from $6.6m of EBITDA. The company noted a significant achievement during the year was the granting of voice-licenses across the Asia Pacific, expanding the company’s reach. An inaugural dividend of 0.25c per share was declared.

Data#3

Data#3’s stock price is down over 11% over the last month, declining on investors displeasure with its FY24 full year results. The company recorded a -0.4% YoY decline in statutory revenue from $806m in statutory revenue, and a 5% YoY increase in EBIT from $53.5m of EBIT. Divisions which saw declines in gross sales YoY, include Business Aspect Consulting (-5.5%), People Solutions (-11.6%) and Infrastructure Solutions (-3.6%).

Field Solutions

Field Solutions stock rose 15% in the last month with the company releasing its FY24 full year results. The results showed 13% YoY revenue growth from $63.4m of revenue, and a 5% YoY increase in EBITDA from $5.4m of EBITDA.

The company noted that it has had success in expanding its capabilities and product offering, increasing the size of customer contracts and the size of client organisations.

About Venture Insights

Venture Insights is an independent company providing research services to companies across the media, telco and tech sectors in Australia, New Zealand, and Europe.