Looks like Praemium undergoing some recovery after large sell down from an update relating to negative EBITDA growth and cost increases
Coupled with the ongoing and relatively high rate of inflation that persists, it is expected that operating costs in this current half year will be around 10% higher than the previous half year – i.e. January to June. The one- off, non -recurring costs are expected to amount to around $1 million over the full year.
Based on the impact of these costs and the revenue margin decline mentioned earlier, we currently expect that EBITDA for the first half of FY24 will be approximately 20% lower than the corresponding half last year.
Shares down to all time low of 36c from 58c but now recovered to 44c
There is also an ongoing buyback happening.
Remember that PPS received a takeover from NWL. Would NWL be interested again? Seems interesting here given the history for anyone interested in takeover arbitrage.
The other question is who sold down the shares indesicriminately to 36c last week. Could be Vanguard being the largest holder but there hasn't been an update as yet.