Wednesday 03 October 2018 by FIIG Research Company updates

Company updates – Axsesstoday, Eric Insurance, Nufarm

Axsesstoday suspends trading, FY18 results from Eric Insurance and Nufarm, new and updated Factsheets

Axsesstoday suspends trading of bonds and shares

On 27 September 2018, this Article in The Australian Financial Review Digital Edition reported that Axesstoday had suspended both sets of securities, bonds and shares, from trading. Investors are now waiting for the company to win back support of its banks.

Axsesstoday is the leading provider of equipment finance solutions in Australia.

Read our latest report here.

Eric Insurance FY18 results – overall trend encouraging

Eric Insurance recently released its FY18 results. Overall trend was encouraging in the context of the current ASIC review and potential fall-outs from it, as well as the broader Financial Services Royal Commission. Statutory loss and insurance profit improved against FY17, with premium written reflecting current market conditions and continued integration of Swann Insurance. Capital ratios remain above APRA’s mandated levels, noting the buffer remains limited. While there is limited visibility about the completion of the ASIC review, the company believes that significant progress is likely before the end of 2018.

Read the full report here.

Nufarm FY18 results – earnings uplift from European and North American business

On 26 September 2018, Australian crop protection and seed technologies company Nufarm Ltd reported its FY18 results. Results came in 1% lower than FY17. Earnings affected by current severe drought in Australia/New Zealand were compensated by earnings uplift from European acquisitions and strong performance in North America.

Read the full report here.

New and updated Factsheets

All new and updated Factsheets are now accessible under the relevant company name here.