Microequities is an Australian financial adviser specialising in in-depth research of listed "micro caps" – those companies of low capitalisation too small to register on ASX indices or to attract research coverage from leading stockbrokers. In June Microequities hosted its Rising Stars conference, at which selected companies presented their stories. FNArena was invited to attend, and over a period of time will provide conference highlights. This is the first in the series.
Silver Chef provided FY15 profit guidance at its AGM of $13.75-14.25m, compared to the broker’s $13.3m and consensus $14.3m. This suggests underlying growth of 17.5%. GoGetta’s recovery appears to be tracking well and SIV expects earnings to be weighted to the second half, the broker notes.
Silver Chef has joined the growing queue of industrial companies issuing profit warnings in Australia. Macquarie, the sole stockbroker to cover the stock in the FNArena universe, is "disappointed". The culprit is the GoGetta business, where volumes remain below expectations and Macquarie suspects its the exposure to SMEs that is coming home to roost.