- AVA Risk Group (AVA) says its services division, Ava Global, has enjoyed a “transformational” year, with its quarterly and full-year figures beating previous results
- Ava Global specialises in international logistics, managing the transport and storage of assets like cash and precious metals for clients around the world
- Over quarter four, Global’s revenue spiked to $9.7 million — a $3.5 million increase on its quarter three results
- For the whole of FY20, Ava says its services division brought in $25.1 million in revenue, up $9.2 million on the last financial year’s statistics
- In addition, Ava Global’s market boomed — customer numbers tripled over the year, meaning the division now boasts a portfolio of banks, miners, and refiners
- And Global’s earnings before interest, taxes, depreciation and amortisation jumped $2.4 million to hit $2.3 million in FY20
- Today, Ava shares have jumped just over six per cent into the green, with shares trading for 17.5 cents each
AVA Risk Group (AVA) says its services division, Ava Global, has enjoyed a “transformational” year, with its quarterly and full-year figures beating external guidance.
Ava Global specialises in international logistics, managing the transport and storage of assets like cash and precious metals for clients around the world. The division also provides some consultancy and risk management services.
While the figures are unaudited, Ava says Global’s revenue and earnings are significantly up on previous year’s statistics.
Over quarter four, Global’s revenue spiked to $9.7 million — a $3.5 million increase on its quarter three results.
More broadly, for the whole of FY20, Ava says its services division brought in $25.1 million in revenue, up $9.2 million on the last financial year’s statistics.
The company says the figures come despite a reduction in global airfreight capacity thanks to the pandemic, which could have sent the revenue stats south.
Ava chalks the growth up to its new board of directors, saying the team “propelled the division to record performance.”
In a previous update, Ava said the services division was being led by some of the best in the business, with Chris Fergus at the helm as CEO, Mike McGeever as Chairman and Grant Angwin serving as a Director and Senior Precious Metals Advisor.
In addition, Ava Global’s market boomed — customer numbers tripled over the year, meaning the division now boasts a portfolio of banks, miners, and refiners. And Global’s earnings before interest, taxes, depreciation and amortisation jumped $2.4 million to hit $2.3 million in FY20.
Looking at to the new financial year, the company says the figures are a good sign of what’s to come.
“Growth in FY21 will come from a combination of the annualised impact of recent customer wins and the anticipated continued growth in Ava Global’s pipeline of new customers and major opportunities,” Ava stated today.
Significantly, Ava says its addressable market spend will go well beyond $1 billion in FY21.
Today, Ava shares have jumped just over six per cent into the green, with shares trading for 17.5 cents each at 2:34 pm AEST.