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- CAQ (CAQ) has seen its share price surge 56.3 per cent, amid the release of its half yearly results
- The results themselves were average, showing revenue had increased but the company’s losses had also deepened
- The jewellery and property developer made most of its revenue from rental income, with revenue totalling just over $1 million
- That wasn’t enough to improve its bottom line though, with losses after tax totalling $1.4 million
- CAQ ended the six months to June 30 with $1.9 million in the bank and cashflow negative
- Despite the mixed results, share’s in CAQ jumped from 1.6 cents each on Monday, to 2.5 cents each in today’s session
- Shares are still currently trading at 2.5 cents per share
Jewellery and property developer CAQ (CAQ) has seen its share price surge 56.3 per cent, amid the release of its half yearly results.
The results themselves were overall quite average, showing revenue had increased, but the company’s losses had further deepened.
CAQ made most of its revenue from its property leasing side of the business. Rental icome totalled $1.047 million for the six months to June 30, up from $741,513 in the same period last year.
But, Jewellery purchases totalled $6,631 – well below the $171,212 in receipts collected in the first half of 2019.
That wasn’t enough to improve its bottom line, with losses after income tax totalling $1.4 million for the first half of 2020, up from $1.1 million in the same period of 2019.
All up, CAQ ended 1H CY20 with $1.9 million in the bank – down from $4.2 million in the previous corresponding period – and cashflow negative.
Despite the mixed results though, shares in CAQ have surged following the release of today’s half yearly results.
Share’s in CAQ jumped up 56.3 per cent, going from 1.6 cents each at close of market on Monday, to 2.5 cents each late in today’s session.
CAQ is still trading up 56.3 per cent at 3.15 pm AEST, with shares worth 2.5 cents each.
