Join our daily newsletter At The Bell to receive exclusive market insights
- AuMake International (AU8) has its best financial performance since listing in 2017, mainly due to the Asian tourism trade
- It reported its revenue exceeded $18 million and gross margin was above 20 per cent
- The company is looking forward to 2020
- AuMake is up 7.84 per cent on the market today and is trading at 11¢ per share
AuMake International (AU8) has enjoyed its best financial performance since listing in 2017, mainly due to its Asian tourism trade.
The company promotes Australian and New Zealand tourism products to Asian customers visiting from abroad.
Since the acquistion of its subsidiary Broadway business, AuMake has been attracting an increasing proportion of the profitable Asian tourism trade and servicing them with a wide range of Australian and New Zealand made products.
AuMake said that as a result of this positive trend, it has experienced positive unaudited earnings before interest, tax, depreciation and amortisation (EBITDA) for October and November.
“For the two months of October and November, AuMake had its best financial performance since listing,” the company told the market.
It reported its revenue exceeded $18 million and gross margin was above 20 per cent.
The main reasons for this growth are the Asian tour group visitation numbers have exceeded expectations, increased foot traffic at its stores, particularly George Street Town Hall store, and the realisation of significant synergies during the integration of Broadway business.
The company is looking forward to 2020.
AuMake is up 7.84 per cent on the market today and is trading at 11¢ per share at 2:20 pm AEDT.
