In today’s briefing:
- ASX – New Listings Big Decline, SG&A Costs Up Substantially, Best Income Delta Is Non-Core
ASX – New Listings Big Decline, SG&A Costs Up Substantially, Best Income Delta Is Non-Core
- ASX Ltd (ASX AU) is seeing weakness across key revenue items with best delta in what is non- core, net interest income. Suddenly, its operating cash flow is negative.
- New listings are down from 217 companies to 57 companies YoY to FY23 and their market capitalization is down from AUD59bn to AUD3bn YoY to FY23.
- SG&A costs seem to be rising structurally now at 28% of gross profit in FY23 compared with 23% in FY22 and compared with 17-19% in preceding years.
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