In today’s briefing:
- Monthly Chinese Express Tracker | Volumes Remain Firm | Domestic Pricing Worsens (January 2024)
- Ryanair – Further Corroboration of Strong Summer Prospects
- ATS Corporation: Innovation Invasion!” The Game-Changing Products Set to Dominate the Market!
- Millennium Services Group Ltd – Q2 FY24 Revenue Beat Our Estimates Due to Ad-Hoc Work
Monthly Chinese Express Tracker | Volumes Remain Firm | Domestic Pricing Worsens (January 2024)
- December: strong volume growth, but worsening price declines for STO, Yunda
- Recent trends in X-border parcel volume growth & pricing moderated in December
- In 2024, look for SF to continue its outpeformance; STO, Yunda should still lag
Ryanair – Further Corroboration of Strong Summer Prospects
- Ryanair trimmed its FY24 (March 2024) net income guidance from €1,850m-€2,050m to €1,850m-€1,950m. We cut our forecast 4% to €1,944m.
- Ryanair guidance on summer pricing is encouraging. It sees fares up low-single digit % yoy at this point but expects an improvement as we near the summer.
- This commentary follows bullish pricing updates from easyJet, Wizz Air on short haul as well as the US carriers on Transatlantic routes, suggesting strong 2024 pricing on European routes.
ATS Corporation: Innovation Invasion!” The Game-Changing Products Set to Dominate the Market!
- This is our first report on automation solutions provider, ATS Corporation.
- The company has maintained a consistent performance for the last quarter, with solid order bookings, organic revenue growth, and robust operations across its business.
- In this report, we have carried out a fundamental analysis of the historical financial statements of the company.
Millennium Services Group Ltd – Q2 FY24 Revenue Beat Our Estimates Due to Ad-Hoc Work
- Human services company Millennium Services Group Ltd (ASX:MIL) has released its Q2 FY24 cash-flow report and a Q2/H1 FY24 revenue update.
- Total Q2 FY24 revenue increased 17.7% on the pcp, accelerating from Q1 FY24 and above RaaS estimates with ad-hoc revenue the key surprise, up 40% due to additional extended trading hours at retail malls and new security project work.
- MIL is on track to achieve its FY24 revenue guidance of $300m to $305m.
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