Salmat removed from All Ords

Salmat removed from All Ords
Marketing services provider removed from All Ordinaries following quarterly review

After the recent March quarterly review Salmat will be removed from the All Ordinaries on March 20.

Four times a year the ASX reviews each company’s performance and rebalances the All Ordinaries to show the top 500 ASX listed companies.

Salmat says organisations are added and removed from the various share benchmark listings based on the specific criteria of the index that consider such things as market capitalisation, liquidity, trading frequency, issuing of new shares, significant acquisitions or divestments.

[Related: Salmat revenue drops by $11m]

Craig Dower, CEO, Salmat says, “Salmat's business transformation, which commenced in 2015, continues and is delivering results as evidenced by the most recent half-year results ending December 31, which revealed the fourth successive half of EBITDA growth.

“Salmat has transformed significantly over the past two years.  The major changes are now complete and our priority is new business and revenue generation. Following this change to the All Ordinaries index, we’ll continue to pro-actively share our transformation story with investors."

Last month, it posted half year results seeing the company’s EBITDA and profit before tax rise strongly while revenue dropped by 4.7 per cent or $11.1m to $224.5m.

Salmat began in 1979 as a letterbox distribution service and is now a full-suite marketing services company listed on the ASX with locations in Australia, New Zealand and Asia.

The All Ordinaries (XAO) is a total market barometer for the ASX and contains the 500 largest ASX listed companies by way of market capitalisation. It is still regularly quoted as a benchmark for Australian equities as Australia’s premier index since 1979.

Source:

Copyright © 2017 Haymarket Media. All rights reserved. This material may not be published, broadcast, rewritten or redistributed in any form without prior authorisation.
Your use of this website constitutes acceptance of Haymarket Media's Privacy Policy and Terms & Conditions.