Strong positive company’s update: Pureprofile Ltd.’s (ASX: PPL) stock surged 118.4% on June 26, 2018 after the company gave a strong positive update. PPL has achieved the monthly operating cost base to deliver the FY2019 target of $20 million, which is a key goal. The company has improved its gross margin in second half of FY18 of 49% (as at May 2018) compared to 44% in H1FY2018. Therefore, the EBITDA has been consistently positive each month from March 2018 and the H2 FY18 EBITDA margin has also improved compared to H1 FY18. Moreover, PPL has progressed to sign-off stages of new domestic and international partnership opportunities. Further, the company’s new Chief Financial Officer, Melinda Sheppard, started on 25 June 2018 and the company will now focus more on the commercial side of the business going into FY19 and other executive appointments, including a Head of Marketing and Communications and Country Head – UK/EU, that are expected to be finalised by end of June 2018. Additionally, PPL expects FY19 to see a marked turnaround in financial performance as FY 18 was a challenging year for the company. As a result, PPL stock has risen 14.47% in five days as on June 25, 2018 post a one year fall of 73.64%.
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