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Supply Network (ASX:SNL) share price jumps 4% on positive full-year guidance

Shares surged on the positive earnings expectations, extending this weeks gains.
The post Supply Network (ASX:SNL) share price jumps 4% on positive full-year guidance appeared first on The Motley Fool Australia. –

The Supply Network Ltd (ASX: SNL) share price is up 4.3% today. This came after the company posted its full year guidance update earlier today.

The company cited revenue expecatations of around $162 million and a net profit after tax (NPAT) of around $13.5 million.

Supply Network has had a busy year weathering the pandemic. Cash and liquidity reserves on its balance sheet rose from $1.64 million to $3.17 million from June to December 2020. The company was able to maintain its dividend distribution schedule, most recently paying a fully franked dividend of 8 cents per share to investors in April 2021.

In February, Supply Network posted its half-year report for December 30 2020, reporting year on year increase in revenue of 15.4%. Net profit after tax also grew 38.4% year-on-year to $6 million.

Shares in the niche aftermarket commercial-vehicle parts supplier have climbed 67.44% over the single-year period to date. The Supply Network share price currently trades at a price-to-earnings ratio (P/E) of around 25.5.

The post Supply Network (ASX:SNL) share price jumps 4% on positive full-year guidance appeared first on The Motley Fool Australia.

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Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned.  The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Supply Network Limited. The Motley Fool Australia owns shares of and has recommended Supply Network Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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