Insights

The ICSGlobal (ASX:ICS) share price has climbed 13% today. Here’s why.

The ICSGlobal Ltd (ASX: ICS) share price is up 13% today after the company provided positive guidance for FY21.
The post The ICSGlobal (ASX:ICS) share price has climbed 13% today. Here’s why. appeared first on The Motley Fool Australia. –

The ICSGlobal Ltd (ASX: ICS) share price has leapt up 13% today after the company provided a positive guidance update for FY21.

At the time of writing, the ICSGlobal share is price is trading at $2.09.

Strong performance in FY21

The medical billing company says that the results for November 2020 have continued on a positive trend, and as a consequence the board is in a position to provide guidance for the financial year ending 30 June 2021.

ICSGobal expects net profit after tax (NPAT) to be in the range of $1.5 million to $1.7 million. This would be an increase of 22–38% on the prior year’s NPAT of $1.23 million.

The company remains cautious, noting that in the current environment, risks remain including a worsening of the trading environment due to further COVID-19 impacts, and an adverse foreign exchange movement. Should such risks materialise, the company says it will be necessary to revise this guidance.

ICSGlobal also announced the appointment of Graham Dormer as managing director of its medical billing and collections (MBC) business unit. The company says Mr Dormer is ideally suited to this role, having an exceptional background in business operations, finance, IT, and retail.

More about ICSGlobal

ICSGlobal is the largest medical billing company in the United Kingdom, where it derives almost all of its revenue from. 

The company’s revenue is based on an ‘annuity style’ model, where it collects on annualised recurring fees.

For the financial year 2020, the company delivered NPAT of $1.23 million, up 22% from the previous year. This came from a top line revenue of $6.08 million for the full year, which was 7% higher than FY19.

The company said that its strategy for 2020 was to implement key operational changes and efficiencies, which it says are now flowing to the FY21 bottom line.

About the ICSGlobal share price

The ICSGlobal share price had lost 5% this year before today’s increase. The share price went all the way down to $1.43 in March, but has recovered strongly since October. At the current market price, the ICSGlobal commands a market value of $20 million.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of June 30th

More reading

Motley Fool contributor Eddy Sunarto has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post The ICSGlobal (ASX:ICS) share price has climbed 13% today. Here’s why. appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!