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An announcement from Axiom Properties Ltd ( (AU:AXI) ) is now available.
Axiom Properties Ltd reported an increase in cash reserves by $1.67 million for the June quarter, totaling $3.325 million. The company’s property technology division, PaySure, has shown strong financial performance, exceeding budget expectations and developing a new bridging loan product. A new $30 million wholesale debt facility was initiated to accelerate growth, and the company repaid short-term loans. The completion of the Mt Barker development project resulted in $3.7 million in development fees. Meanwhile, Axiom exited the Mt Gambier project, receiving a $500,000 deposit refund. The company continues to focus on building a sustainable income stream through its property technology investments.
More about Axiom Properties Ltd
Axiom Properties Ltd is a property development and investment business focused on developing and delivering quality property and technology solutions. The company’s principal objective is to create long-term value for shareholders by establishing a well-respected property development and technology investment company that consistently delivers above-industry returns on capital.
Average Trading Volume: 76,665
Technical Sentiment Signal: Sell
Current Market Cap: A$9.95M
For detailed information about AXI stock, go to TipRanks’ Stock Analysis page.