Equities

Technology One is scheduled to report its 1HFY22 result on Tuesday, 24th May and we anticipate a solid result with forecast low double digit revenue and PBT growth.

UMG has provided a FY22e trading update which includes FY22e EBITDA guidance, 1H22e EBITDA guidance and balance sheet.

RRL has reported March 2022 quarterly production of 103.1koz at AISC of A$1,574/oz. We maintain our Buy recommendation on a 5% lower target price of $3.00/sh.

Envirosuite provided a Q3 sales update and in short the company delivered another solid quarter.

Life360 is scheduled to release its Appendix 4C for 1Q2022 next Wednesday, 27th April and we expect this and other commentary by the company to provide more clarity regarding the outlook for 2022 and potentially beyond.

We have marked to market coal prices for the March 2022 quarter and upgraded our met coal price outlook (premium Hard Coking Coal) to average US$384/t in 2022 (previously US$250/t) and US$238/t in 2023 (previously US$163/t).