News and Announcements
Industrial Companies Were the Big Winners on the ASX Yesterday with the S&P / ASX 200 Industrials Index (Index: (AXNJ) (ASX: XNJ) Climbing 2.3%
- Published June 23, 2012 2:02AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Vocus Communications Limited (ASX: VOC) jumped 9.9%, or 16 cents to close at $1.77. Like many stocks, Vocus has seen its share price hammered in the last month, falling 16%. There has been no particular reason for the share price falls, and little change in its underlying business strength. As we mentioned in our weekly update on Monday, Vocus’ business is unlikely to be heavily impacted by either a flailing Europe or a slowing Chinese economy.
In fact, Vocus released good news on Monday, when it announced that it was acquiring Maxnet Limited, a leading New Zealand based data centre operator and Cloud provider for NZ$9.5m. The acquisition complements Vocus’ existing data centre product offerings, and is expected to contribute NZ$2m in Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA), in the 2013 financial year.
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