Stocks of the Hour: SenSen, ALS & ASX

Company News

by Michael Luu

Smart city solutions provider SenSen Networks (ASX:SNS) has sealed a deal to acquire anti-theft surveillance specialist Scancam Industries for a total consideration of up to $10.6 million. The payment package is made up of a $6.5 million upfront cash and scrip consideration and a performance-based earn-out of up to $4.1 million. Shares are trading 3.33 per cent higher at 15 cents.

Testing services provider ALS (ASX:ALQ) has upgraded the company’s final payout by 8.5 cents or 139 per cent to 14.6 cents partially franked, despite suffering a 5 per cent revenue hit by pandemic challenges. The lab examiner managed to limit its underlying profit slump to just 1.5 per cent, as the company recorded underlying earnings of $185.9 million for the coronavirus-battered financial year. Shares are trading 12.11 per cent higher at $12.22.

Stock market administrator ASX (ASX:ASX) has announced the upcoming departure of deputy chief-executive Peter Hiom. The outbound second-in-command boss has decided to call time on his service at the ASX to join Motive Partners, a blockchain technology firm focused on financial investment. His twenty three-year involvement in the company and eleven-year tenure as deputy CEO will come to an end on July 1. Shares are trading 0.05 per cent lower at $75.5.