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iCash growth strategy to follow Stargroup merger

ASX listed ATM machine operator iCash is set to implement a major growth strategy following on from its successful merger with Perth based ATM machine operator Stargroup.

The merged company, which will soon change its name to Stargroup, will now focus on a five point plan for growth which includes further value accretive mergers and acquisitions with smaller unlisted ATM machine operators.

The company will also have exclusive rights to distribute the popular Korean manufactured ATM machine, “CashPod" in Australia and New Zealand.

Included in the CashPod range of cash payment products is a unique “re-cycler” ATM machine that allows customers to both withdraw and bank money using the same ATM machine, creating a continuous fee generating money loop.

iCash is also set to enter the EFTPOS market having secured a wholesale deal with a significant switching company. 

The combined company sales figures released to the ASX recently show 6 successive record quarters for the now merged entity with the last quarter showing 441% growth over the previous corresponding period last year.

iCash raised $3m to complete the Stargroup merger at 3.5c with the stock trading at around 6c today.

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Stargroup (STL)

Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 31/12/18

1 year TSR5 year TSR
183rd4DS Memory8%-13%
294thUltima United-7%9%
383rdEmerge Gaming-20%-44%
759thStargroup-72%-11%
716 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

09/08/17
$12k Bought
27/06/17
$0 Other
27/06/17
$35k Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

216th↓Stargroup$17k
220th↓4DS Memory$6k
221st↓Ultima United$4k
223rd-Emerge Gaming$0
224th↓Mission NewEnergy$5
237 listed industrial companies ranked by revenue.
Source: Morningstar

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