Morgans Senior Analyst Ivor Ries updates the network on iCar Asia and Praemium
iCar Asia
On the road to profitability. After years of struggling with difficult market conditions, iCar Asia is now firmly on the road to profitability. The company's March quarter cash receipts were up strongly on the prior quarter and we expect this trend to continue.
Praemium
Major client loss. We have downgraded our forecasts and valuation for Praemium after the company lost one of its major clients, ANZ Private Bank, to a competitor platform operator.
