NZD65.6m market cap
NZD$1.25 last close
QEX is a logistics company that facilitates direct trade between New Zealand/Australia and China, aiming to be a one-stop shop for Australasian entities looking to export products to China.
QEX’s revised sales turnover target indicates a robust business uptake and confirms the strong start in Q119 (despite weaker sales in Australia), with sales at NZ$15.4m (up 35% vs Q418) driven by dairy products and NZ’s international postage revenue. Importantly, management highlighted that the solid trend continued over the past two months. QEX’s ability to secure funding through its listing in February coupled with the recent NZ$2.5m placement, supports the company’s solid growth prospects.