Wilson Asset Management’s recent investment update highlighted the positive performance of travel software company Serko in their WAM Microcap portfolio. The update stated that Serko, a leading provider of online corporate travel booking and expense management software, was a significant contributor to the portfolio’s gains in June.
WAM Microcap Ltd surpassed the performance of the S&P/ASX 200 Accumulation Index last month. The fund manager reaffirmed Serko’s guidance for its FY24 total income, expecting it to be between $63 million to $70 million. Serko noted that if the trends seen in the June quarter continue, it will likely surpass the mid-point of its guidance range.
Despite a slight decline in the ASX tech share’s closing price on Friday, it has experienced significant share price fluctuations since its listing in 2018. WAM Microcap shares closed at $1.44 on Friday, representing a 0.69% decrease for the day and a 5% decline year-to-date.
WAM expressed confidence in Serko’s strong financial position, believing it will enable the company to achieve operational efficiency and establish a globally competitive business in the future. The ASX tech share’s performance and potential have garnered attention from investors, making it an intriguing prospect in the market.
In conclusion, Serko’s positive contribution to WAM Microcap’s portfolio performance has further solidified its position as a leading provider of travel software solutions globally. With its promising financial outlook and a track record of overcoming share price turbulence, Serko is seen as a company with significant potential in the tech sector. Investors will be closely monitoring its performance in the coming months as it strives to build a globally competitive business.
