Webcentral Group (ASX:WCG)

Webcentral Group (WCG) Poised To Be King Of Its Domain

Capital H Management founder Harley Grosser recently selected Webcentral Group as one of his favourite stocks during a presentation for Reach Markets’ The Insider series. The company’s spokesperson subsequently joined us to provide the inside scoop on the business.

ASX WCGPrice A$00.49

52 Week Range: A$00.06 - $00.74

Market Cap: A$76.12

Sector: Technology

Date of Report 23/6/2021

Webcentral Group is a listed Australian digital services company headquartered in Melbourne. The company provides domain registry services for a range of clients, and is currently gearing up to release new ‘.au’ domain names. These domain names will eschew the conventional ‘.com’ portion or Australian URLs, allowing businesses to register their name with a shorter, more memorable web address.

While this may seem a small change, Capital H Management’s Harley Grosser notes many businesses will be forced to register these domains even if they have no intention to use them, simply to prevent unethical opportunists from stealing it for their own purposes. Mr Grosser said the release of these ‘.au’ domain names will likely drive a spike in demand for Webcentral Group’s services in the coming months.

The company has recently undergone a number of operational changes after fellow-listed digital services firm 5G Networks acquired 54% of Webcentral Group. Since the acquisition, Webcentral Group has managed to clear its debts, reduce its operating expenditures and improve its cash flow position.

May 7th, 2021

To view more videos from Harley Grosser’s Meet the Manager Session, Click here

June 9th, 2021

To view the full Insider – Meet the CEO’s Session, Click here

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