It certainly was a busy day of results releases on Wednesday.
The likes of A2 Milk Company Ltd (ASX: A2M) and CSL Limited (ASX: CSL) were just two of a large number of companies handing in their report cards.
Given how many releases were made, a few results will inevitably have slipped under the radar.
Three that you might have missed are summarised below. Here’s how they performed:
McPherson’s Ltd (ASX: MCP)
The McPherson’s share price rose almost 4% on Wednesday after the beauty products company delivered a solid FY 2020 result. For the 12 months ended 30 June, McPherson’s reported a 6% increase in total sales revenue to $222.2 million. On the bottom line the company posted an underlying profit after tax of $15.5 million, up 13% on the previous year. On statutory basis, profit after tax fell 56% to $6.1 million. This includes a $10.7 million pre-tax non-cash impairment in its A’kin and Moosehead brands and its investment in the Kotia joint venture.
Moelis Australia Ltd (ASX: MOE)
The Moelis share price jumped over 9% higher yesterday following the release its half year results. Investors were very pleased to see the company deliver a result 6.5% ahead of the guidance it provided at its annual general meeting in May. Moelis reported a slight reduction in revenue to $67.4 million and a 19.4% increase in statutory net profit to $8.9 million. And although no guidance was given for the full year, management revealed that the second half has started positively.
Saracen Mineral Holdings Limited (ASX: SAR)
The Saracen share price tumbled lower on Wednesday following the release of its full year results. Though, this decline had more to do with a pullback in the gold price than its profits. In fact, had the gold price remained stable the Saracen share price would likely have risen. For the 12 months ended 30 June, Saracen reported a whopping 173% increase in underlying net profit after tax to $257.5 million. This was driven by a 47% jump in production, steady costs, and a stronger gold price.
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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia owns shares of A2 Milk. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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