Week four of reporting season was jam-packed with another large number of results. Some good, some bad.
Among the best results of the week were the three listed below. Here’s what happened:
Nanosonics Ltd (ASX: NAN)
The Nanosonics share price was a strong performer last week after investors responded very positively to its full year results release. For the 12 months ended 30 June, the infection prevention specialist reported a 3% increase in revenue to $103.1 million and a 15% decline in net profit after tax to $8.6 million. While this may not initially look impressive, its profits were actually significantly ahead of estimates. This was driven by a strong recovery in the second half. Pleasingly, management expects its recovery to continue in FY 2022. It is guiding to double-digit revenue growth in FY 2022. But arguably getting investors the most excited was the announcement of another new product – Nanosonics Coris. This new platform, which is expected to be launched in calendar year 2023, is for cleaning flexible endoscopes.
Sonic Healthcare Limited (ASX: SHL)
The Sonic share price edged higher last week the release of its exceptionally strong full year results. For the 12 months ended 30 June, the healthcare company delivered a 28% increase in revenue to $8.8 billion and a 149% lift in net profit to $1.3 billion. This was driven largely by strong demand for COVID-19 testing services. However, its base business (non-COVID testing operations) also contributed, delivering a 6% increase in revenue for the period.
WiseTech Global Ltd (ASX: WTC)
The WiseTech share price was on fire last week after it smashed its earnings guidance in FY 2021. The logistics solutions platform provider reported an 18% increase in revenue to $507.5 million and a 63% jump in EBITDA to $206.7 million. This compares to its upgraded guidance for revenue of $470 million to $510 million and EBITDA of $165 million to $190 million. Pleasingly, more strong growth is expected in FY 2022. Management is guiding to EBITDA growth of 26% to 38% for the year ahead.
The post 3 top ASX results from week four of reporting season appeared first on The Motley Fool Australia.
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More reading
- These were the best performing ASX 200 shares last week
- Sonic Healthcare (ASX:SHL) share price hits record high at $43.43
- Top brokers name 3 ASX shares to sell today
- ASX 200 rises, WiseTech soars, Zip drops
- Top broker gives its verdict on the Nanosonics (ASX:NAN) share price
Motley Fool contributor 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 and has recommended Nanosonics Limited and WiseTech Global. The Motley Fool Australia owns shares of and has recommended Nanosonics Limited and WiseTech Global. The Motley Fool Australia has recommended Sonic Healthcare Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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