Why Ansell, Breville, Star, and Temple & Webster shares are falling

The S&P/ASX 200 Index (ASX: XJO) is back on form on Tuesday. In afternoon trade, the benchmark index is up 0.15% to 7,428.7 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why they are dropping:

Ansell Limited (ASX: ANN)

The Ansell share price is down 8.5% to $25.71. Investors have been selling this health and safety products company’s shares following the release of its half year results. Ansell reported a 17.2% decline in sales to $835.3 million and a 16.5% reduction in net profit after tax to $64.8 million. This was driven by weakness in the company’s healthcare segment, which offset growth in the industrial segment.

Breville Group Ltd (ASX: BRG)

The Breville share price is down 6% to $20.38. This follows the release of the appliance manufacturer’s half year results. Breville reported a 1.1% increase in revenue to $888 million and a 1.3% lift in net profit after tax to $78.7 million. The latter was ahead of consensus estimate of $74.2 million, but that hasn’t stopped its shares from falling.

Star Entertainment Group Ltd (ASX: SGR)

The Star share price is down a further 12% to $1.30. Investors have been selling this casino operator’s shares since the release of a disappointing earnings update on Monday. Star revealed that competition in Sydney and regulatory issues have been weighing heavily on its performance.

Temple & Webster Group Ltd (ASX: TPW)

The Temple & Webster share price is down 22% to $3.84. This morning, Temple & Webster released its half year results and reported a 12% decline in revenue and a 46.7% reduction in net profit after tax. This was due to the company cycling strong lockdown-boosted sales in the prior corresponding period. It is also worth noting that the company’s result was in line with Goldman Sachs’ estimates, despite what its share price may indicate.

The post Why Ansell, Breville, Star, and Temple & Webster shares are falling appeared first on The Motley Fool Australia.

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More reading

• Dash for trash fades as earnings cliff looms for ASX shares, with the market shooting first and asking questions later
• Breville share price tumbles 4% as revenue growth slows
• Ansell share price slumps 8% as healthcare sales fail to cough up
• Temple & Webster share price sinks 13% on half year results
• 5 things to watch on the ASX 200 on Tuesday

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. has positions in and has recommended Temple & Webster Group. The Motley Fool Australia has recommended Ansell and Temple & Webster Group. 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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