At lunch on Wednesday, the S&P/ASX 200 Index (ASX: XJO) is back on form and pushing higher. The benchmark index is currently up 0.25% to 7,179.9 points.
Here’s what is happening on the ASX 200 today:
Woolworths higher on half year results
The Woolworths Group Ltd (ASX: WOW) share price is pushing higher today following the release of the retail giant’s half year results. Woolworths reported an 8% increase in group sales to $31,894 million but a 6.5% decline in net profit to $795 million. The latter was ahead of expectations and includes $239 million of COVID costs.
Domino’s tumbles on disappointing result
The Domino’s Pizza Enterprises Ltd (ASX: DMP) share price is tumbling today after the pizza chain operator’s half year earnings fell short of expectations. Domino’s reported an 11.1% increase in network sales but a 5.3% decline in underlying net profit after tax to $91.3 million. Goldman Sachs responded to the result. It said: “Earnings was a -7.3% miss at the EBITDA line largely driven by the underperformance in Asia. However, the store outlook and topline sales growth remain encouraging.”
WiseTech delivers strong growth
The WiseTech Global Ltd (ASX: WTC) share price is edging higher today after the logistics solutions technology company delivered strong top and bottom line growth during the first half. WiseTech reported an 18% increase in revenue to $281 million and a 77% jump in underlying net profit after tax to $77.3 million. This strong performance has led to management upgrading its FY 2022 earnings guidance.
Best and worst ASX 200 performers
The best performer on the ASX 200 on Wednesday has been the Worley Ltd (ASX: WOR) share price with a 7% gain. This follows the release of the engineering company’s half year update. The worst performer has been the Domino’s share price with a 16% decline following the pizza chain’s earnings miss.
The post ASX 200 (ASX:XJO) midday update: Woolworths impresses but Domino’s crashes after earnings miss appeared first on The Motley Fool Australia.
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More reading
- Worley (ASX:WOR) share price launches 6% as net profits triple
- Profit drop: Woolworths (ASX:WOW) share price pushes higher despite ‘challenging’ first-half results
- These 5 ASX 200 shares are trading ex-dividend today
- Domino’s Pizza (ASX:DMP) profit nosedives: how will market digest result?
- WiseTech (ASX:WTC) share price on watch after strong half and FY22 earnings guidance upgrade
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 and has recommended WiseTech Global. The Motley Fool Australia owns and has recommended WiseTech Global. The Motley Fool Australia has recommended Dominos Pizza Enterprises 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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