The Myer Holdings Ltd (ASX: MYR) share price is having a woeful day since the release of its first-half results. During late-morning trade, the Australian department store group’s shares are down 10% to an intraday low of 30 cents.

Below, we take a closer look to see how Myer performed for the H1 FY21 period.

What were the financial highlights?

The Myer share price is moving south as investors digest the company’s latest results.

According to its release, Myer advised that it is continuing to weather the difficult trading conditions caused by COVID-19. However, an eventual recovery is on the horizon once the pandemic subsides.

It noted that for the six months ending 23 January 2021, total group sales stood at $1,398 million. This reflects a 13.1% decline over the prior corresponding period (pcp). In particular, this caused by store closures and reduced CBD footfall.

Comparable CBD store sales sunk 32.2% due to a restricted workforce, impact on tourism, and subdued confidence from continued shutdowns. However, not all was bad as its online sales division surged to $287.6 million, up 71% over the pcp. Improved checkout and browser experience led to the group’s profit.

The Cost of Doing Business (CODB) came to $325.2 million, which resulted in a 20.9% drop compared to H1 FY20. The company continued to execute cost reductions whilst investing in its online segment. The government’s JobKeeper wage program was seen as crucial in maintaining Myer’s workforce.

Earnings before interest, tax, depreciation and amortisation (EBITDA) slightly backtracked to $214.6 million, down 1.7% from this time last year.

Net profit after tax (NPAT) improved to $42.9 million, a jump of 8.4% on the prior comparable term.

Myer closed the period with a net cash position of $201.1 million. Indeed, a substantial increase from the $7.9 million recorded in FY20. This allows the company options to re-invest in its digital segment that can help accelerate future growth.

The board stated that it will keep its dividend suspended in light of the uncertain economic environment.

Management commentary

Myer CEO and managing director John King touched on the company’s results, saying:

The focus remains on profitable sales and executing the Customer First Plan, which has been adapted to respond to COVID-19 by accelerating, re-sequencing and expanding various initiatives. The strengthened balance sheet provides a solid platform for investing in our digital growth engine which represents a significant opportunity.

The Customer First Plan is an overhaul of the business’ approach to improving merchandise offerings, enhance customer experience and satisfaction.

About the Myer share price

The Myer share price is down around 13% over the last 12 months, after going on a rollercoaster ride. The company’s shares hit a low of 8.3 cents last March before trekking to a 52-week high of 41.5 cents in November.

Based on the current share price, Myer commands a market capitalisation of around $246 million.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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The ARB Corp Ltd (ASX: ARB) share price is inching upwards today after the motor vehicle accessory maker announced an acquisition.

At the time of writing, the ARB share price is up 2.52% to $34.53. Meanwhile, the S&P/ASX 200 Index (ASX: XJO) is jostling around the negative 1% mark.

Breaking into the UK

Following the recent successes of ARB’s New Zealand acquisitions, the company now is breaking into the UK market.

This morning ARB announced the acquisition of Auto Styling Truckman Group Limited, commonly referred to as Truckman. Similarly, Truckman makes and distributes auto accessories throughout the United Kingdom.

As aligned with the company’s strategy, Truckman also brings product diversification to ARB. Due to the fact that they mainly focus on rear vehicle accessories (canopies, bed liners, etc.)

All staff and management will be retained as operations continue as per usual.

The deal struck for the acquisition comes to a maximum net cash purchase price of GBP$21.9 million. In other words, roughly A$39.3 million. Approximately A$14.2 million of the maximum acquisition price is subject to performance hurdles.  Truckman’s management will need to meet these over the next 3 years.  

Impacts on ARB’s future performance

ARB stated that the acquisition is being funded from existing cash reserves. Given the company’s cash levels were around $85 million at the end of December, there should still be plenty of cash left to spare. Additionally, ARB reported solid revenue and profit growth in its recent half-year results, so the money should keep flowing in.

ARB’s ownership began on 2 March, with Truckman being immediately profitable.

Share price snapshot

The ARB share price has performed exceptionally in the past 12 months – climbing 102%. Border restrictions left many to explore more locally, possibly veering off the beaten track. Hence, money being spent on accessorising the adventure vehicle of choice certainly experienced a bump. 

More reading

• 3 ASX 200 shares that doubled profits this reporting season 
• The ARB (ASX:ARB) share price slides following strong half-year results
• Why ARB, Domain, Redbubble, & Treasury Wine shares are sinking today
• Real reporting season surprise isn’t about profits but dividends

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia has recommended ARB 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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The Element 25 Ltd (ASX: E25) share price is dropping today, despite positive news. At the time of writing, the manganese producer’s share price is down 2.1%, trading at $1.88.

The change came after the company announced this morning that its Butcherbird Project is nearly ready to begin production of ore.

The Element 25 share price has had a monumental year. It’s currently holding a whopping 1,132% return over the last 12 months.

By comparison, the All Ordinaries Index (ASX: XAO) is up by 9%.

What’s moving the Element 25 share price?

Today’s announcement

 Element 25 announced this morning that it will begin producing ore later this month, with pre-commissioning activities commencing today.

The project is expected to be powered up by the end of the week. Dry commissioning will then begin, with the mine finalised and productive by second half of March 2021.

Element 25 believes manganese is becoming an increasingly important ingredient in the making of batteries to power electric vehicles.

It has noted potential supply constraints on both nickel and cobalt, which could cause battery manufacturers to turn to high manganese cathodes to produce the cathode material required for electric vehicles.  

About the Butcherbird Project

The Butcherbird Project, located in Western Australia, will eventually produce high purity manganese sulphate monohydrate to power electric vehicles.

The project’s advanced flowsheet development work confirmed a unique ambient temperature and atmospheric pressure leach process for the ore. It plans to combine this with offsets to target the world’s first Zero Carbon Manganese™ for electric vehicle cathode manufacture.

The company is planning to integrate renewable energy into the project’s energy needs over time, hoping to eventually reach a zero-carbon footprint.

Element 25 holds 100% ownership of the Butcherbird Project, having footed a $17 million bill for the first stage of development.

A Pre-Feasibility Study conducted by Element 25 highlighted the potential for significant expansion of the Butcherbird Project’s initial production within the first 12 months of operation.

More reading

• What is reflation, and why is everyone talking about it?
• What’s with the 4DMedical (ASX:4DX) share price today?
• What do big brokers think about the Afterpay (ASX:APT) share price this week?
• Up 395% in 1 year, why the DigitalX (ASX:DCC) share price is gaining again
• Future proofing: Should you invest in a sustainable ASX portfolio?

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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‘Reflation’ has become something of an ASX buzzword over the past month or so. Everyone is talking about in somewhat dire terms as well, with questions like “what will reflation do to ASX shares?”. Yet, relation doesn’t sound like a bad thing. So what is this boogeyman, and why are investors worried?

‘Reflation’ usually refers to economic growth coupled with rising inflation. It normally implies the presence of both but made possible by government intervention. That doesn’t sound so bad, you might say. Apart from the inflation part, that sounds rather manageable. And it’s true. A ‘reflationary economy’ would probably be a good thing for most Australians. But not so much for the ASX investor. So why are investors seemingly scared of a growing economy? That should be a good thing right?

Well, only the ‘growth’ part is good. It’s the inflation part that’s got everyone worried. Up until now, we’ve enjoyed a rebounding economy with ultra-low inflation and interest rates. Just yesterday, in fact, we reported on how the Australian economy grew by a stunning 3.1% over the last quarter.

Growth is good, inflation not so much

Normally, inflation isn’t a good thing for investors, but it’s not catastrophic if it’s tied to economic growth. If prices are rising across the board, many (though not all) companies will be able to raise the prices of the goods and services they sell without too much issue.

But it’s what comes with inflation that has people worried in 2021. And that’s higher interest rates. Higher interest rates are bad for the share market because it increases the appeal of other (safer) interest-rate-sensitive assets like term deposits and government bonds. An ASX dividend share yielding 3% looks pretty good against a savings account yielding 0.8%. If that savings account yields 4%, that dividend share doesn’t look so appealing. In this way, interest rates are the financial equivalent of ‘beer goggles’ for the share market.

A report from the Australian Financial Review (AFR) this week sums it up nicely:

Now the risk is that inflation resurfaces, and bond yields rise more sharply than anticipated, overwhelming the rise in earnings during a recovery. The impact could easily end the rally of 2020, leaving markets suffering withdrawal symptoms despite a global economic boom.

It seems a little unfair, doesn’t it? The possibility of falling share prices at the same time as a “global economic boom”… But remember, investors have been enjoying exactly the opposite of that over the past year. The global economy crashed, but share markets boomed. Sometimes, the chickens just have to come home to roost.

More reading

• What’s with the 4DMedical (ASX:4DX) share price today?
• What do big brokers think about the Afterpay (ASX:APT) share price this week?
• Up 395% in 1 year, why the DigitalX (ASX:DCC) share price is gaining again
• Future proofing: Should you invest in a sustainable ASX portfolio?
• Brace for even more new ETFs to hit the ASX

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The 4DMedical Ltd (ASX: 4DX) share price shot up 4.6% in opening today before falling into the red early this afternoon. This, after the medical technology company announced it had received a government grant and would begin a capital raising program.

The 4DMedical share price opened at $1.81, up 8 cents on yesterday’s close but has since retreated to $1.73, putting it flat at the time of writing.

Shares in the company were placed in voluntary suspension for 2 days earlier this week, in anticipation of the news.

Why is the 4D Medical share price moving today?

In today’s release, the company announced a consortium led by 4DMedical, the Australian Lung Health Initiative (ALHI), has been awarded a $28.9 million federal government grant.  The company said the cash will be used to develop “the world’s first” lung function scanners to provide “safe, easy and rapid lung analysis” for both adults and children.

The grant is a part of the Federal Government’s Medical Research Future Fund (MRFF) – a $20 billion program aiming to “transform health and medical research”. The government will allocate the funding over a 5-year period.

4DMedical has exclusive commercial rights for the XVD Scanners – including intellectual property rights. The medical technology company will receive 100% of the revenue from scanner sales.

In conjunction with the grant, 4DMedical will also complete a $40 million capital raising project. It will list 25.8 million new shares on the ASX at a price of $1.55 each. Existing shareholders will be able to apply for these shares, too. The cap for new shares for existing shareholders is a $30,000 value.

The company expects trading of new shares to begin 15 March. The issuance will occur on 7 April.

Words from the CEO

Commenting on the MRFF funding, 4DMedical founder and CEO, Andreas Fouras, said:

We’re thrilled with the huge vote of confidence afforded by the competitive assessment process, as we aim to deliver safe and accurate lung health technology to those who need it. I thank our partners on this project for their outstanding support as we look forward to bringing this Australian innovation to fruition.

[The capital raising initiative] will provide us with the funds needed to execute the long-term commercialisation strategy for XVD Scanners, which will open up an additional revenue stream for the business…

…[It] also provides us with balance sheet flexibility for future growth opportunities that can accelerate the commercialisation of the XV LVAS product…

The company estimates the lung diagnostics market at $40 billion a year.

4DMedical share price snapshot

This time last year, the 4DMedical share price was swapping hands at $1.59. At today’s price that calculates at 8.49% growth. However, the 4DMedical share price has been trending downwards for the year-to-date. The share price in the new year was $2.44 – representing a 29.3% fall.

4DMedical’s market capitalisation is $307 million.

More reading

• 4D Medical (ASX:4DX) share price rises on maiden half-year results

Motley Fool contributor Marc Sidarous has no position in any of the shares mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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Brokers have run the ruler for the Afterpay Ltd (ASX: APT) share price over the weekend and come up with new price targets. This comes after the company’s half-year results announced last Thursday and a 20% slump in share price after hitting an all-time record high of $160.05 on 11 February. 

Mixed views on the Afterpay share price 

On 1 March, Macquarie Group Ltd (ASX: MQG) rated the Afterpay share price as neutral with a $140.00 share price target. Macquarie remains cautious on Afterpay shares as the company missed revenue growth estimates. Neither updates regarding its imminent launch into Europe nor established Asian base was enough to excite the broker. Its neutral stance was largely driven by the increasing competition in the buy now, pay later sector. 

On the same day, Ord Minnett noted that it was bullish on Afterpay results with a buy rating and target price of $150.00. The broker was particularly pleased with its strong growth across key North American and UK regions. It also sees value in the company’s new Afterpay Money product which is expected to launch in 2021. The app will help Australians manage their money with features including mobile banking, a linked Afterpay account and an Afterpay loyalty program. 

On 3 March, Citi was neutral on Afterpay shares with a $124.80 price target. The broker was upbeat about the company’s new products, features and geographic launches as a catalyst to boost sales and profit margins. However, it also acknowledged that e-commerce sales could slow in a post-COVID world and rising competition could pose a risk to growth and margins. Taking into consideration both the catalysts and risks, Citi maintained its cautious neutral rating and flat price target. 

Afterpay eyes geographic and product expansion to drive growth 

Beyond Afterpay’s triple-digit growth reported in its half-year results, the company has taken aim to expand its geographic footprint and product suite in the near-term. 

The company noted that Canada was a region that continues to ramp up with new merchants and customers. The UK has been a very successful region for both Afterpay and its ASX BNPL rivals. However, the rest of Europe remains largely untouched. Afterpay notes that its acquisition to launch into 4 European countries is imminent and on track to complete in Q3 FY21. 

Finally, Afterpay plans to launch an “Afterpay Money” app to help Australians manage payments and savings while being linked to an Afterpay account and Afterpay loyalty program. Users can deposit money into the account, which will be held on the Westpac Banking Corp (ASX: WBC) balance sheet.

Afterpay believes that this will create a captive ecosystem that will enable it to launch new products, services and revenue streams. 

More reading

• Why are ASX tech shares like Afterpay (ASX:APT) so volatile?
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• Here’s why brokers like these 2 small cap ASX tech shares
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Motley Fool contributor Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of AFTERPAY T FPO. 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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The Digitalx Ltd (ASX: DCC) share price is on the rise today, up 5.5% in late morning trade. At the time of writing, the Digitalx share price is trading for 9.5 cents, up 1.06%.

This comes after the blockchain focused technology and investment company reported commitments for its capital raising. 

What did DigitalX report about the new capital raising?

DigitalX shares are pushing higher after the company reported it has secured commitments for $8.8 million to fund its growth plans. The capital was committed by US institutional investors not yet invested in DigitalX.

The placement was at a share price of 9 cents, slightly below the current 10 cents per share. DigitalX said it will also issue investors warrants, exercisable at an exercise price of 10 cents.

Specifically, the first ASX-listed Bitcoin-related company said it plans to use capital raising to grow its funds under management. Additionally, it also aims to aid in developing and implementing its Drawbridge RegTech product. Drawbridge, according to DigitalX, “supports listed companies in better managing their compliance and corporate governance policies”.

Comments from the director

On the capital raise, Leigh Travers, executive director of DigitalX said:

With tailwinds in the Bitcoin and digital asset market and the potential growth opportunity for the funds management division, the company believes it is an appropriate time to raise additional funds to accelerate the business…

We believe that these additional funds will allow us to expedite a number of initiatives identified in our recent strategic review across the digital asset funds management business as well as for our RegTech business led by Drawbridge.

DigitalX share price snapshot

Indeed, investors who bought shares in DigitalX a year ago today will be sitting on intraday gains of 390% at the time of writing. By comparison, the All Ordinaries Index (ASX: XAO) is up 9% in that same time.

Year-to-date the DigitalX share price is down 2%.

More reading

• DigitalX (ASX:DCC) share price soars 18% following Bitcoin update
• These 3 ASX shares invested in Bitcoin before Tesla (NASDAQ:TSL)

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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There are as many different approaches to investing as there are investors, and no approach is inherently correct. But one approach to investing is gathering quite a buzz lately.

Environmental, social, and governance (ESG) investing considers the sustainability and ethics of companies above other measures. This approach is relatively new and has received praise from some experts and investment firms, but not everyone is a believer.

Who is ESG investing good for?

Those that argue for ESG investing believe it is the best way to future proof your portfolio. Those concerned by climate change, environmental destruction, and social inequality might find investing in companies with sustainable practices eases their minds.

If this sounds like you, you’re not alone. BlackRock surveyed investors all over the globe and found that 54% believe sustainable investing is fundamental to processes and procedures.

Immediate past president of the Myer Foundation Martyn Myer and global head of responsible investment at Mercer Helga Birgden spoke to Motley Fool about their approach to ESG investing on the ASX on Wednesday.

“If you invest with ESG principles in mind in a sophisticated way, you invest with economic and social tailwinds behind your investment instead of headwinds,” said Martyn Myer.

“It means that lots of things you’re investing in are growing far faster than GDP. So, you’re investing in growth, but for a very sound reason.”

Helga Birgden added:

One of the biggest concerns for investors is about what should be in their portfolios in the light of current policy commitments in Australia. We are framed to reduce our pollution by 15% by 2023 if we are to meet the Paris Agreement goal. That’s only 2 years away. And 45% absolute carbon emissions reductions in the next 9 years. For investors that’s pretty significant.

Who shouldn’t take an ESG approach to investing?

Often, a sustainable approach to investing is characterised by long-term gains with little short-term satisfaction.

As UK Firm Newton Investment Management commented in Investment Magazine, those who want a quick, passive gain may not find their needs fulfilled by conventional ESG investing.

To be done right, ESG investing should be an active form of investing with a lot of research and maintenance involved, reasoned Newton Investment Management.

If that doesn’t sound like your cup of tea, there’s no need to worry. You may find that you’re already investing in ESG-focused companies.

In 2019, the Australian Council of Superannuation Investors that 76% of the companies listed on the ASX 200 already report at least a moderate level of meaningful ESG management.

Where to start when looking for ESG investments on the ASX?

There are plenty of companies on the ASX that align with the principles of ESG investing. Here are 3 ASX shares currently focused on sustainability across various industries.

Secos Group Ltd (ASX: SES)

Secos Group is a producer of sustainable packaging materials. It has stockists in 20 countries and a successful contract with Woolworths.

The company has had some incredible gains this year. Currently, its share price has risen by 51% year to date, and by an incredible 362.6% over the last 12 months.

Wide Open Agriculture Ltd (AXS: WOA) 

Wide Open Agriculture Ltd is a regenerative food and farming company aiming to make eco-friendly food products. It’s making gains in the development of an Australia-made plant-based protein from Western Australian lupin.

Wide Open Agriculture’s share price is down 20% year to date but is up by a whopping 400% over the last 12 months.  

Neometals Ltd (ASX: NMT) 

Neometals is a lithium mining company working towards powering electric vehicles and clean energy storage initiatives. It has also partnered with German plant manufacturer SMS group to create Primobius, a lithium-ion battery recycling program.

Neometals’ share price is up 24% year to date and 84.6% over the last 12 months.

More reading

• Up 330% in a year, Secos (ASX:SES) share price slides on results
• Here’s why the Neometals (ASX:NMT) share price is running higher

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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It was only last month that we discussed a new ASX exchange-traded fund (ETF). BetaShares has subsequently launched its new BetaShares Cloud Computing ETF (ASX: CLDD). The ETF has had a fairly unremarkable start to ASX life since it listed on 24 February. BetaShares isn’t done yet either. It’s now planning to launch the BetaShares Climate Change Innovation ETF (ERTH) it the near future as well.

But BetaShares isn’t the only ETF provider that seems bent on expanding its stable of exchange-traded funds for Aussies to choose from.

VanEck is also champing at the bit, it seems.

You might know VanEck for its VanEck Vectors Morningstar Wide Moat ETF (ASX: MOAT). Or perhaps the VanEck Vectors Australian Equal Weight ETF (ASX: MVW) that we discussed a few months ago. There’s also the VanEck Vectors Gold Miners ETF (ASX: GDX), which has a following amongst the gold bugs out there.

VanEck has been busy. It was only back in August last year that the Fool covered VanEck’s plans to launch 4 new ETFs – all of which have subsequently hit the ASX boards.

3 new ETFs from VanEck

However, VanEck has more up its sleeves. According to the fund provider, VanEck has another 3 ETFs in the pipeline that it plans on launching soon.

These are:

• the VanEck Vectors MSCI International Small Companies Quality ETF (ticker to be QSML)
• the VanEck Vectors Global Clean Energy ETF (ticker to be CLNE)
• finally, the VanEck Vectors MSCI International Value ETF (ticker to be VLUE)

Regarding the International Small Companies Quality ETF, this fund is set to be modelled off of VanEck’s existing VanEck Vectors MSCI World ex Australia Quality ETF (ASX: QUAL). QUAL selects mid and large-cap companies based on metrics like debt to equity and earnings growth.

The Global Clean Energy ETF is fairly self-explanatory. It will reportedly seek to capitalise on the global shift away from non-renewable fuels like oil and coal. This will be achieved by investing in companies that provide green, renewable energy.

The VanEck Vectors MSCI International Value ETF is an interesting one though. The company states that “in an Australian first, VanEck is offering investors a way to access a portfolio of international companies selected for their higher value score relative to sector peers, as measured by MSCI”.

This will be done by comparing a company against its peers using metrics. Which includes book value and forward price-to-earnings (P/E) ratios. The fund will invest in 250 companies from around the world that fulfil these criteria. VanEck notes that “to date, only institutional investors have been able to access low-cost passive international value investments”. That’s a paradigm the company is hoping to change with this new ETF.

So index investors, rejoice, or wring your hands, depending on your ETF fatigue. You are about to have three more ETFs to choose from, regardless.

More reading

• 2 top ETFs to buy in March
• 2 top ETFs to buy and hold
• 2 high quality ETFs for ASX investors to buy in February
• Got money to invest? Here are 3 ASX shares to buy
• Got cash to invest? Here are 3 ASX shares to buy

Motley Fool contributor Sebastian Bowen owns shares of VanEck Vectors Morningstar Wide Moat ETF. The Motley Fool Australia has recommended VanEck Vectors Morningstar Wide Moat ETF. 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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Downer EDI Limited (ASX: DOW) shares are inching higher today after the company released details of a new contract win. At the time of writing, the Downer share price is trading 0.98% higher at $5.17. 

Let’s take a look at what the engineering and construction giant reported.

New contract for the Eyre Peninsula

The Downer share price is on the rise today after the company announced it has been awarded a $245 million contract by ElectraNet Pty Ltd to upgrade the existing electricity network that serves the Eyre Peninsula in South Australia. The network upgrade will also include substations as part of the contract.

According to the announcement, Downer is slated to begin work at the end of March. The upgrade project will then continue for an estimated 20 months. As such, completion is scheduled to occur towards the end of 2022.

The contract stipulates that Downer’s contribution will involve the construction of 262 kilometres of transmission line, spanning Cultana to Port Lincoln. Additionally, the substations of Yadnarie, Cultana, Middleback, Wudinna, and Port Lincoln must be upgraded.

CEO commentary

Downer chief executive officer Grant Fenn commented on the win, stating:

Downer is pleased to be involved in such a critical infrastructure project which will improve power security and reliability to Eyre Peninsula households and more broadly across South Australia.

The win comes only a few weeks after the company provided its first-half results, which also prompted a rise in the Downer share price. This came despite Downer’s revenue during the period experiencing a 10.6% decline, coming to a total of $6.1 billion. Earnings also took a 10% hit, slumping to $180.4 million.

Downer share price snapshot

Over the past year, the Downer share price has fallen by nearly 7%. Looking at the company’s one-year share price chart, the devastating impacts of COVID-19 can be clearly seen. The Downer share price peaked above $8.60 just prior to the pandemic. That means Downer shares will need to climb another 66% in order to reach their pre-COVID highs again. 

More reading

• NRW (ASX:NWH) share price jumps on acquisition update
• The Downer EDI (ASX:DOW) share price popped today after this

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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