Some of the country’s top fund managers have revealed some great ASX share picks for 2021.

There was a huge amount of disruption in 2020 due to the COVID-19 pandemic.

These businesses have been identified by fundies as among the best opportunities for 2021:

Sonic Healthcare Limited (ASX: SHL)

Kelli Meagher, portfolio manager from Sage Capital, went for large healthcare player Sonic Healthcare.

Ms Meagher thinks that the market is under-appreciating how long the COVID-19 testing is going to go on for. She said that the ASX share is already significantly benefiting from all of the additional testing due to COVID-19.

The fund manager pointed out that COVID-19 testing isn’t going to go away after the vaccine and it’s not known how long the vaccine actually lasts. Sonic could get another leg of growth from antibody testing, which tests if someone is immune and whether the vaccine worked for three months or six months.

Ms Meagher likes the global growth, the management team and the cashflow generation of Sonic. She also pointed out that it could buy acquisitions with the extra profit it’s generating. She also said that it had a “nice little dividend yield of 4%”, and it should do well in 2021.

According to Commsec, the Sonic share price is valued at 17x FY21’s estimated earnings.

Galaxy Resources Limited (ASX: GXY) and Pilbara Minerals Ltd (ASX: PLS)

Fund manager Julia Weng from Paradice Investment Management decided to go for two lithium ASX shares, Galaxy Resources and Pilbara Minerals.

Paradice has been doing a lot of research into electric vehicles and the implications on battery materials. Ms Weng pointed out that electric vehicles are currently at a 5% market penetration.

There has been numerous policy changes emerge during the pandemic. In previous years, electric vehicle growth was driven by China. But there has been subsidies and tax exemptions come out of the US and Europe.

The fundie said that Europe is producing more electric vehicles than China. General Motors itself will have 30 models of electric vehicles by 2025. Paradice believes that will underpin the demand for battery materials.

However, there hasn’t been a lot of lithium supply because of depressed lithium prices.

Ms Weng thinks that the lithium price has to increase to incentivise stronger production from here.

The Pilbara Minerals share price has risen by 185% since the start of November 2020 to $1.11 – it just matched its all-time high from January 2018. The Galaxy Resources share price has gone up by 159% since 25 September 2020.

More reading

• The Pilbara Minerals (ASX:PLS) share price is already up 25% in 2021
• Are ASX lithium shares staging a comeback in 2021?
• Top brokers name 3 ASX shares to buy next week
• Brokers just upgraded the Sonic (ASX:SHL) share price and this other ASX stock to “buy”
• 3 ASX mining shares hitting 52-week highs today

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. 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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With a new month here, I’m sure many readers will be considering a few changes to their portfolio in the near future.

But which shares should you buy? To help narrow things down for you, I have picked out three shares that are highly rated:

Altium Limited (ASX: ALU)

The first ASX share to look at is Altium. It is an award-winning printed circuit board (PCB) design software provider. Over the last few years, Altium has carved out a leading position in this growing market and is now aiming to take things to the next level by dominating it.

A key part of this plan is the recent release its cloud-based Altium 365 product. Management expects this to support its aim of doubling its subscriber numbers to 100,000 and increasing its revenue by ~150% to US$500 million by 2026.

One broker that likes what it sees here is Credit Suisse. Its analysts have an outperform rating and $42.00 price target on the company’s shares.

CSL Limited (ASX: CSL)

Another option to consider is CSL. It is one of the world’s leading biotechnology companies. It is comprised of the CSL Behring business and the Seqirus business.

CSL Behring is the global number one player in a plasma therapies industry worth a massive US$30 billion per year. Whereas Seqirus is now the number two player in the US$6 billion global influenza vaccines industry.

Analysts at UBS are big fans of the company and note that it has a lucrative research and development pipeline which could support solid growth in the future. The broker has a buy rating and $346.00 price target on its shares.

REA Group Limited (ASX: REA)

A final ASX share to look at is REA Group. It is the leading player in real estate listings in the Australian market.

Although FY 2020 was a difficult year for the company because of the pandemic, its excellent costs control limited the damage. And pleasingly, with the housing market tipped to perform strongly in 2021, it looks well-placed to benefit from a return to listings growth.

In addition to this, price increases, international growth, and flat costs are likely to support its performance.

Morgan Stanley is positive on the company and has an overweight rating and $150.00 price target on its shares.

More reading

• 3 ASX growth shares to buy right now
• 2 high quality blue chip ASX shares to buy now
• Mesoblast (ASX:MSB) share price could be facing more pressure in 2021
• Why these leading ASX gold and tech shares could rally on through 2021
• Why is the CSL (ASX:CSL) share price trading around its COVID lows?

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 recommends Altium. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia has recommended REA Group 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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Are you looking to boost your portfolio with some income options?

Then you might want to take a look at the ASX dividend shares listed below. Here’s what you need to know about them:

BWP Trust (ASX: BWP)

The first ASX dividend share to look at is property company BWP Trust. It is the owner of 68 Bunnings Warehouse sites across Australia.

Thanks to the quality of the Bunnings business and the retailer’s strong performance during the pandemic, BWP has been able to collect rent largely as normal during the crisis. This led to the company reporting profit growth in FY 2020 and allowed the BWP board to increase its distribution to 18.29 cents per unit.

A similar distribution is expected in FY 2021, which based on the current BWP share price, will represent a 4.2% yield for investors.

Coles Group Ltd (ASX: COL)

Another dividend share that investors might want to look closer at is Coles. This supermarket operator has been growing strongly in recent years thanks to its long track record of same store sales growth, store expansion, and its defensive qualities.

The latter proved particularly beneficial during the pandemic, with Coles one of only and a handful of companies reporting strong sales growth despite the economic downturn.

The good news is that this positive form has been maintained in FY 2021 even as COVID headwinds ease, putting Coles in a position to deliver another strong full year result.

According to a note out of Citi, its analysts are expecting Coles to deliver a robust result in FY 2021. In light of this, the broker has a buy rating and $21.20 price target on its shares. The broker is also forecasting a 63.5 cents per share fully franked dividend this year, which represents a fully franked 3.4% dividend yield.

More reading

• 3 ASX dividend shares with yields above 4%
• 2 quality ASX dividend shares to buy next week
• How to invest in ASX shares in a post-COVID world 
• The Coles (ASX:COL) share price jumped 22% in 2020 (and could still go higher)
• 2 ASX dividend shares with attractive yields

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of COLESGROUP DEF SET. 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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On Monday the S&P/ASX 200 Index (ASX: XJO) started the week in a disappointing fashion. The benchmark index fell 0.9% to 6,697.2 points.

Will the market be able to bounce back from this on Tuesday? Here are five things to watch:

ASX 200 expected to rise.

It looks set to be a better day for the Australian share market on Tuesday. According to the latest SPI futures, the ASX 200 is poised to open 4 points higher this morning. This is despite a weak start to the week on Wall Street. In late trade the Dow Jones is down 0.35%, the S&P 500 has fallen 0.65%, and the Nasdaq has tumbled 1% lower.

Mesoblast on watch.

The Mesoblast limited (ASX: MSB) share price was a strong performer on Monday and jumped 14% higher. This followed the release of a positive announcement which revealed that its rexlemestrocel-L drug provides a reduction in heart attacks, strokes and cardiac death in patients with chronic heart failure. With the company’s US listed shares jumping 37% overnight on the news, its ASX listed shares may have some catching up to do today.

Oil prices mixed.

Energy producers including Beach Energy Limited (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) will be on watch after a mixed night for oil prices. According to Bloomberg, the WTI crude oil price rose 0.15% to US$52.33 a barrel and the Brent crude oil price has fallen 0.35% to US$55.79 a barrel.

Gold price rebounds.

It could be a better day for gold miners such as Newcrest Mining Limited (ASX: NCM) and St Barbara Ltd (ASX: SBM) after the gold price rebounded from Friday’s selloff. According to CNBC, the spot gold price is up 0.75% to US$1,849.10 an ounce. Traders appear to believe it was oversold on Friday when it dropped over 4%.

Zip update.

Second time lucky? Zip Co Ltd (ASX: Z1P) didn’t release its second quarter update as was largely expected on Monday, so today could be the day. Investors will no doubt be keen to see how the company performed during the all-important holiday season shopping period and if there has been any impact from growing industry competition.

More reading

• ASX 200 drops 0.9%
• Mesoblast (ASX:MSB) share price soars 14% on clinical trial results
• Broker thinks these 6 ASX energy shares could go higher
• Why the QBE (ASX:QBE) share price is in focus today
• ASX 200 down 0.4%: Afterpay tumbles, bank shares lower, gold miners crash

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 ZIPCOLTD FPO. 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 A2 Milk Company Ltd (ASX: A2M) share price was out of form on Monday and tumbled lower again.

The infant formula and fresh milk company’s shares dropped 3% to $10.62.

This means the a2 Milk share price is now down almost 50% from its 52-week high of $20.05.

Why is the a2 Milk share price sinking lower?

Investors have been selling the company’s shares over the last few months after COVID-19 had a negative impact on its sales and profits.

After benefiting greatly from panic buying and pantry stocking at the height of the pandemic, demand for its infant formula has softened over the last couple of quarters.

But the greatest impact has come in the daigou channel. This is where Chinese tourists and students buy products and send them back to China at inflated prices.

With international travel coming to a standstill, daigou sales have fallen heavily and put a big dent in the company’s earnings. In fact, the extent of the decline was even greater than expected and led to a2 Milk having to downgrade its guidance recently.

The company is expecting to deliver revenue of NZ$670 million in the first half of FY 2021. This is a 7.5% to 13.5% reduction on its previous guidance range of NZ$725 million to NZ$775 million.

Whereas for the full year, management now expects revenue to be in the range of NZ$1.4 billion to NZ$1.55 billion. The mid point of this guidance range is down 18% to 22.3% from its previous guidance range of NZ$1.8 billion to NZ$1.9 billion.

The company has also lowered its margin expectations and is now forecasting an earnings before interest, tax, depreciation and amortisation (EBITDA) margin of 26% to 29% for FY 2021. This is down from 31% previously.

Based on the mid point of both guidance ranges, this represents EBITDA of NZ$405.6 million in FY 2021. This would be down a sizeable 26.2% from FY 2020’s EBITDA of $549.7 million.

What else is weighing on its shares?

Also weighing on its shares has been a recent broker note out of Ord Minnett.

According to the note, the broker has retained its lighten rating and lowered its price target on the company’s shares to $9.90.

It reduced its price target and lowering its earnings estimates to reflect the tough trading conditions it is facing.

One possible positive, though, is that the company is sitting on a sizeable cash balance. With its share price trading close to a 52-week low, the broker has suggested that capital management initiatives could be considered.

More reading

• These are the 10 most shorted shares on the ASX
• Why a2 Milk, AVZ Minerals, Nanosonics, & Premier Investments are dropping lower
• Here’s why the A2 Milk (ASX:A2M) share price was hammered in 2020
• These are the 10 most shorted shares on the ASX
• These were the best performing ASX 200 shares last week

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended A2 Milk. 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 ASX materials sector dipped a collective 1.06% today and these 3 mining companies – all with strong buy ratings – fell right along with it. Let’s take a closer look. 

Westgold Resources Ltd (ASX: WGX) 

The Westgold Resources share price took an 8.65% hit today, closing at $2.43. This is in contrast to the company’s previous six-month performance which has seen Westgold shares shoot close to 13% higher. 

According to its investor presentation in December for the financial year ending 30 June 2020, the company boasted a 131% gain in its profit per share. Revenue also zoomed up, increasing 18% to $492.3 million for the period.

The Institutional Brokers Estimates System (IBES) currently rates Westgold Resources a strong buy with a positive outlook. 

Perseus Mining Limited (ASX: PRU)

Perseus Mining also dropped more than 8% to close at $1.19. The mining company finished 2020 as one of the all-around S&P/ASX 200 Index (ASX: XJO) top performers for 2020.

Fortunately for Perseus, the company recently announced pouring its first gold 5 weeks ahead of schedule at its Yaouré Gold Mine in West Africa. This supports the company’s expectation to ship its first gold from the Yaouré mine site during the March 2021 quarter.

Similar to Westgold, the IBES currently rates Perseus Mining a strong buy with a positive outlook. 

Silver Lake Resources Limited (ASX: SLR)

Silver Lake Resources also took a hit today, sliding 5.69% to close at $1.74. Some may consider it just a slight dent given the company has roared 30% higher over the previous 12-month period. 

In its most recent quarterly activities report, Silver Lake reported a quarterly group production of 62,262 ounces of gold along with 424 tonnes of copper. The company also invested $6.6 million in exploration during the reported quarter to “advance high-grade projects within established and proven mineralised corridors proximal to established infrastructure”. 

Silver Lake’s current status with the IBES is a strong buy rating with a neutral outlook.

More reading

• ASX 200 down 0.4%: Afterpay tumbles, bank shares lower, gold miners crash
• ASX 200 rises 0.7% on Friday
• ASX 200 rose 1.6%
• Why Nick Scali, Nitro Software, Silver Lake, & Xero shares are dropping lower
• Do ASX mining companies carry the Australian share market?

Motley Fool contributor Gretchen Kennedy 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 Vection Technologies Ltd (ASX: VR1) share price retreated from an intraday high of 14.5 cents to close flat at 13.5 cents today – the same price it opened at this morning. This comes after the tech company announced the launch of an augmented and mixed reality (XR) interface for computer aided design (CAD) software through its 2021 Mindesk suite.

In today’s release, Vection said it will officially launch its Mindesk suite at the world’s biggest tech stage, CES 2021. The annual event brings the biggest names together to display their latest technology. It is being conducted online through the organiser’s media hub this year due to COVID-19.

Mindesk in a nutshell

Mindesk is a Vection subsidiary based in California that develops a real-time 3D design platform for use by designers, architects, engineers and CAD users.

The company enables users to design projects from CAD through a XR interface without the need to export. In addition, users can seamlessly switch their workflow between XR and desktop, editing and collaborating on demand.

New Mindesk 2021 suite

Previously, Mindesk’s Live Link supported the use of CAD software in a virtual reality environment, negating the need for programming skills and time-consuming export and configuration processes.

However, with the latest Mindesk release, the platform now includes Microsoft Hologens 2, Varjo XR1, and Varjo XR3. This new interface lets engineers and designers to place a virtual hologram of their model next to their workstation. The program is operated by mouse and keyboard, or by a 6DOF XR controller.

Developed to meet demanding requirements in the digital work space, Vection said that Mindesk XR application was “a milestone breakthrough”. Users can project the image which will allow them to take note of 3D assemblies, simulations, or point clouds.

One of many potential applications that Mindesk can be integrated within is the automotive industry. Modelling a 3D car in XR can effectively cut significant time in any rework for design concepts, thus bringing the product faster to market.

Management commentary

Vection director and Mindesk subsidiary CEO Gabriele Sorrento, said:

VR has been increasingly accepted by enterprises in the past two years. However, Mixed Reality now offers the opportunity to reach a wider professional audience.

We directed our efforts at breaking down the latest barriers of adoption of VR. The natural blend of mixed reality with existing professional tools and practices makes the transition to the XR not just seamless, but undelayable.

Vection managing director Gianmarco Biagi, added:

We are pleased to participate in the world’s biggest annual consumer electronics show, the CES 2021, presenting the breakthrough integration of XR in the Vection Technologies’ Mindesk software, a pivotal advancement of the company’s strategy around disruptive tools for design and engineering.

As the company progresses its global growth strategy, it continuously strives to develop disruptive technologies to cement a unique software suite, generating value for all stakeholders, toward wider product adoption in a fast-pacing high growth market segment.

More reading

• Why the Vection (ASX:VR1) share price has surged 9% today

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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If you’re wanting to construct a balanced portfolio, having a few blue chip ASX shares in there could be a smart move.

This is because blue chips tend to be companies that are well-known, long-established, and have strong financial positions. In other words, they are not going anywhere any time soon and should allow investors to make long term investments that benefit from compounding.

With that in mind, listed below are two ASX blue chip shares that come highly rated:

Cochlear Limited (ASX: COH)

The first blue chip to look at is Cochlear. It is one of the world’s leading hearing solutions companies and has delivered strong sales and profit growth over the last decade.

The good news is Cochlear appears well-positioned to continue this trend over the next decade. This is thanks to its strong market position, leading technology, the industry’s high barriers to entry, and its exposure to the ageing populations tailwind.

In respect to the latter, by 2050 there are forecast to be 1.5 billion people over the aged of 65. This will be almost triple the number of over 65s in 2010 and bodes well for demand for its product portfolio.

Analysts at Macquarie are fans of the company. They have been looking into the industry and believe the company is winning market share in the United States. Macquarie has an outperform rating and $241.00 price target on its shares. This compares to the latest Cochlear share price of $182.93.

Goodman Group (ASX: GMG)

Goodman Group is an integrated commercial and industrial property group. It owns, develops, and manages industrial real estate in 17 countries.

Goodman has been growing at a solid rate over the last decade thanks to the diversity of its operations and its exposure to quick growing markets such as ecommerce. This has resulted in strong demand from blue chip customers such as Amazon, Coles Group Ltd (ASX: COL) and Walmart, which appears to have positioned Goodman for sustainable growth over the 2020s.

One broker that is positive on its growth prospects is Morgan Stanley. It has been pleased with Goodman’s development work, high occupancy rates, and the yields it is commanding. In light of this, it has an overweight rating and $20.90 price target on its shares. This compares to the current Goodman share price of $18.07.

More reading

• 3 quality SaaS ASX shares to buy
• How this ASX REIT finished 2020 in positive territory
• Infinite games: 3 ASX shares with long-term visions
• 2 ASX blue chip shares tipped as buys for 2021
• 3 ASX shares to buy for 2021 and beyond

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 Cochlear Ltd. The Motley Fool Australia has recommended Cochlear Ltd. 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 Cobalt Blue Holdings Ltd (ASX: COB) share price has rocketed to a 52-week high today, after the company responded to the ASX regarding its share price movements recently.

In today’s mid-session release, the company denied any knowledge of insider information that might have caused the share price to surge recently, notably a 14% spike on 8 January.

Following the release, the Cobalt Blue share price shot up 42% to 35.5 cents before closing at 34 cents.

Why did the Cobalt Blue share price surge today?

On 8 January, Cobalt Blue received a “please explain” from the ASX after shares in the company jumped almost 14% despite no news being announced.

The company today advised that it was “not aware of any explanation for the price change and increase in volume in the securities of Cobalt Blue, other than as referred to in previous ASX announcements”.

However, the company noted there were a number of factors that could explain investor interest in Cobalt Blue securities.

The company said that cobalt was a critical ingredient for high-performance lithium-ion batteries, which in turn are used globally to power electric vehicles (EV) and energy storage systems (ESS).

As many countries move towards clean energy, more subsidies on EV vehicles are being rolled out. These are significant, effectively subsidising between 20% to 35% of the purchase price of EVs in the European Union, for example – and turning the bloc into the largest global market in EV.

The company also said that the upcoming Biden Clean Energy plan in the United States includes a US$400 billion investment supporting the roll out of 25 million EVs, which will be another tailwind for the company.

In addition, the cobalt market has increased significantly from US$12/lb in April 2020, to more than US$19/lb at this time. It believes the cobalt price is on track to retrace its four-year longer-term average price of US$25/lb.

And finally, Cobalt Blue says that its Broken Hill-based Pilot Plant is on track to operate from February 2021, as already announced to the market on 21 December 2020.

About the Cobalt Blue share price

Before today’s surge, the Cobalt Blue share price has risen by almost 78% in the last 12 months. Including today’s move, the share price has increased 115% in that period.

The Cobalt Blue commands a market valuation of around $61 million.

More reading

• ASX 200 drops 0.9%
• Mesoblast (ASX:MSB) share price soars 14% on clinical trial results
• Fund manager tips 2 booming ASX miners for 2021 uranium bull market
• These 2 ASX healthcare shares popped today
• Ex-COO of ASX giant arrested in Sydney

Motley Fool contributor Eddy Sunarto 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 S&P/ASX 200 Index (ASX: XJO) fell by almost 0.9% today to 6,697 points.

Here are the highlights from the ASX:

Mesoblast Limited (ASX: MSB)

The Mesoblast share price went up 14% today after giving the market an update.

It announced today additional results from the landmark DREAM-HF randomised controlled phase 3 trial in 537 treated patients with chronic heart failure with reduced left ventricular ejection fraction (HFrEF) who received rexlemestrocel-L or control shame.

Mesoblast explained that a single dose of rexlemestrocel-L resulted in substantial and durable reductions in heart attacks, strokes and cardiac deaths.

The ASX 200 company said that existing therapies have only minimal or no benefit on these endpoints, these notable outcomes may signal a breakthrough in addressing the principal unmet needs in patients with chronic heart failure.

Based on the observed reduction in mortality and morbidity in this phase 3 trial, Mesoblast intends to meet with the FDA to discuss a potential approval pathway.

Magellan Financial Group Ltd (ASX: MFG)

The Magellan share price went up 1.4% after updating the market with its funds under management (FUM) for December 2020.

The fund manager revealed that its total FUM fell from $103 billion to $101.4 billion. The main part of the decline was a $2 billion decline of FUM in the global equities strategy.

Magellan said that, in December, it experienced net inflows of $579 million, included net retail inflows of $327 million and net institutional inflows of $252 million.

The ASX 200 fund manager reported that it is entitled to performance fees of approximately $12 million for the six months ended 31 December 2020. It stated that performance fees may fluctuate significantly from period to period.

Average FUM for the six months ended 31 December 2020 was almost $101 billion, this compares to average FUM of $92.8 billion for the six months ending 31 December 2019.

Magellan stated that the average exchange rate between the Aussie dollar and the US dollar for the six months ended 31 December 2020 was 0.7234, compared to 0.6848 for the six months ending 31 December 2019.

Shaver Shop Group Ltd (ASX: SSG)

The Shaver Shop share price went up 11.3% today after the grooming business gave a trading update and profit guidance for the first half of FY21.

Shaver Shop said that the sales for the second quarter of FY21 increased by 12.4% in total and 13.7% growth of like for like sales. Online sales growth was 64.7% in the second quarter, and this was the primary driver of sales.

FY21 first half online sales grew 102% helped like for sales grow by 17.3% and total sales went up 15.2%. Online sales represented 30.3% of total sales in the first half.

The gross profit margin is expected to increase by more than 200 basis points across the first half of FY21. The company tried to balance volume growth and profit margins.

FY21 first half net profit is expected to be between $13.5 million to $14 million, compared to $7.6 million in the prior corresponding period.

Shaver Shop managing director and CEO Cameron Fox said: “Our teams across Australia and New Zealand have remained focused and resilient and have consistently delivered exceptional customer service during an incredibly uncertain time. With in-store sales conversion more than 50% and average transaction values increasing more than 10%, our store teams were able to more than offset the 20% plus decline in outside foot traffic we saw in December.

“We expect our first half profit to increase 75% to 85% when we release our results in February and we are on track to deliver another record profit for the full year.”

More reading

• Mesoblast (ASX:MSB) share price soars 14% on clinical trial results
• Why the QBE (ASX:QBE) share price is in focus today
• ASX 200 down 0.4%: Afterpay tumbles, bank shares lower, gold miners crash
• The latest ASX “buy” recommendations from top brokers
• Why the SelfWealth (ASX:SWF) share price is on the rise this morning

Motley Fool contributor Tristan Harrison 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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