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If you’re looking for new investment options for next week, then the two ASX shares listed below could be worth considering.

Both are highly rated by analysts at Goldman Sachs and tipped to generate strong returns for investors. Here’s what the broker is saying about these ASX shares:

Hipages Group Holdings Ltd (ASX: HPG)

The first ASX share that Goldman Sachs has just recommended investors buy is Hipages.

It is a leading ANZ-based online platform and software as a service (SaaS) provider connecting consumers with trusted tradies.

Goldman Sachs believes the company has a huge long term growth opportunity. It commented:

Longer term, we believe HPG presents a compelling long growth opportunity as it builds out an essential ecosystem of services for tradies.

In addition, the broker feels the Hipages share price is cheap considering its strong growth potential.

Valuation is supportive relative to global marketplace peers. HPG is trading on 13.9x FY23 EV/EBITDA vs. the median of marketplace peers trading on 15.3x. In our view this does not capture the medium term growth potential of the business: we forecast a 29% EBITDA CAGR (FY22-25E) vs. the median of peers at 14%; we also believe HPG can deliver solid operating leverage over the longer term as the business scales.

Goldman has a buy rating and $2.10 price target on the company’s shares. This compares favourably to the current Hipages share price of $1.55.

IDP Education Ltd (ASX: IEL)

Another ASX share that the broker is tipping as a buy is IDP Education. It is a leading language testing and student placement provider.

Goldman was very impressed with the company’s FY 2022 results and believes it shows that IDP is becoming the dominant force in English-speaking markets. It said:

We believe IEL’s FY22 result reflected 1) operational excellence by managing costs whilst preparing capacity for a strong rebound of students into Australia; and 2) material progress towards becoming the dominant student placement provider into English-speaking markets, including leveraging technology to build a growing presence in the US.

As with Hipages, the broker feels that its shares are cheap considering its strong growth prospects.

IEL is trading c.40% below its 5-yr average P/E premium to the ASX200 Industrials with a forecast 37% FY22-25E EPS CAGR, we remain Buy-rated. We have upgraded EPS in FY23/FY24 by 1.7%/0.8% on the back of the stronger FY22 result, continued strong revenue growth and margin expansion. The balance sheet is in a resilient position with c.A$40mn of net cash to facilitate any bolt-on acquisitions or ramp up in organic investment in new offices and technology.

Goldman has retained its buy rating with an improved price target of $36.00. This compares to the latest IDP Education share price of $28.89.

The post Goldman Sachs names 2 ASX shares to buy right now appeared first on The Motley Fool Australia.

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More reading

• ASX’s best day in a fortnight; US Fed in focus. Scott Phillips on Nine’s Late News
• Here are the top 10 ASX 200 shares today
• Why Deep Yellow, IDP, Pendal, and Qantas shares are soaring today
• Hipages share price sinks as ‘perfect storm’ hits profit
• IDP Education share price leaps 11% as revenue surges in FY22

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 Hipages Group Holdings Ltd. and Idp Education Pty Ltd. The Motley Fool Australia has positions in and has recommended Hipages Group Holdings Ltd. 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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Andrew ‘Twiggy’ Forrest is known for his foray into ASX-listed investments. On Friday afternoon, the Fortescue Metals Group Limited (ASX: FMG) chair added another S&P/ASX All Ords Index (ASX: XAO) member to his list of holdings.

This time around — instead of dairy products, seafood, or boots — Twiggy is tipping his fortunes into rare earths. These are the metals used to create the magnets used in the motors of electric vehicles and wind turbines.

Which ASX All Ords share is it?

The ASX company in question is Hastings Technology Metals Ltd (ASX: HAS). After returning from a trading halt, shares on Friday surged 15% to $4.94 apiece — a pleasing sight for shareholders.

According to the release, the rare earths explorer has entered into a binding share purchase agreement to acquire part of Neo Performance Materials Inc. Notably, Neo is the owner of the only commercially operational rare earth separation facility in Europe.

The deal will see Hastings grab 8,974,127 shares in the Canadian-listed Neo at a total value of $150 million. This will mean the ASX All Ords share will own 22.1% of the total shares on issue in Neo following the acquisition.

So, you might be thinking: where does Twiggy come into the picture? Well, as part of the announcement, Hasting revealed a $150 million investment from Wyloo Metals, which is part of Forrest’s investment holding company, Tattarang.

The rationale behind Hasting taking a stake in Neo is to potentially create a vertically integrated rare earths company. As the ASX-listed company puts it, a ‘mine-to-magnet’ value chain. Furthermore, this is in anticipation of Europe becoming a major hub of electric vehicle production in the future.

The deal for Twiggy

Regarding the $150 million investment from Wyloo Metals, here are the important details:

• The investment is for $150 million in exchangeable notes
• Term is over three years
• Convertible for Hastings shares at $5.50 apiece
• Wyloo is entitled to nominate a director to the Hastings board

Coincidentally, the news breaks on the same day that Lynas Rare Earths Ltd (ASX: LYC) revealed record results.

The Hastings share price has outperformed the ASX All Ords over the past year. On Friday afternoon, the company’s shares are 23.5% above where they were a year ago. Meanwhile, the All Ordinaries is down 5.3% over the same timeframe.

The post Guess which ASX All Ords share rocketed 15% on a rare earths deal with Twiggy Forrest appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• Fortescue share price rises ahead of Monday’s earnings result
• Lynas share price lifts off on rocketing FY22 profits
• Lynas share price on watch after 244% profit jump, doubling revenue
• Could the winds of change be blowing for Fortescue shares?

Motley Fool contributor Mitchell Lawler has positions in Lynas Corporation Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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 Scott Phillips.

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The S&P/ASX 200 Index (ASX: XJO) recovered its losses from earlier this week today to trade flat week-on-week. The index closed Friday’s session 0.79% higher at 7,104.10 points.

That leaves it within 11 points of where it finished last week’s trade following a disastrous 2% tumble over Monday and Tuesday.

All except one of the ASX 200’s 11 sectors closed higher today. The S&P/ASX 200 Communication Index (ASX: XTJ) was alone in the red, slipping 0.3%.

The S&P/ASX 200 Energy Index (ASX: XEJ) was the top performer, soaring 1.3% despite oil prices falling overnight. The Brent crude oil price slipped 1.9% to US$99.34 a barrel while the US Nymex crude oil price fell 2.5% to US$92.52 a barrel.

The S&P/ASX 200 Materials Index (ASX: XMJ) also rose 1% despite a falling iron ore price. Iron ore futures slumped 0.2% overnight to trade at $104.96 a tonne. Meanwhile, gold futures lifted 0.6% to US$1,771.40 an ounce and all base metals majors ended in the green.

Looking to ASX 200 earnings:

• The Wesfarmers Ltd (ASX: WES) share price rose 0.65% after the company posted a $2.3 billion full-year profit
• Ramsay Health Care Limited (ASX: RHC) shares fell 3.3% on a $274 million profit and a reneged takeover offer

So, which ASX 200 share outperformed all others to be crowned this week’s final top performer? Keep reading to find out.

Top 10 ASX 200 shares countdown

Coming in as Friday’s biggest gainer was none other than the Bega Cheese Ltd (ASX: BGA) share price. The stock surged 12% despite the company posting a 69% year-on-year fall in profits.

Today’s biggest gains were made by these ASX shares:

ASX-listed company	Share price	Price change
Bega Cheese Ltd (ASX: BGA)	$4.18	11.76%
Viva Energy Group Ltd (ASX: VEA)	$2.95	6.88%
Qantas Airways Limited (ASX: QAN)	$5.18	6.58%
Life360 Inc (ASX: 360)	$5.27	4.98%
Champion Iron Ltd (ASX: CIA)	$5.50	4.17%
Pilbara Minerals Ltd (ASX: PLS)	$3.55	4.11%
Insignia Financial Ltd (ASX: IFL)	$3.67	3.97%
Fortescue Metals Group Limited (ASX: FMG)	$19.87	3.81%
Breville Group Ltd (ASX: BRG)	$22.41	3.27%
Flight Centre Travel Group Ltd (ASX: FLT)	$17.07	3.14%

Our top 10 ASX 200 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

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More reading

• Brokers name 3 ASX shares to buy today
• Here are the 3 most heavily traded ASX 200 shares on Friday
• Here’s everything you need to know about the latest Bega dividend
• Fortescue share price rises ahead of Monday’s earnings result
• Why Bega Cheese, Jumbo, Pilbara Minerals, and Qantas shares are rising

Motley Fool contributor Brooke Cooper 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 Life360, Inc. The Motley Fool Australia has positions in and has recommended Wesfarmers Limited. The Motley Fool Australia has recommended Flight Centre Travel Group Limited and Ramsay Health Care Limited. 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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The Universal Store Holdings Ltd (ASX: UNI) share price slid into the red today following the release of the company’s FY22 results.

At the close on Friday, Universal Holdings shares were down 2.9% for the day, swapping hands at $5 apiece.

Universal Store revenue, profit down in FY22

Key standouts from the company’s earnings results include:

• Total Sales of $208.0 million, down 1.4% from last year’s result
• Online sales totalling $35.7 million, up 38% year on year and a margin of 17%
• Gross profit down 2.1% to $121.3 million, reflecting a margin of 58.3%
• Underlying earnings before interest and tax (EBIT) of $30.9 million, down 29% year on year
• Statutory net profit after tax (NPAT) of $20.6 million, down 15% year on year
• Underlying earnings per share (EPS) of 28.9 cents
• Final dividend of 10.5 cents per share, bringing total FY22 dividend to 21.5 cents per share

What else happened for Universal?

Despite COVID-19 headwinds, the company came in with a fairly steady result, with total sales declining 1.4% to $208 million.

However, most of the downside was experienced in H1 of FY22, with an overall sales growth of 7.4% in H2 FY22.

Meanwhile, online sales saw double-digit growth of 28.5%, eventually contributing a total of around 17% to total sales.

Despite this, statutory and underlying NPAT each decreased year on year by 15% and 30%, respectively.

Universal also declared a final dividend of 10.5 cents per share, fully franked, bringing the total FY22 dividend to 21.5 cents.

Management commentary

Speaking on the results, Universal Store CEO Alice Barbery said:

Despite lingering COVID-19 challenges during the year, I’m proud of how our team has responded,
culminating in a pleasing FY22 result.

FY22 was a tale of two halves with H1 impacted heavily by mandated store closures and evolving variants of COVID-19, including a challenging Christmas and new year period with the emergence of Omicron. Conditions in H2 progressively recovered with sales and foot traffic improving month on month as restrictions eased and social events and gatherings re-emerged.

Barbery said Universal Store continued “to evolve into a larger, more sophisticated, and more robust business following successful implementation of various key strategic initiatives and investments”.

What’s next for Universal Store?

The company says that FY23 has already started strong, with total sales already up 54% on this time last year to $12.5 million.

It also says that fewer lost store days would be of benefit to earnings in FY23. Moreover, B&M Store sales growth reached 70% on this time last year, and it expects to open five new stores in H1 FY23.

It did not provide specific earnings guidance.

The post Universal Store share price slides lower as earnings tighten in FY22 appeared first on The Motley Fool Australia.

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More reading

• ‘Recession-like levels’: Why ASX retail shares could still be in for a bumpy ride

Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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 Scott Phillips.

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It turned out to be a dream end to the trading week for the All Ordinaries Index (ASX: XAO) on Friday. At the market close, the All Ords index had gained a healthy 0.7% to finish at 7,345.8 points.

But it was an even better session for some All Ords shares, largely thanks to the ongoing avalanche of earnings reports.

So let’s check out three All Ords shares that saw major share price action on the back of FY22 earnings.

Three All Ords shares with big price moves on Friday

Cobram Estate Olives Ltd (ASX: CBO)

Cobram Estate shares had a very pleasing day of trading this Friday. The All Ords olive oil producer rocketed 8.93% to close at $1.525 a share. This morning, Cobram announced $140 million in group sales for FY22, which puts the company at a 49% market share of extra virgin olive oil in Australian supermarkets.

However, total revenue fell 44.3% from FY21 to $165.5 million. Earnings before tax (EBT) also fell by 49.5% to $2.5 million. On the bottom line, Cobram reported a net loss after tax of $0.7 million, down from the $35.2 million profit reported for FY21.

Peter Warren Automotive Holdings Ltd (ASX: PWR)

Next up is automotive dealership company Peter Warren. Peter Warren shares initially bounced as high as $2.67 this morning — a 5.1% gain — but finished the day up 0.79% at $2.56. This follows the company dropping its FY22 earnings this morning, too. 

For FY22, Peter Warren reported revenue growth of 5.6% to $1.71 billion. Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) rose 20.4% to $130.1 million, while profits before tax also rose by 6.8% to $80.8 million.

Superloop Ltd (ASX: SLC)

Superloop shares also saw some major price action today. But unlike the other ASX All Ords shares here, this one disappointed investors. Superloop shares closed the day down a nasty 5.63% at 75.5 cents each.

Clearly, the market didn’t like what the company had to say this morning about FY22.

Superloop reported revenue growth of 137% for FY22 to $262.5 million. Underlying EBITDA was also up significantly, rising 37% to $25.4 million.

However, the company’s gross margin fell from 27.6% in FY21 to 23.5% in FY22. Superloop’s net loss after tax widened to $52.6 million for the financial year, up 82.5% from FY21’s loss of $32 million.

The post 3 ASX All Ords shares that saw major price action on FY22 results appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• Universal Store share price slides lower as earnings tighten in FY22
• City Chic share price dives another 12% in dire week
• Brokers name 3 ASX shares to buy today
• How does VGS stack up against other ASX index funds?

Motley Fool contributor Sebastian Bowen 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 PWR Holdings Limited and SUPERLOOP FPO. The Motley Fool Australia has positions in and has recommended PWR Holdings Limited. 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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The City Chic Collective Ltd (ASX: CCX) share price is currently down 10.3% at $1.79 today after trawling another 12% low for most of today. This means shares in the ASX-listed plus-sized apparel global retailer are now down by almost 30% since 24 August.

The ASX retail share has fallen hard after the release of the company’s FY22 results.

What did City Chic tell investors?

The company reported that sales rose by 39% to $369.2 million, with comparable sales growth of 25.5%. Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) went up 11.3% to $47.1 million. Underlying net profit after tax (NPAT) increased by 14.5% to $28.5 million.

City Chic also said that its global customer base increased 30% over the year to 1.4 million active customers, with growth in all regions.

Online comparable sales growth was 33.8%, with 82% online penetration. It said that 56% of its revenue came from the northern hemisphere. The ‘partner business’ grew to $30 million for FY22, with $22 million of that coming in the second half.

However, there was one factor that saw a big swing to a negative position. Operating cash flow sank from a positive $15.2 million in FY21 to negative $51.9 million in FY22. Management said there was a working capital increase of $90.3 million with an investment in inventory of $128.9 million.

City Chic said its inventory is expected to normalise in FY23. Inventory jumped from $67 million at 27 June 2021, to $125.7 million at 26 December 2021 and then up to $195.9 million at 3 July 2022. The company said that 48% of inventory is available for sale, while 52% is secured for release over future periods.

Management said that the inventory supported growth with reduced product cost and supply chain risk.

Outlook for FY23

City Chic said it expected another year of profitable growth, despite the ongoing global economic uncertainty. This was due to City Chic’s increasing market share across geographies and channels and the investments in its distribution infrastructure.

The company said that to hedge against anticipated promotional activity within the ‘plus market’, it would implement price increases where appropriate to mitigate the risk of ‘margin compression’.

In the first seven weeks of FY23, City Chic advised that trading was “broadly” in line with the prior corresponding period, with a return to positive momentum in August,

Australian stores were “trading above expectations and ahead of last year given the impact of store closures”. Australian online sales were below last year in the first two weeks of July but have performed well since, trading above last year.

The US market was “volatile”, with the City Chic website trading above last year, as better dressing demand remains “strong” and the Avenue website trading “below” last year, but showing week on week improvements. The UK “continued to show growth”.

Its partner business has “continued to perform well” and is expected to drive incremental revenue growth throughout FY23.

City Chic share price snapshot

Over the last month, the City Chic share price is down more than 25%. And City Chic shares have tanked 70% since the beginning of 2022.

The post City Chic share price dives another 12% in dire week appeared first on The Motley Fool Australia.

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More reading

• Why City Chic, Macquarie Telecom, Polynovo, and Smartgroup shares are sinking
• 3 ASX All Ords shares sliding following earnings updates
• Why City Chic, Flight Centre, Perpetual, and Woolworths shares are sinking
• City Chic share price plummets 13% as cash flow sinks in FY22
• Here are the top 10 ASX 200 shares today

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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 Scott Phillips.

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It has been another busy week for Australia’s top brokers. This has led to the release of a large number of broker notes.

Three broker buy ratings that you might want to know more about are summarised below. Here’s why brokers think these ASX shares are in the buy zone:

Coles Group Ltd (ASX: COL)

According to a note out of Citi, its analysts have retained their buy rating but trimmed their price target on this supermarket giant’s shares to $20.10. This follows the release of a full year result that fell a touch short of the broker’s expectations but ahead of consensus estimates. And while it notes that Coles’ Ocado and Witron costs are now expected to be higher, these should still be a big boost to earnings in the future once operational. Overall, the broker has seen enough to stay positive on the retailer. The Coles share price is trading at $17.65 today.

Domino’s Pizza Enterprises Ltd (ASX: DMP)

A note out of Morgans reveals that its analysts have retained their add rating but trimmed their price target on this pizza chain operator’s shares slightly to $90.00. The broker believes that Domino’s is over the worst of its issues now and that it is onwards and upwards from here. So much so, it is forecasting double-digit earnings growth in both FY 2023 and FY 2024. Outside this, the broker highlights that the engine of Domino’s growth is the rollout of new stores and feels that its medium-term opportunity is undiminished. The Domino’s share price is fetching $66.04 on Friday.

Qantas Airways Limited (ASX: QAN)

Analysts at UBS have retained their buy rating and lifted their price target on this airline operator’s shares to $6.80. According to the note, UBS was impressed with Qantas’ performance in FY 2022, with its results coming in well ahead of its estimates. In addition, with Qantas announcing a $400 million buyback, it feels this is an indication that management is confident in its outlook. The Qantas share price is trading at $5.16 this afternoon.

The post Brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

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More reading

• Why Bega Cheese, Jumbo, Pilbara Minerals, and Qantas shares are rising
• Is the Qantas share price a buy following the airline’s latest results?
• Here are the top 10 ASX 200 shares today
• Is the Coles share price a buy following the company’s latest results?
• Here are the 3 most heavily traded ASX 200 shares on Thursday

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 no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended COLESGROUP DEF SET. 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 Scott Phillips.

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When it comes to ASX-listed exchange-traded funds (ETFs), the Vanguard MSCI Index International Shares ETF (ASX: VGS) is a popular choice for international shares exposure. Along with the iShares S&P 500 ETF (ASX: IVV), VGS is consistently a top receiver of ETF inflows from ASX investors.

But how does this fund’s performance measure up to other ASX index funds?

The Vanguard International Shares ETF is an extremely broad and diverse fund. It holds almost 1,500 individual shares from more than 20 advanced economies around the world. These include countries like Canada, the United Kingdom, Japan, France, Germany, and Hong Kong.

But in practice, most of the VGS shares by weighting stem from the United States. The US accounts for 71% of VGS’s total portfolio weighting, on the latest numbers.

As such, one might recognise some of its top holdings. They include names like Apple Inc (NASDAQ: AAPL), Microsoft Corporation (NASDAQ: MSFT), Amazon.com Inc (NASDAQ: AMZN), and Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL).

How has the VGS shares ETF performed?

So let’s check out the Vanguard International Shares ETF’s performance metrics.

As of 31 July, VGS had returned a loss of 4.16% over the preceding 12 months. Over the past three years, the ETF averaged an annual return of 9.51%, which stretched to 12.15% over the past five years.

So how does that compare with other ASX-listed index funds?

Well, VGS looks good against ASX shares, for starters. Let’s take the performance of the popular Vanguard Australian Shares Index ETF (ASX: VAS).

VAS has given its investors a negative return of 2.24% over the year to 31 July 2022. Over the past three years, it has averaged 4.48% per annum, and 8.12% per annum over the past five. So certainly behind VGS.

What about other international ETFs?

Well, VGS’s metrics don’t look quite as rosy when compared to the US-only iShares S&P 500 ETF.

IVV has delivered a positive return of 0.24% over the 12 months to 31 July. It has also averaged 12.58% per annum over the past three years, and 15.61% over the past five.

But neither VGS nor IVV can hold a candle to another US-based index fund, the BetaShares NASDAQ 100 ETF (ASX: NDQ). NDQ is more concentrated than IVV, holding 100 of the largest companies on the tech-heavy NASDAQ exchange.

NDQ has returned a loss of 8.68% over the year to 31 July. But it has still averaged 17.95% over the past three years, and an impressive 20.69% over the past five.

So all in all, VGS has been a solid ASX performer in recent years, beating out the ASX-only VAS ETF. But it has not delivered the kinds of returns that either the iShares S&P 500 ETF or the BetaShares NASDAQ 100 ETF have managed to give their investors. Food for thought.

The post How does VGS stack up against other ASX index funds? appeared first on The Motley Fool Australia.

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John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Motley Fool contributor Sebastian Bowen has positions in Alphabet (A shares), Amazon, Apple, and Microsoft. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Alphabet (A shares), Alphabet (C shares), Amazon, Apple, BETANASDAQ ETF UNITS, Microsoft, and Vanguard MSCI Index International Shares ETF. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on Apple. The Motley Fool Australia has positions in and has recommended BETANASDAQ ETF UNITS. The Motley Fool Australia has recommended Alphabet (A shares), Alphabet (C shares), Amazon, Apple, Vanguard MSCI Index International Shares ETF, and iShares Trust – iShares Core S&P 500 ETF. 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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It’s been a big week in the August earnings season with scores of ASX businesses reporting their results. Today, these three ASX shares are taking off after their companies posted details of their FY22 profits.

Let’s take a look.

Slater & Gordon Limited (ASX: SGH)

The Slater & Gordon share price is up 9.57% to 63 cents today. This follows the law firm releasing its full-year FY22 results and a business update this morning.

The company said its results proved it had turned things around in the second half of FY22 after COVID-19 lockdowns caused problems in 1H FY22.

It reported a net profit after tax (NPAT) of $2.2 million for the full year. This was achieved from a net loss position of ($7.5 million) after 1H FY22. But the full-year result is well down on the $14.5 million of NPAT in the prior corresponding period (pcp).

The firm’s net asset position improved to $184 million, up from $180.5 million pcp.

Slater & Gordon CEO John Somerville said:

When we reported our half year results in February, we said we had started to see signs of improvement following the lifting of lockdowns and we are pleased that the second half saw the continuation of that trend with the business returning to deliver an overall profit for the year.

Our firm continues to make good progress on its improvement and growth plans, but we recognise we still have more work to do.

360 Capital Group Ltd (ASX: TGP)

The 360 Capital Group Ltd share price is soaring 10.12% today to 93 cents. This is also on the back of full-year FY22 results released today.

The company reported operating revenue of $53.9 million, up 157% pcp. Its operating profit was $30.9 million, up 240% pcp. Operating earnings per share (EPS) came in at 14.1 cents per share, up 236% pcp.

The group also announced a special dividend of eight cents per share payable on 7 October. Shareholders will receive this on top of the six cents per share in total ordinary dividends paid this year.

The company says its principal investing continues to drive profits. It has also simplified the business to focus on its core strengths of real estate investing and funds management.

Part of that simplification process was selling its 19.9% stake in Irongate Group to Charter Hall Group (ASC: CHC). It also bought certain assets as part of the transaction.

This improved the balance sheet. After settlement on 15 July, the company had more than $160 million in cash, no bank debt, and $49.4 million in liquid assets.

This provides “the opportunity to capitalise on market volatility and dislocation given the Group’s 16-year track record of real estate investing”.

Close The Loop Inc (ASX: CLG)

Close The Loop Inc is a relatively new entrant to the ASX. It began trading in December 2021.

As my colleague Sebastian reported at the time, the Close the Loop share price skyrocketed 55% on its first day of trading to a high of 31 cents. That’s well beyond its initial public offering (IPO) price of 20 cents.

The company describes itself as “an end-to-end solutions provider from design and manufacturing, through to collection and recycling of products”.

It released its full-year FY22 statutory accounts, a trading update, and an investor presentation today.

ASX investors appear to be very happy with what Close the Loop told them today, with the share price up 9.52% to 46 cents this afternoon.

It reported revenue of $89.2 million, which was 20.7% above the prospectus forecast and up 32.3% pcp. Its earnings before interest, tax, depreciation and amortisation (EBITDA) was $14.3 million, 16.3% above prospectus forecast and up 8.3% pcp.

The company said: “Strong organic revenue growth across all divisions contributed to significant earnings uplift.”

Close the Loop also made various acquisitions during the year. It increased its net tangible assets per share from 0.96 cents at 30 June 2021 to 7.31 cents at 30 June 2022.

Group CEO Joe Foster said:

Close the Loop Group’s strong performance in our first full year reporting period as an ASX-listed company has ensured we have achieved or exceeded key prospectus metrics and delivered on our strategic pillars.

We acquired complementary and earnings accretive businesses in Oceanic Agencies and Crasti & Co. and, in July, added Alliance Paper. These three acquisitions add to the cumulative power Close the Loop has in its ability as the only ASX-listed company operating in all parts in the circular economy – from product design, manufacturing, collection and recycling and then eventually recovering it as new packaging or secondary products, or simply packaging to packaging.

The post 3 ASX shares rocketing 10% on positive earnings updates appeared first on The Motley Fool Australia.

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Motley Fool contributor Bronwyn Allen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. 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 Scott Phillips.

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The Wesfarmers Ltd (ASX: WES) share price is in focus after the release of its FY22 results. Shareholders will want to know about the Wesfarmers dividend.

Wesfarmers says that it’s developing platforms to support long-term shareholder returns.

In the 2022 financial year, it said that revenue rose by 8.5% to $36.8 billion. Net profit after tax (NPAT) fell 1.2% to $2.35 billion and earnings per share (EPS) dropped 1.2% to 207.8 cents. Second half net profit after tax rose 13.1%.

Wesfarmers dividend

The Wesfarmers board decided to declare a fully franked final ordinary dividend of $1 per share. This represented an increase of 11.1% which reflected the “strong” net profit after tax in the second half of FY22.

Wesfarmers said that the ex-dividend date for the final dividend is 31 August 2022. The dividend is expected to be paid on 6 October 2022.

That brought the full year dividend to $1.80 per share, which was an increase of 1.1%.

There will be a dividend re-investment plan (DRP), but it won’t be underwritten. The shares are expected to be purchased on market. The last day for application for the DRP is 2 September 2022.

How did Wesfarmers decide on this dividend payment?

The company said that dividend distributions are determined based on franking credit availability, current earnings, cash flows, future cash flow requirements and targeted credit metrics.

Wesfarmers said that it’s maintaining its focus on maximising the value of franking credits for shareholders.

Cash flow and balance sheet

Wesfarmers reported that operating cash flow reduced 32% to $2.3 billion and free cash flow reduced 59.5% to $1.11 billion.

It said that divisional operating cash flow declined 14.2% to $4.1 billion, with divisional cash generation of 78%. This was due to retail net working capital movements due to ‘normalisation’ in inventory after temporarily low balances in FY20 and FY21, and the timing of supplier payments. There was also significantly higher utilisation of leave provisions.

Free cash flow was partly lower because of cash paid for the acquisitions of Australian Pharmaceutical Industries and Beaumont Tiles.

It finished with a net financial debt position of $4.3 billion.

Wesfarmers share price snapshot

Over the past six months, Wesfarmers shares have fallen by around 3%.

The post Everything you need to know about the latest Wesfarmers dividend appeared first on The Motley Fool Australia.

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• Wesfarmers share price edges higher ahead of Thursday’s results

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Wesfarmers Limited. 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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