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The Polynovo Ltd (ASX: PNV) share price is having a pretty pleasing day of trade this Thursday. At present, Polynovo shares are up an encouraging 2% at $2.04 each.

That compares well against the S&P/ASX 200 Index (ASX: XJO), which is also in the green, but by 0.76% at about 7,051 points. So a market-beating kind of day for Polynovo shares.

But today is just a warm-up act. Because all eyes will be on this ASX healthcare company tomorrow when it reports its full-year earnings for the 2022 financial year.

Now, we obviously can’t predict what is going to happen to Polynovo shares tomorrow from where we stand today. They could go up, go down, or stay flat. But what we can do is take a look at what happened to the Polynovo share price the last time this company reported earnings.

What happened to the Polynovo share price last earnings season?

So Polynovo’s last reporting date with ASX investors was back on 25 February of this year. That was when the company dropped its half-year results for FY2022, which covered the six months to 31 December 2021.

As we covered at the time, the company reported a 41.9% surge in revenue to $18.15 million. That led to Polynovo announcing an underlying profit after tax of $1.618 million. That was up from the previous year’s loss of $3.57 million.

However, the company still reported a net loss after tax of $1.7 million when non-cash items were excluded.

So how did Polynovo shares react to these earnings? Well, it was an interesting tale.

Upon the release of this report on Friday 25 February, the Polynovo share price ended the trading day with a loss of 3.77%. The following Monday saw the company lose another 1.96%, but the next day the company gained an impressive 10%.

Now this experience in no way tells us what exactly will happen with the Polynovo share price tomorrow. If the results are above the market’s expectations, the shares will, in all likelihood, go up. If they are below expectations, the shares might fall. But it’s still an interesting insight into what can happen during earnings season.

At the current Polynovo share price, this ASX 200 healthcare share has a market capitalisation of $1.35 billion.

The post How did the Polynovo share price respond last time the company reported? appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most heavily traded ASX 200 shares on Thursday
• Pepper Money shares continue to soar; trades on annualised 8.8% fully franked dividend yield
• Nine Entertainment hikes full-year dividend by 33% as profits surge higher
• Domino’s share price sinks 7%, giving back most of Wednesday’s gains
• What’s going on with the Qantas dividend in 2022?

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 POLYNOVO 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 Scott Phillips.

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The All Ordinaries Index (ASX: XAO) is enjoying a solid day, up 0.6% in afternoon trading.

But this All Ords gold share is leaving those gains in the dust.

The Predictive Discovery Ltd (ASX: PDI) share price is up 10.5% to 21 cents per share.

At that price, the All Ords gold share has a market cap of $359 million.

Here’s what’s piquing ASX investor interest today.

What are ASX investors considering?

Predictive Discovery shares are soaring after the company announced another round of “impressive gold hits”.

The results come from continuing resource drilling at its Bankan Gold Project, located in Guinea.

The All Ords gold share reported that it had completed eight new infill and resource expansion diamond drill holes totalling 4,064 metres of the NE Bankan Gold Deposit.

Among the top results, one diamond drill hole returned 43 metres at 4.88 grams of gold per tonne from 304 metres, including 20m at 7.54g/t Au from 326 metres, including 4m at 16.53g/t Au from 342 metres.

Predictive Discovery also reported on the results of 73 reverse circulation (RC) drill holes, with one returning 12m at 1.08/t Au from 7 metres.

Commenting on the drill results sending the All Ords gold share rocketing today, Predictive Discovery managing director Andrew Pardey said:

Predictive’s next phase of drilling, which is focused on further defining the quality and extending the fast-growth resource of the NE Bankan gold deposit, continues to prove up the significance of what is the largest gold discovery in West Africa for over a decade.

As we continue to drill out our assets and move towards the development phase of the project, we are also highly encouraged by the consistency and quality of the resource through our initial grade control drilling at NE Bankan.

Bankan currently has an inferred Resource of 79.5 million tonnes at 1.63g/t Au for 4.2 million ounces of gold.

The gold miner reported it has ten rigs continuing Resource expansion and infill drilling at NE Bankan, Bankan Creek and near-mine exploration programs.

How has this All Ords gold share been tracking?

Although the Predictive Discovery share price is down 24% in 2022, the All Ords gold share remains up 46% over the past 12 months. That compares to a full-year loss of 7% posted by the All Ordinaries.

Comparing apples to apples, the S&P/ASX All Ordinaries Gold Index (ASX: XGD) has lost 20% over the past 12 months.

The post Why did this ASX All Ords gold share just surge 11%? appeared first on The Motley Fool Australia.

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More reading

• Which crypto is ASX 300 tech company Appen holding and why?
• Allkem share price higher following massive FY22 profit growth
• 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
• Have Sayona Mining shares been a good investment in 2022?

Motley Fool contributor Bernd Struben 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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Most investors would be soaking up the core operational details of Appen Ltd (ASX: APX) today. However, an unexpected mention of ‘crypto’ during the data annotation company’s earnings call might have caught some off guard.

In afternoon trade, shares in the beleaguered S&P/ASX 300 Index (ASX: XKO) constituent are fetching $4.19 apiece, up 0.48%. Although, the market was looking upon Appen even more fondly in early trading, reaching an intraday high of $4.57.

So, has Appen’s management taken a leaf out of Elon Musk’s playbook — investing in crypto? Or is there another explanation for why Appen and crypto were mentioned in the same sentence?

Is Appen an ASX-listed crypto investor?

During Appen’s earnings call today, one analyst asked a very interesting question. Instead of it being about profits, revenue growth, or even guidance… it probed for an explanation as to why Appen was talking about crypto in its financial statements.

Posing the question was Bell Potter senior analyst Chris Savage, who asked:

In the notes, there was a loss on revaluation of inventory and you called out cryptocurrency. Have you actually invested in crypto, or are you getting paid in crypto, what’s the story there?

Savage was referring to a line item in Appen’s financials labelled ‘losses on inventory’. The expense made for accounting purposes amounted to $275,000. Considering there hasn’t really been much mention of Appen being involved with crypto before, the appearance is puzzling.

Yet, Appen chief financial officer Kevin Levine quickly explained, saying:

First, it’s a very small part of the business and it came alongside the Quadrant acquisition. So, actually one of the key strengths that Quadrant has in terms of how they manage their crowd is they actually pay their crowd in crypto.

From there, Levine went on to explain the benefits of operating with crypto, stating:

There are two benefits of that: the first is near real-time settlement. The second one is micropayments — because a lot of the tasks that geolancers perform are very small, [involving] very small amounts; and so it can handle kind of micropayments without necessarily imposing fees, etc. on to the recipients.

Finally, the CFO of ASX-listed Appen revealed that the crypto asset it mainly holds for this activity is Ethereum (CRYPTO: ETH). According to the company’s filing, the stablecoin USD Coin (CRYPTO: USDC) is also in its arsenal.

Foolish takeaway

In conclusion, Appen in a way is an ASX-listed investor of Ethereum. However, by the comments made during the earnings call, it doesn’t seem to be for the sake of an alternative investment.

Both Appen and crypto hold a commonality, though. Both are down massively compared to a year ago. Undoubtedly, shareholders and crypto holders alike will be hoping for better days to come.

The post Which crypto is ASX 300 tech company Appen holding and why? appeared first on The Motley Fool Australia.

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More reading

• Appen share price rockets then stalls on US$9m half-year loss
• Appen share price on watch as interim dividend scrapped
• Earnings preview: Here are the ASX shares reporting today
• The Appen share price is down 20% in a month. Is it going lower?
• Why A2 Milk, Appen, Boral, and REA shares are dropping today

Motley Fool contributor Mitchell Lawler has positions in Appen Ltd and Ethereum. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Appen Ltd and Ethereum. The Motley Fool Australia has positions in and has recommended Ethereum. 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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In afternoon trade, the Allkem Ltd (ASX: AKE) share price is edging higher.

At the time of writing, the lithium miner’s shares are up almost 1% to $14.00.

This means the Allkem share price is now up almost 14% this week.

Why is the Allkem share price rising?

The Allkem share price is rising today after investors responded positively to the company’s full year results for FY 2022.

For the 12 months ended 30 June, Allkem reported revenue of US$770 million and a gross profit of US$605 million. This represents a 9x and 13x increase, respectively, over the prior corresponding period.

This was driven by a combination of factors including sky high prices and the merger with Galaxy Resources.

In respect to the former, Allkem averaged US$2,221 per tonne for its spodumene and US$23,398 per tonne for its lithium carbonate. This represents a 435% and 370% increase, respectively, over the same period last year.

Mt Cattlin production guidance downgrade

One slight disappointment that could be holding back the Allkem share price a touch today was its production outlook for the Mt Cattllin operation.

It has downgraded its Mt Cattlin lithium spodumene production guidance for FY 2023 from the range of 160,000 to 170,000 tonnes to 140,000 to 150,000 tonnes. This reflects recent results from the operation, as well impacts from on-going labour shortages in Western Australia.

The post Allkem share price higher following massive FY22 profit growth appeared first on The Motley Fool Australia.

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More reading

• Allkem share price on watch amid a record year
• Earnings preview: Here are the ASX shares reporting today
• Why is the Allkem share price charging 6% higher?
• Here are the top 10 ASX 200 shares today
• Why is the Allkem share price acing it on Tuesday?

Motley Fool contributor James Mickleboro has positions in Allkem 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 Coles Group Ltd (ASX: COL) share price has dropped 6% since investors had a good look at the company’s FY22 results released yesterday.

For investors who didn’t catch it, the business reported ongoing growth in revenue and profit.

Let’s have a quick reminder of how Coles performed in the last financial year.

Coles earnings recap

Coles said its total revenue increased 2% to $39.4 billion. Its net profit after tax (NPAT) went up 4.3% to $1.05 billion and the earnings per share (EPS) increased 4.6% to 78.8 cents.

However, it also revealed that earnings before interest, tax, depreciation, and amortisation (EBITDA) went up 0.2% to $3.44 billion. Earnings before interest and tax (EBIT) fell 0.2%.

Part of the update included the progress made on its ‘smarter selling’ benefits. It noted it achieved $230 million of benefits in FY22 and it’s on track to deliver its four-year program of $1 billion in benefits by FY23.

There was a bit of a difference in performance between the three core divisions.

In terms of year-over-year sales growth, supermarkets saw 2.2% growth to $34.6 billion, liquor saw 2.5% growth to $3.6 billion, and Coles Express saw a sales decline of 5% to $1.1 billion.

However, in EBIT terms, supermarket EBIT rose by 0.8% to $1.71 billion, liquor EBIT fell 1.2% to $163 million, and Coles Express EBIT dropped 37.3% to $42 million.

What do experts make of the results and the Coles share price?

Ratings agency S&P thinks Coles’ profit margin will hurt due to rising food costs, labour costs, and supply chain and energy prices combining to cause difficulties, according to reporting by The Australian.

S&P is expecting Coles’ adjusted EBITDA to be “broadly flat” in FY23.

S&P analysts Sam Playfair and Craig Parker said:

The company’s ability to pass on supplier calls for price increases, and higher food and operating costs, to inflation-hit consumers will determine whether it can maintain stable EBIT margins.

We expect discretionary spending to be spread thin during fiscal 2023 as consumers opt for more affordable items. As a result, we expect the challenge to remain competitive on price will rise.

Cost-conscious consumers will hunt cheaper products; and this competition may cause promotional activity to rise, affecting EBIT margins and free cash flow. Under this scenario, we believe Coles would likely prioritise maintaining market share above profitability.

However, other experts are positive on the business.

For example, the broker Morgans rates Coles as add, with a share price target of $20. It likes that Coles’ earnings are pretty defensive, which means it should be able to do well even if the economy goes through some difficulties.

The broker Citi also rates Coles shares a buy, with a price target of $20.10. It noted that Coles has been gaining market share recently.

Don’t forget the dividend

I think that one of the most underrated parts about Coles shares is the dividend.

The dividend has been steadily growing since 2020. The FY22 full-year dividend was increased by 3.3% to 63 cents after a 7.1% rise in the final dividend to 30 cents per share.

At the current Coles share price, that translates into a grossed-up dividend yield of 5.1%. I think that’s a solid starting yield, with broker expectations of dividend growth in the coming years.

The post Is the Coles share price a buy following the company’s latest results? appeared first on The Motley Fool Australia.

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More reading

• Why Audio Pixels, Coles, EML, and Nanosonics shares are sinking today
• Coles shares trade on fully-franked yield of 3.5% after reporting higher profits
• Coles share price slides 5% as inflation hampers FY23 growth outlook
• 5 things to watch on the ASX 200 on Wednesday
• Own Coles shares? Here’s what to expect from the supermarket giant’s FY22 results

Citigroup is an advertising partner of The Ascent, a Motley Fool company. 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 COLESGROUP DEF SET. 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 another pleasing day of green ink for the S&P/ASX 200 Index (ASX: XJO) so far this Thursday. At the time of writing, the ASX 200 has gained a healthy 0.74% to around 7,050 points. No doubt that will be welcomed by investors who have watched the markets dip heavily this week.

But let’s dig deeper into these market moves and check out the ASX 200 shares currently topping the market’s trading volume charts, according to investing.com.

The 3 most traded ASX 200 shares by volume this Thursday

Qantas Airways Limited (ASX: QAN)

First up today is ASX 200 airline and national aviation icon Qantas. So far today, a decent 19.14 million Qantas shares have departed for a new destination. This one is fairly easy to figure out.

It’s almost certain that the high volumes we are seeing are a consequence of the company’s pleasing 5.73% rise to $4.80 a share so far. Qantas dropped its full-year earnings report for FY2022 this morning, which investors have clearly taken a shine to.

Pilbara Minerals Ltd (ASX: PLS)

Next up this Thursday, we have ASX 200 lithium share Pilbara Minerals. So far today, a weighty 29.95 million Pilbara shares have been bought and sold on the markets. There’s been no new news out of the company today.

However, Pilbara shares have been in the spotlight ever since its own earnings announcement was released on Tuesday this week, which might still be influencing volumes today. The company enjoyed two days of solid gains until now, but Pilbara shares are flat at present after some bouncing around and are now going for $3.47 each.

Paladin Energy Ltd (ASX: PDN)

Finally this Thursday we have ASX 200 uranium share Paladin Energy. An eye-catching 38.81 million Paladin shares have swapped hands as it currently stands on the ASX today. This one is a rather strange case. There hasn’t been any news out of Paladin recently.

But, as my Fool colleague Bernd covered this afternoon, that hasn’t stopped most ASX uranium shares from catching fire. Paladin itself is up a pleasing 10.88% at 82 cents each. This could be related to the recent announcement that the Japanese government is looking at restarting several nuclear reactors to shore up its power supplies.

The post Here are the 3 most heavily traded ASX 200 shares on Thursday appeared first on The Motley Fool Australia.

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More reading

• Pepper Money shares continue to soar; trades on annualised 8.8% fully franked dividend yield
• Why is the Paladin Energy share price rocketing 13% today?
• Nine Entertainment hikes full-year dividend by 33% as profits surge higher
• Why Deep Yellow, IDP, Pendal, and Qantas shares are soaring today
• Domino’s share price sinks 7%, giving back most of Wednesday’s gains

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 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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Have Sayona Mining Ltd (ASX: SYA) shares been a good investment in 2022? Good question.

The Sayona Mining share price has certainly been keeping a comfortable space in the midst of investors’ minds over this year so far.

This emerging ASX lithium share often makes an appearance on the daily lists of the most traded ASX shares, helped no doubt by the volatile share price movements that have come to define its presence on the ASX.

But let’s dig into the weeds of this company and see which investors (if any) the Sayona share price has benefitted.

How happy have Sayona Mining shares made ASX investors?

At the start of 2022, Sayona Mining shares were going for just 14 cents each. Today, the lithium share is trading at 29 cents a share. This represents a whopping year-to-date performance of 108.6%.

If an investor was lucky enough to buy shares back in February, when the company touched its current 52-week low of 11 cents, they would be sitting on a pleasing gain of more than 165% right now.

In fact, Sayona was going for as little as 13 cents a share back on 12 July. That means the company has gained more than 124% in the six weeks or so since that date.

However, that doesn’t paint the whole picture. Back in April, Sayona shares hit what is now the company’s 52-week high of 39 cents a share. If an investor was unlucky enough to pick up some shares then, they would be nursing a loss of around 25% right now.

But they have been making longer-term investors happy as well. Just to be silly, let’s take an investor who picked up shares back on New Year’s Eve, 2020. Back then, Sayona shares were asking just 1 cent each. That would place them at a jaw-dropping gain of 2,820% on today’s pricing.

So we can probably conclude that the Sayona share price has been very kind to most of its investors over 2022, and further back. However, investors who FOMO-ed in at the company’s highs are still likely nursing heavy losses. Something to keep in mind.

At the current price, this ASX lithium share has a market capitalisation of $2.38 billion.

The post Have Sayona Mining shares been a good investment in 2022? appeared first on The Motley Fool Australia.

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More reading

• Why did the Sayona Mining share price beat the ASX All Ords on Tuesday?
• Why is the Sayona Mining share price surging 8% on Friday?
• Why is the Sayona Mining share price so volatile?
• Why are ASX lithium shares having such a cracking start to the week?
• Why is the Lake Resources share price up so much more than other ASX lithium shares today?

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 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 share market can throw up some surprises each day.

One example is what happened with buy now, pay later provider Zip Co Ltd (ASX: ZIP) on Thursday.

In the morning the company revealed its 2022 financial year results. Zip sheepishly reported loss from ordinary activities after income tax of $1.1 billion.

Not only was this loss 63% higher than last year, but at the start of trade on Thursday the market capitalisation of the entire business was only $667 million.

That means, in just one year, Zip managed to lose 165% of its market cap.

Imagine if Apple Inc (NASDAQ: AAPL) reported that it just made a $6.4 trillion loss in 12 months. Would you be horrified?

Yet as I write this, the Zip share price is up 2.06%.

How bizarre.

I’ve changed, baby, I promise

One explanation for investors’ enthusiasm is the rhetoric coming from the company about adapting to changed market conditions.

Zip chief executive Larry Diamond has acknowledged multiple times in recent weeks how the tide has turned against loss-making growth companies. In response, his team is accelerating the business’ journey towards positive cash flow.

That same message was repeated on Thursday.

“We changed strategy and shifted to delivering sustainable growth, right-sizing our global cost base and accelerating the path to profitability,” he said.

“To that end, I want to share that we have already delivered on a number of initiatives to reduce cash burn, manage credit losses and improve unit economics.”

One of the big reforms is withdrawing out of unprofitable markets and focusing on the core Australian and US businesses.

In fact, the $1.1 billion loss included $821 million worth of impairment, with much of that the goodwill for closed offshore operations and acquisitions.

According to Diamond, closing the UK business would go a long way to stemming the cash bleed.

He has also promised to weed out bad credit throughout the business.

Can’t get any worse?

To be honest, Diamond doesn’t have much choice but to signal a strategic pivot. The Zip share price has plummeted in recent times.

The stock is down 77% year-to-date. It’s an eye-watering 92% loss if you go back 18 months.

Perhaps investors have backed the BNPL provider on Thursday with the attitude that it can’t get any worse. 

“Our ability to pivot and adapt to the new world, showcases the resilience and viability of our business model as we focus on the opportunity ahead in FY23,” Diamond said.

The post Zip’s FY22 loss is 165% of its market cap. So why did its shares go up? appeared first on The Motley Fool Australia.

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More reading

• Zip share price lifts despite $1 billion loss for FY22
• Earnings preview: Here are the ASX shares reporting today
• How did the Zip share price respond last time the company reported?
• Looking to buy Zip shares? Here’s what to look for in tomorrow’s results
• Why is the Zip share price sinking 5% on Monday?

Motley Fool contributor Tony Yoo 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 Apple and ZIPCOLTD FPO. 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 recommended Apple. 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 very busy day of result releases on the All Ordinaries index on Thursday.

Not all have been received well by investors. For example, three All Ords shares that are falling in response to their results are listed below. Here’s how they performed:

City Chic Collective Ltd (ASX: CCX)

The City Chic share price has crashed a whopping 19% to $1.99 following the release of the plus sized fashion retailer’s results.

While City Chic revealed a 39% increase in revenue to $369.2 million and a small increase in net profit after tax to $22.3 million, this was overshadowed by its inventories and cash flow.

The company revealed that its inventory position almost tripled year over year from $67 million to $196 million and its operating cash flow swung from positive $15.2 million to negative $51.9 million.

Mount Gibson Iron Limited (ASX: MGX)

The Mount Gibson share price is down 6% to 40.5 cents after the iron ore miner’s full year results disappointed.

For the 12 months ended 30 June, the company revealed ore sales revenue of $131.1 million. However, due to an impairment and a sharp drop in volumes and the realised price of its iron ore, the company record a loss after tax that was even greater than revenue at $174.1 million. This is down from a $64 million profit a year earlier.

Excluding the $184.6 million impairment, Mount Gibson’s loss before tax would still have been a disappointing $63.6 million.

SKYCITY Entertainment Group Limited (ASX: SKC)

The SkyCity share price is down over 2% to $2.61 following the release of this casino and resorts operator’s full year results.

SkyCity had a tough 12 months, leading to its revenue falling 32.9% to NZ$639 million. Things were even worse on the bottom line, with the company recording a reported net loss after tax of NZ$33.6 million. Management blamed this poor performance on a material impact from COVID-19 disruptions.

Pleasingly, the company has started FY 2023 strongly and sees a clear pathway to profit.

The post 3 ASX All Ords shares sliding following earnings updates appeared first on The Motley Fool Australia.

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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 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) is trading in the green on Thursday, buoyed by results from many shares that call it home.

Earnings season is in full swing this week, with some of the market’s biggest names releasing results. Here are three shares recording notable gains on the back of their recent performance.

Insignia Financial Ltd (ASX: IFL)

The Insignia Financial share price is soaring 11% today to trade at $3.53. Its gain comes after the financial services provider posted an underlying net profit after tax (NPAT) of $234.5 million for financial year 2022. That represents a whopping 59% year-on-year improvement.

It also posted a $3.1 billion improvement in platform flows and an 11.8-cent final dividend.

The company’s CEO Renato Mato commented, saying:

Our results demonstrate we are pursuing the right strategy and implementing it with focused and accelerated execution.

The company, formerly known as IOOF, realised benefits of its recent acquisition of MLC. Integration of the business is now expected in 18 months, rather than the three years previously anticipated.

Viva Energy Group Ltd (ASX: VEA)

ASX 200 share Viva Energy is also trading in the green on the back of its half-year earnings today. The stock has gained 0.9% to trade at $2.815 at the time of writing.

The energy company posted $611.7 million of earnings before interest, tax, depreciation, and amortisation (EBITDA) – a 139% increase on that of the prior corresponding period. Its NPAT also lifted 218% to $355.4 million while its sales volumes rose 5%.

CEO and managing director Scott Wyatt commented:

Viva Energy’s diversified business model has continued to provide resilience to volatile market conditions. Exposure to global refining markets and a diverse range of commercial segments within Australia has provided significant growth and offsets softer conditions in the Retail market.

Cromwell Property Group (ASX: CMW)

Finally, shares in ASX 200 real estate and fund manager Cromwell are trading 0.25% higher at 79.2 cents. The stock is also gaining on the back of financial year 2022 earnings.

Cromwell CEO Jonathan Callaghan commented on the company’s results, saying:

I’m pleased to report a solid result, with management activities undertaken throughout the year focused on building the foundations for our renewed vision. We are fully committed to pivoting Cromwell to become a simpler and more capital efficient business with a greater focus on driving securityholder returns through funds and asset management

The company reported $568.8 million of revenue – a 4.4% year-on-year loss – as well as $263.2 million of profit – down 14.6%. Its full-year dividends also dropped by half a cent to 6.5 cents per share.

Speaking on its outlook, Callaghan said:

Similar to FY22, the current financial year will be one of change as we continue to simplify the business and focus on reallocating capital from non-strategic investments to new opportunities which will drive growth in our funds management platform.

The post 3 ASX 200 shares in the green following earnings updates appeared first on The Motley Fool Australia.

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More reading

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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 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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