Are these the 5 biggest disappointments of reporting season?

The benchmark S&P/ASX 200 (INDEXASX: XJO) fell 0.1% in August, indicating that reporting season failed to impress investors who had been hoping for spectacular growth to justify companies’ lofty valuations. While there were a number of companies which performed well, here are some of the companies which largely underwhelmed.

  1. BHP Billiton Limited (ASX: BHP) received a lot of publicity due to its demerger announcement. However, tumbling iron ore prices and its failure to announce a share buyback program have seen its shares tumble 7.7% since peaking at $39.74 just prior to its results announcement.
  2. Breville Group Ltd (ASX: BRG) shares hit a wall following its results and are now sitting 16.9% lower. The home appliance maker not only announced a slight dip in full-year net profit but also the unexpected announcement of the resignation of the group’s CEO.
  3. A poor result was always expected from Coca-Cola Amatil Ltd (ASX: CCL) which has been battling a strong Aussie dollar, inflationary pressures in Indonesia and an aggressive pricing war with rival Schweppes. However, shares have dropped to a new five-year low following warnings that these tough conditions will continue for the foreseeable future.
  4. Nine Entertainment Co Holdings Ltd (ASX: NEC) had been touted by many experts as a strong ‘Buy’ leading into reporting period. While the group announced a 95.2% decrease in full-year net profit (impacted by one-off items), it also reported a slow start to FY15 and forecast a 5%-10% fall in local advertising revenue in the first quarter.
  5. A 23% rise in total sales revenue and an 18% rise in net profit wasn’t enough to please shareholders of Ainsworth Game Technology Limited (ASX: AGI) who sold the stock down 12% for the month. While the result was indeed impressive, it wasn’t enough to meet the market’s high expectations.

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Motley Fool contributor Ryan Newman owns shares in Coca-Cola Amatil Ltd.

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