Friday certainly was a busy day of earnings releases. Highlights included the strong result from banking giant Australia and New Zealand Banking Group (ASX: ANZ) and a not so great result from health insurer Medibank Private Ltd (ASX: MPL).
With so many results being released, unsurprisingly several slipped under the radar. Here are three which I felt were worth a mention:
The Jumbo Interactive Ltd (ASX: JIN) share price jumped 7% to $1.78 after the OzLotteries website operator smashed its guidance and reported a 28.5% jump in half-year net profit after tax to $2.6 million. In December the company had forecast half-year revenue of $2 million. Even though revenue slid 9%, a drop in marketing and administration expenses led to a big improvement in its margins and increased profitability.
The MICHAELHLL FPO (ASX: MHJ) share price rose slightly on Friday after the jewellery retailer posted a 3.4% increase in half-year net profit after tax to $25.75 million. Although its operations in Australia and Canada performed well, the company’s U.S. stores continued to disappoint. During the half its U.S. segment saw same store sales fall 9.3%, resulting in a $1.1 million loss. I wasn’t overly impressed with the result and would suggest investors avoid Michael Hill for the time being.
The Rhipe Ltd (ASX: RHP) share price plunged 20% to 38.5 cents after the cloud channel company posted first-half EBITDA of $684,000. Investors may be doubtful that the company will deliver on its full-year underlying EBITDA guidance of $8 million. Whilst I do like Rhipe, its shares do look a little on the expensive side at the moment. Because of this investors may be able to find better value elsewhere.
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