Thursday was one of the busiest days of earnings season so far with results coming in from blue chips including insurance giant QBE Insurance Group Ltd (ASX: QBE), healthcare star Sonic Healthcare Limited (ASX: SHL), and telco behemoth Telstra Corporation Ltd (ASX: TLS).
In light of this, several results understandably slipped under the radar. Here are three you might have missed:
Beacon Lighting Group Ltd (ASX: BLX)
The shares of this retailer of lighting, ceiling fans, and light globe products fell 4% on Thursday despite posting a 17.7% increase in net profit after tax to $19.6 million. Sales rose 9.7% during FY 2018 thanks to a 1.6% increase in comparable store sales and the addition of new stores. Investors may have hit the sell button after management advised of flat comparable store sales during the first 7 weeks of FY 2019.
GWA Group Ltd (ASX: GWA)
This supplier of building fixtures and fittings saw its shares rise 2.6% to $3.58 on Thursday following the release of its full-year results. GWA reported a net profit after tax of $53.7 million on revenue of $446.3 million. This was an increase of 4.3% and 1.5%, respectively, on FY 2017’s result. According to the release, GWA’s revenue growth was driven by a positive performance from its Bathrooms & Kitchens segment, which grew ahead of the market growth. Pleasingly, management spoke positively about FY 2019. With the pipeline of building work yet to be completed in the residential construction market still at reasonably high levels, it expects demand for its brands to remain strong in FY 2019.
RXP Services Ltd (ASX: RXP)
The shares of this information and communications technology consulting services company surged 8% higher yesterday despite reporting a 33% decline in net profit after tax to $7.8 million. Although the year was disappointing, investors appear to be pleased with its improved performance in the final quarter. The strong momentum is expected to be carried over into FY 2019, with management confident that it will achieve double digit earnings growth.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Telstra Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.