It was another busy day of results releases on Tuesday with the likes of BHP Billiton Limited (ASX: BHP) and Super Retail Group Ltd (ASX: SUL) reporting their numbers.
With so many releases coming in a few are bound to have slipped under the radar. Three strong results that you might have missed are summarised below:
Asaleo Care Ltd (ASX: AHY)
This personal care products company's shares jumped 12% to 79.5 cents after turning in a better than expected half-year result. Asaleo Care announced underlying EBITDA of $46.3 million and underlying net profit after tax of $17.8 million. While this was down heavily on the prior corresponding period, many were expecting even worse. Things weren't quite so positive on a statutory basis, with the company recording a statutory net loss after tax of $101.5 million. The statutory result includes non-cash non-recurring charges of $148.5 million relating to impairment and write-down of assets in its Tissue Australia and New Zealand Personal Care business.
Bingo Industries Ltd (ASX: BIN)
This morning this fast-growing waste management company reported pro forma net profit after tax before amortisation of acquired intangibles growth of 44.8% to $48.2 million on revenue growth of 44.5% to $303.8 million. While this was a strong result, it wasn't the biggest thing Bingo announced today. The company advised that it plans to acquire Dial A Dump Industries for $577.5 million. This will be funded by a $425 million entitlement offer and an issue of new Bingo shares to vendors at completion of the acquisition. Management anticipates EBITDA growth in the underlying business of approximately 15% to 20% in FY 2019. Bingo is one of my favourite mid cap shares on the local market and I feel this result and its acquisition plans demonstrates why.
EML Payments Ltd (ASX: EML)
The EML Payments share price rose 6% to $1.79 on Tuesday after it reported a 23% increase in revenue to $71 million. This strong result was driven largely by its expanding presence overseas. In fact, 75% of its revenues are now generated offshore. Another positive is that 92% of its revenues are recurring in nature, creating a strong platform for growth. EBITDA increased by 43% to $20.8 million, with all regional business units generating EBTDA growth and improving against the prior year.
