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.
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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 Emerchants Limited and Super Retail Group 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.