The Motley Fool

3 results you might have missed on Friday

It was another busy day of results releases with the likes of Star Entertainment Group Ltd (ASX:SGR) delivering a strong profit result and Costa Group Holdings Ltd (ASX: CGC) providing weaker than expected guidance.

Three results you might have missed are summarised below:

The MYOB Group Ltd (ASX: MYO) share price tumbled a touch over 2% lower on Friday to $3.05 after the accounting software company revealed a first-half net profit after tax of $25.3 million on revenue of $218.5 million. While MYOB’s revenue rose 7% on the prior corresponding period, net profit after tax was down 10%. However, the company reported an impressive 61% in online subscribers to 492,000 and management remains confident that it will hit 1 million by 2020.

The Sims Metal Management Ltd (ASX: SGM) share price dropped almost 7% to $13.76 despite the scrap metal company posting a strong full year result. Sims posted an underlying net profit after tax of $192.1 million in FY 2018, up 60% on the prior corresponding period. Investors may have been spooked by management’s outlook for FY 2019 which included a warning about the potential negative impact of global trade wars.

The Tassal Group Limited (ASX: TGR) share price rose 3.5% to $4.54 after it announced its full year results and the acquisition of Fortune Group’s prawn aquaculture business for $30.3 million. In FY 2018 the salmon and seafood producer delivered a 13.1% increase in revenue to $509.5 million and a 19.2% increase in operational net profit after tax to $51.3 million. Management appeared to be pleased with the result and its prospects in FY 2019. It stated that: “This result, and the growth in live salmon biomass which was up 1,200 tonnes, puts Tassal in the best position it’s ever been in to deliver attractive long-term growth for our customers and shareholders.” This should be supported by today’s acquisition which is expected to be highly accretive to earnings. Tassal could be one to watch in FY 2019.

NEW. The Motley Fool AU Releases Five Cheap and Good Stocks to Buy for 2020 and beyond!….

Our experts here at The Motley Fool Australia have just released a fantastic report, detailing 5 dirt cheap shares that you can buy in 2020.

One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Another is a diversified conglomerate trading over 40% off its high, all while offering a fully franked dividend yield over 3%...

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click here or the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.

CLICK HERE FOR YOUR FREE REPORT!

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended COSTA GRP FPO. 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.