Earnings season may be drawing to a close, but the results came in thick and fast on Tuesday.
Three that may have slipped under the radar are summarised below:
The Bathurst Resources Ltd (ASX: BRL) share price rose 9.5% to 11.5 cents after the coal miner reported an underlying profit after tax of $43.4 million in FY 2018. This compares to a profit of $1.1 million in FY 2017 and was driven by strong production from its South Island and North Island operations and increased sales. Coal sales rose strongly thanks to new sales contracts which have continued to support the extension of its Canterbury mine. In addition to this, the company announced an on-market buyback of up to 75 million shares.
The Regis Resources Limited (ASX: RRL) share price ended the day 5% higher at $4.19 after posting a record profit after tax of $174.2 million. This was an increase of 26% on last year’s result and was driven by a 14% increase in gold sales volumes and a reduction in its all-in sustaining costs to $901 an ounce. No guidance was given for FY 2019, but investors appear to be confident of more of the same this year.
The Salmat Limited (ASX: SLM) share price surged 10.5% higher to 73 cents after the marketing services provider reported revenue of $250.2 million and underlying EBITDA of $20.3 million. Although this was a decline of 3.2% and an increase of just 0.5%, investors appear to believe that the company will perform better in FY 2019 following the conclusion of its strategic review. In its outlook management stated that: “While FY18 saw some significant change to the Group, FY19 represents a fresh opportunity to revitalise Salmat’s Marketing Solutions business and drive further growth in Managed Services. We have a well-defined path to innovate our existing capabilities and extend Salmat’s reach and market share.”
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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 Blackmores Limited. The Motley Fool Australia owns shares of Appen Ltd. 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.