Shares in waste management company Bingo Industries Ltd (ASX: BIN) are down 0.3% to $3.11 at the time of writing after an announcement Bingo has successfully completed its $73 million retail entitlement offer.
Bingo announced valid applications for $62 million with approximately $6 million subscribed for under the oversubscription facility – equating to a high take-up rate of approximately 86%
Bingo recently reported growth of 44.8% for FY18 pro forma net profit after tax before amortisation of acquired intangibles to $48.2 million with revenue growth of 44.5% to $303.8 million.
Investors responded well to Bingo’s initial announcement it would acquire Dial A Dump for $577.5 million – funded by an overall $425 million entitlement offer and an issue of new Bingo shares to vendors on the acquisition’s completion.
Fellow waste management Cleanaway Waste Management Ltd’s (ASX: CWY) share price surged after the release of its FY18 results.
Sector cousin Sims Metal Management Ltd (ASX: SGM) shares have bottomed out of late down a further 1% to $12.49 at the time of writing with a solid FY18 result on August 24 failing to impress investors.
It's been a nail-biter of a reporting season here in the first half of 2018.
But the real action, in my opinion, is what companies are doing with dividends.
What does this mean for you? Well there is one stock I've found that could very well turn out to be THE best buy of 2018. And while there's no such thing as a 'sure thing' when it comes to investing - this ripper might come as close as I've ever seen.
Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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.