With a number of high profile companies releasing their results on Thursday such as Suncorp Group Ltd (ASX: SUN) and Telstra Corporation Ltd (ASX: TLS), I suspect a few results may have flown under the radar of investors.
Three results that caught my eye are summarised below. Here’s how they performed in the first half:
Aventus Retail Property Fund (ASX: AVN)
In the first half of FY 2019 this big box-focused retail property fund achieved funds from operations of $47 million or 9.2 cents per security. This was a 6.3% and 1.9% increase, respectively, on the prior corresponding period. This solid result was driven by sustained high occupancy levels and a 3.3% increase in like for like net property income. In respect to the former, Aventus finished the period with an occupancy rate of 98.5%, with 16 out of its 20 centres reporting 100% occupancy. The Aventus board declared an 8.2 cents per security distribution.
Goodman Group (ASX: GMG)
This integrated property group’s half year result went down well with investors, leading to its shares climbing almost 4.5% on Thursday. In the first half of FY 2019 the company delivered an operating profit of $465 million, up 10.4% on the prior corresponding period. This was ahead of expectations and led to management upgrading its full year earnings per share guidance to 51.1 cents. It maintained its distribution guidance of 30 cents per share, which equates to a 2.4% yield at the current share price.
Integrated Research Limited (ASX: IRI)
This leading global provider of proactive performance management software for critical IT infrastructure, payments and communications ecosystems returned to form in the first half of FY 2019 with a strong result. It reported a record first half result with profit after tax increasing by 26% on the prior corresponding period to $11.7 million. This result was at the top end of the guidance it provided to the market at the start of January. The key driver of growth was its licence sales which increased by 22% to $31.3 million, driving total revenue growth of 10% to $50.3 million.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended AVENTUS RE UNIT and Integrated Research 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.
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