On Thursday a large number of companies including online travel agent Webjet Limited (ASX: WEB) and conglomerate Wesfarmers Ltd (ASX: WES) released their latest results.
With so many results being released, a few will no doubt have slipped under the radar.
Three results of note that you may have missed are summarised below:
Mineral Resources Limited (ASX: MIN)
This mining and mining services company's shares fell 5% on Thursday after its half year results fell short of the market's expectations. During the first half the company posted EBITDA of $72 million after factoring in a $30 million unrealised accounting loss on its investment in lithium miner Pilbara Minerals Limited (ASX: PLS). This was an 80% decline on the prior corresponding period. Even excluding this unrealised investment loss Mineral Resources' EBITDA was down 59% on the prior corresponding period. This led to the company's board slashing its interim dividend by 48% to 13 cents per share. Production delays and lower pricing were largely to blame for the poor half.
Santos Ltd (ASX: STO)
The Santos share price pushed slightly higher on Thursday after it posted a record full year underlying profit of US$727 million and record free cash flow of $1,006 million. This was driven by an 18% increase in product sales to US$3,660 million and a 6% reduction in underlying production costs to US$7.62 a barrel. A final fully franked dividend of 6.2 U.S. cents per share was declared, bringing its full year dividend to 9.7 U.S. cents per share.
Sydney Airport Holdings Pty Ltd (ASX: SYD)
This airport operator's shares rose 2% yesterday after it announced a record full year result. Total revenue came in 6.8% higher at $1,584.7 million and EBITDA rose 7.2% to $1,282.6 million. During the 12 months the average EBITDA per passenger metric grew 4.5% to $28.90. The airport's CEO, Geoff Culbert, advised that the strong result was driven by "another year of strong passenger numbers, an excellent performance across our non-aeronautical businesses, efficient capital investment and tightly controlled costs." Management advised that it intends to pay a 39 cents per security distribution in FY 2019.
