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These 4 shares were the worst performers on the ASX 200 in February

Yesterday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) pushed 0.3% higher to finish the month at 6,169 points. This small gain brought its monthly return to a sizeable 4.9%.

Unfortunately, a number of shares on the benchmark index not only failed to follow it higher but sank considerably lower.

Four of the worst performers on the ASX 200 in February were as follows:

The Syrah Resources Ltd (ASX: SYR) share price continued its poor run and crashed 32% lower in February. This graphite miner’s shares were strong performers in January thanks to a series of positive announcements. But they gave back all their gains and more following the release of a quarterly update which revealed pricing and cost guidance for FY 2019 that was well short of the market’s expectations.

The Blackmores Limited (ASX: BKL) share price wasn’t too far behind with a decline of 28% last month. The health supplements company’s shares were sold off after it released a very disappointing half year result. Although Blackmores posted record half year revenue of $319 million, its net profit after tax came in flat at $34 million. Furthermore, due to slowing sales growth in China, management warned that its profit result in the second half would be lower than the first. Traditionally the second half has been the stronger half. Adding to the disappointment was the news that its CEO has resigned out of the blue this week.

The Pact Group Holdings Ltd (ASX: PGH) share price sank a sizeable 26% lower during February. The packaging company’s shares came under pressure last month after it recognised a non-cash impairment charge of $327 million after tax in its first half results. This led to a statutory net loss after tax of $320 million for the six months. Management made the impairment charge to reflect challenging trading conditions and a moderated long-term outlook for Pact’s Australian businesses, which has resulted in the use of more conservative assumptions regarding growth and discount rates.

The McMillan Shakespeare Limited (ASX: MMS) share price was a poor performer in February, falling over 21% during the month. Investors were quick to hit the sell button last month after the salary packaging, novated leasing, and fleet management company’s half year results fell short of expectations. For the six months ended December 31, McMillan Shakespeare posted a 1.2% increase in revenue to $273.1 million and a 3.9% decline in half year UNPATA to $42.6 million. Weakness in its Asset Management and Retail Financial Services segments weighed on its performance.

Finally, if you need a lift after these declines then now could be a good time to check out these blue chip shares which have been tipped as potential market beaters.

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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. 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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