Last week was another busy one with a number of Australia's most popular companies releasing their respective results.
Here's a summary of five of the most noteworthy results from last week:
A2 Milk Company Ltd (ASX: A2M)
This infant formula and fresh milk company delivered a strong result in FY 2019. It reported a 41.4% increase in revenue to NZ$1,304.5 million and a 46.1% increase in EBITDA to NZ$413.6 million thanks to strong demand for its infant formula in China and the expansion of its fresh milk footprint in the United States. However, whilst this was a very strong result, it didn't quite live up to the market consensus estimate of NZ$420.6 million and its shares were sold off.
Altium Ltd (ASX: ALU)
The Altium share price raced higher last week after the market responded positively to the design software company's full year results. In FY 2019 the company continued its strong form and posted a 22.6% increase in full year revenue to US$171.8 million and a 41.1% increase in net profit after tax to US$52.9 million. Management appears confident in its outlook and reiterated its aim of growing its revenue to US$500 million by FY 2025.
Costa Group Holdings Ltd (ASX: CGC)
This horticulture company disappointed the market again when it released its half year results. Although Costa delivered an 11.8% increase in revenue, it posted a 15% decline in statutory net profit after tax to $41.1 million. But perhaps worst of all, was management warning that the continuation of challenging trading conditions means there is a risk that it could fall short of its calendar year guidance.
SEEK Limited (ASX: SEK)
In FY 2019 this job listings company delivered an 18% lift in revenue to $1,537.3 million and a 6% increase in EBITDA to $455 million. Management expects a stronger profit result next year and has provided revenue growth guidance in the range of 15% to 18% and EBITDA growth guidance in the range of 8% to 11%.
WiseTech Global Ltd (ASX: WTC)
One of the strongest results last week came from this logistics solutions company. WiseTech Global recorded a 57% increase in total revenue to $348.3 million and a 33% lift in net profit after tax to $54.1 million in FY 2019. Pleasingly, management expects another strong result in FY 2020. It provided guidance for revenue growth of 26% to 32% and EBITDA growth of 34% to 42%.
