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3 ASX results you might have missed: Monash IVF, National Veterinary Care, & Propel

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The final week of earnings started with a busy day on Monday jam-packed with results releases from the likes of Boral Limited (ASX: BLD) and Fortescue Metals Group Limited (ASX: FMG).

Three results you might have missed are summarised below:

Monash IVF Group Ltd (ASX: MVF)

This fertility company’s shares fell 3.5% on Monday following the release of its full year results which revealed a 0.9% increase in revenue to $152 million and a 2.3% decline in underlying net profit after tax to $20.9 million. Whilst this was a soft result, it is worth noting that the company experienced a major improvement in its performance in the second half. So much so, net profit after tax rose 9.5% in the second half compared to the prior corresponding period. Another positive was that Monash IVF maintained its full year dividend at 6 cents per share, which equates to a 6.25% fully franked dividend yield.

National Veterinary Care Ltd (ASX: NVL)

This veterinary clinic operator’s shares pushed 4% higher yesterday after it posted a 43.6% increase in revenue to $118.4 million and a 37.9% jump in underlying net profit after tax to $8.89 million in FY 2019. This strong growth was driven largely by the company’s growth through acquisition strategy. During the period the company acquired no less than 32 businesses. Looking ahead, management expects underlying revenue growth of 20% and an EBITDA margin of 15.5% to 16% in FY 2020.

Propel Funeral Partners Ltd (ASX: PFP)

This funeral company’s shares fell 3% on Monday following the release of its full year results. In FY 2019 the company posted a 17.6% increase in revenue to $95.1 million and a 10.6% lift in operating EBITDA to $23.8 million. This was driven largely by acquisitions that offset below trend death volumes in most markets in which the company operates. The Propel board declared a fully franked final dividend of 5.8 cents per share, bringing the total fully franked dividends in FY 2019 to 11.5 cents per share. In addition to this, management revealed that it has had a positive start to FY 2020. It advised that in July it “performed a record number of funerals, with comparable volumes materially higher than expectations and the PCP; and achieved ARPF growth within its target range of 2.0% to 4.0%.”

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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 NATVETCARE FPO. The Motley Fool Australia has recommended Propel Funeral Partners Ltd. 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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