The ASX 200 (Index: ^AXJO) (ASX: XJO) was eventful again this week. Here are four big stories you may have missed that affected businesses in the ASX 200 index:
JB Hi-Fi Limited (ASX: JBH)
The electronics retailer held its annual general meeting (AGM) this week. As part of the presentations, JB Hi-Fi gave a sales update.
JB Hi-Fi Australia grew sales by 4.7% in the first quarter with comparable sales growth of 3.7%, with the New Zealand division also reporting growth. But, total sales for The Good Guys fell 0.5% driven by a decline in comparable sales of 1.8%.
The company is still guiding total sales will be $7.25 billion for FY20.
Australian Pharmaceutical Industries Ltd (ASX: API)
The pharmaceutical company announced its FY19 result to investors this week.
API reported growth across the board with an increase of normal revenue of 4.1%, earnings before interest and tax (EBIT) going up 14.1%, underlying net profit after tax (NPAT) up by 3.2% and statutory NPAT growing by 17.4%. The dividend also saw an increase to 7.75 cents per share.
However, API management warned that the consumer confidence is still soft at the moment.
Cleanaway Waste Management Ltd (ASX: CWY)
The waste management business held its AGM on Friday, causing the share price to fall 13% in response.
Management warned that the profit it expected to report in the December 2019 half-year would be approximately the same as the profit generated in the December 2018 half-year. Investors had been hoping for some growth.
But, Cleanaway thinks it will have a stronger second half which will lead to overall growth over FY20.
WiseTech Global Ltd (ASX: WTC)
The software logistics company continues to be under the spotlight with the ongoing attention regarding the short seller attack.
WiseTech gave its defence against the second negative attack earlier this week defending its acquisitions, organic growth and strategy.
The company’s share price ended the week at a similar price to what it started the week at, so the market may have settled on this new price for now.
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Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of WiseTech Global. The Motley Fool Australia has no position in any of the stocks mentioned. 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.