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Top 5 ASX share price gainers last week

With results season well and truly underway, last week saw mixed results for ASX shares. Some surprised on the upside while others disappointed.

Although fears over the spread of coronavirus weighed on some ASX shares, the S&P/ASX 200 Index (INDEXASX: XJO) finished the week at 7130 points, just 2 points off January’s record-high of 7132.

Let’s take a look at the top 5 ASX share price gainers last week. 

Idp Education Ltd (ASX: IEL)

The IDP Education share price finished the week up 36.4% at $23.50. The international education services company reported strong first-half results with revenue of $379 million, a 25% increase over the same period in FY19. Earnings before interest and tax (EBIT) increased 49% over the prior corresponding period (pcp) to reach $86.9 million. 

IDP Education reported a 41% increase in adjusted earnings per share which reached 23.4 cents. An interim dividend of 16.5 cents per share was declared, franked at 17%. The company’s student business saw a 30% increase in volume, assisted by higher conversions in the sales cycle. Multi-destination markets recorded volume growth of 52%. 

Chief Executive Officer and Managing Director Andrew Barkla said the positive results reinforced the company’s commitment to its digital strategy and vision. “Our organisation has pivoted to focus deeply on the experience of our customers, which is delivering strong returns across all business lines. Importantly our global platform is exceeding our expectations in terms of pipeline growth and conversion,” he said. 

Breville Group Ltd (ASX: BRG)

The Breville Group share price rose 27.5% last week to $24.37. The appliance maker forecasts double-digit profit growth this year with full-year earnings expected to rise at least 13%. Breville reported a $49.7 million interim net profit, up 14.1%, off the back of strong demand for new products. 

Half-year results showed a 25.4% increase in revenue, which reached $552 million in 1H20 from $440.4 million in 1H19. EBIT increased 15.6% to $72 million with earnings per share (EPS) up 14% to 38.1 cents from 33.5 cents in 1H19. A dividend of 20.5 cents per share, 60% franked, was declared, up 10.8% from 18.5 cents per share in 1H19. 

Revenue increased across all geographic segments, up 14.6% in North America, 60% in Europe, 10.7% in Australia and New Zealand, and 10.9% in the rest of the world. Breville has been expanding into new markets in Europe including Germany, Austria, Switzerland, and Spain. Breville has also invested heavily in research and development, bringing out high performing new products including a juicer, a range of microwaves, and an air fryer. 

Challenger Ltd (ASX: CGF)

The Challenger share price increased 13% last week, finishing the week at $10.10. Shares leaped on Tuesday following the release of better than expected first-half results. Normalised net profit after tax (NPAT) was $191 million, down 4%, but full-year profits are expected to be at the top end of guidance of $500 million to $550 million. 

Net income of $423 million was reported, up 4%, with expenses up 7% to $142 million. Normalised EPS decreased 5% to 31.5 cents per share, however, the half-year dividend of 17.5 cents per share (fully franked) was unchanged.

Group assets under management increased 10% to $86.3 billion. The funds management business reported a 10% increase in funds under management, up to $82.8 billion. The life business reported total sales of $3.1 billion, an increase of 15%. 

Challenger has increased its investment in distribution, product, and marketing initiatives with $15 million slated to be spent this year. The company is stepping up its engagement with industry super funds, which benefited from the exit from retail funds in the wake of the Royal Commission. The hope is that this will allow Challenger to sell more lifetime annuities to industry fund members. 

Bingo Industries Ltd (ASX: BIN)

The Bingo Industries share price went up 12.4% last week, closing the week at $3.18. The waste management company has issued FY20 guidance of earnings before interest tax depreciation and amortisation (EBITDA) of $159 million to $164 million, which would be a 50% increase on FY19.  

BINGO is in the process of disposing of non-core business assets, having sold the Banksmeadow facility for $50 million last year. The sale of additional non-core assets before the end of FY20 is expected to realise an additional $30 million. 

BINGO owns several waste dumping facilities in New South Wales which are benefiting from last year’s regulatory update. The update made it illegal to move waste from New South Wales across the border to Queensland to avoid the landfill levy. With waste companies now required to dump their rubbish within the state, BINGO Industries’ New South Wales facilities are benefiting from the change. 

Evolution Mining Ltd (ASX: EVN)

The Evolution Mining share price lifted 12.2% to $4.23 last week following the release of the company’s half-year results. The miner reported a record half-year statutory NPAT of $147.2 million up 62% from 1H19. Meanwhile, EBITDA was up 23% from $359.7 million to $441.2 million. 

Half-year revenue increased 19% to $898.2 million, assisted by a 24% higher achieved gold price of $2,102 per ounce. EPS increased 61% to 8.7 cents per share, while the interim dividend doubled to 7 cents per share, fully franked. Evolution reported that it had no debt having repaid $300 million in debt during the half-year. Net cash of $170.3 million was held, up from $35.2 million in the pcp. 

Group Mineral Resources as at 31 December 2019 were estimated at 15.2 million ounces of gold and 934,000 tonnes of copper, compared to 14.73 million ounces of gold and 982,000 tonnes of copper the year prior. Group Ore Reserves were estimated at 6.6 million ounces of gold and 532,000 tonnes of copper. 

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Motley Fool contributor Kate O'Brien has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Challenger 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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Kate O'Brien