The Motley Fool

Were these the best results on the ASX last week?

Last week earnings season moved up another gear after a large number of popular companies released their latest sets of results.

Three results that caught my eye are summarised below. Here’s why I think they were among the best results last week:

Accent Group Ltd (ASX: AX1) 

I thought the Accent Group half year result was one of the best results released last week. The footwear-focused retailer overcame the tough trading conditions in the retail sector to post total sales of $507.9 million and a net profit after tax of $35.3 million. This was an increase of 10.9% and 9.7%, respectively, on the prior corresponding period. Its solid growth was driven by store openings, very strong online sales growth, and a 2.4% increase in like for like sales. The retailer also lifted its interim dividend by almost 17% to a fully franked 5.25 cents per share.

Coca-Cola Amatil Ltd (ASX: CCL)

Another result that caught my eye came from Coca-Cola Amatil. Last week the beverage company released its full year results and smashed the market’s expectations by reporting a 6.5% increase in total revenue from continuing operations to $5,112.1 million. This was driven by growth across the business, including solid volume growth in the key Australian market. The latter was thanks partly to the success of the Coca Cola No Sugar brand and led to the company reporting revenue growth in Australia for the first time in seven years. Looking ahead, following the successful completion of its two-year transition period, management revealed that it expects mid-single digit earnings per share growth in FY 2020.

Domino’s Pizza Enterprises Ltd (ASX: DMP) 

Finally, I would say that Domino’s delivered the result of the week. The pizza chain operator’s shares zoomed to a multi-year high after it posted a stronger than expected half year result. For the six months ended December 31, Domino’s reported a 10.6% increase in global food sales to $1.58 billion. This was driven by the opening of 85 new stores and a solid 4.1% increase in same store sales. Also growing strongly was the company’s EBITDA. It grew 10% over the prior corresponding period to $151 million. Pleasingly, management revealed that the second half has started very positively, with same store sales now up 4.6% financial year to date.

These 3 stocks could be the next big movers in 2020

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

In this FREE STOCK REPORT, Scott just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. These stocks are trading at dirt-cheap prices and Scott thinks these could really go gangbusters as we move into ‘the new normal’.

*Returns as of 6/8/2020

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Accent Group and Domino's Pizza Enterprises 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.

Related Articles...