The S&P/ASX 200 Index (ASX: XJO) returned to form last week and charged notably higher. The benchmark index recorded a 1.3% gain to finish the period at 6,004.8 points.
Not all shares were able to follow the index higher last week. Here's why these were the worst performing ASX 200 shares over the period:
ResMed Inc. (ASX: RMD)
The ResMed share price was the worst performer on the ASX 200 last week with an 11.4% decline. Investors were selling the sleep treatment focused medical device company's shares after the release of its fourth quarter and full year update. Although ResMed delivered a very strong year of sales and profit growth, investors appear concerned by softer than expected mask sales during the pandemic. Management's guidance for FY 2021 was also reasonably cautious.
NRW Holdings Limited (ASX: NWH)
The NRW share price was out of form and tumbled 7.9% lower last week. This means the contract services provider's shares have given back the gains they made a week earlier following a positive announcement. That announcement revealed that the Southwest Connex Alliance has been named as the preferred proponent for the Bunbury Outer Ring Road project. NRW is a 40% partner in the alliance. The project is fully funded for $852 million and is expected to have a duration of three and a half years.
Credit Corp Group Limited (ASX: CCP)
The Credit Corp share price was a poor performer and recorded a decline of 6.1% over the five days. This appears to have been driven by profit taking after the debt collector's shares surged higher a week earlier following its full year results release. Excluding one-off adjustments, Credit Corp's net profit after tax would have been up 13% to $79.6 million in FY 2020.
Southern Cross Media Group Ltd (ASX: SXL)
The Southern Cross Media share price wasn't far behind with a decline of just under 6.1% last week. This media company's shares have come under significant selling pressure this year due to the negative impact of the pandemic on its operations and its highly dilutive capital raising. The company's shares are now down a disappointing 74% since the start of the year.
