At lunch on Wednesday the S&P/ASX 200 Index (ASX: XJO) is giving back a good portion of yesterday’s gains. The benchmark index is currently down 0.45% to 6,809.8 points.
Here’s what is happening on the market today:
Woolworths half year results
The Woolworths Group Ltd (ASX: WOW) share price is pushing higher following the release of its half year results. The retail giant reported a 10.5% increase in revenue to $35.8 billion and 15.9% increase in net profit after tax to $1,135 million. This compares favourably to what analysts at Goldman Sachs were forecasting. They expected revenue of $35,789.7 million and a first half net profit of $1,030.2 million.
Blackmores jumps on improved performance
The Blackmores Limited (ASX: BKL) share price is jumping higher today after reporting a much-improved half year result. For the six months ended 31 December, Blackmores reported a 3% increase in revenue of $302.6 million. On the bottom line, the health supplements company posted an 8% increase in underlying net profit after tax to $19.4 million. This allowed the Blackmores Board to reinstate its dividend after a one-year hiatus. It declared a fully franked interim dividend of 29 cents per share.
Appen share price sinks
It has been a disappointing day for the Appen Ltd (ASX: APX) share price. The artificial intelligence services company’s shares are sinking following the release of its full year results. For the 12 months ended 31 December, Appen posted a 12% increase in revenue to $599.9 million and an 8% lift in EBITDA to $108.6 million. In FY 2021, Appen is guiding to EBITDA growth of 18% to 28%. It appears as though the market was expecting stronger guidance.
Best and worst ASX 200 performers
The best performer on the ASX 200 today has been the IDP Education Ltd (ASX: IEL) share price with a 13% gain. This follows the release of a better than expected half year result. Going the other way, the worst performer has been the Nanosonics Ltd (ASX: NAN) share price with a 9.5% decline. Investors appear disappointed with the infection control specialist’s half year results today.
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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Appen Ltd, Idp Education Pty Ltd, and Nanosonics Limited. The Motley Fool Australia owns shares of and has recommended Blackmores Limited. The Motley Fool Australia owns shares of Woolworths Limited. The Motley Fool Australia has recommended Nanosonics Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.