BWX Ltd (ASX: BWX) shares are getting a makeover this morning following the release of the company's half-year results (1H21). At the time of writing, the BWX share price has leapt 10.95% to $4.46.
Let's take a look at how the beauty and skincare company has been performing.
Profit glow up
BWX reported a revenue increase of 0.6% to $84.5 million compared to $84.1 million in revenue during the prior corresponding period (pcp).
But the news boosting the BWX share price this morning is that the company's net profit after tax (NPAT) was up 133.1% to $9.9 million next to 1H20's earnings of $4.2 million.
Earnings per share (EPS) also hopped up from 3.4 cents in 1H20 to 7.2 cents in 1H21.
Meanwhile, earnings before interest, tax, depreciation and amortisation (EBITDA) surged 53.5% to $17.5 million in 1H21 compared to 1H20 EBITDA of $11.4 million.
At the end of the period, BWX held $337.2 million in net assets, which is an increase from the $298.8 million posted at the end of 1H20.
Net cash flow from operating activities rang in at $9.8 million jumping up from $8.3 million in the pcp.
The business finished the half with an improved cash position of $77.7 million. Its net debt also improved and was $12.1 million as of 31 December 2020.
BWX paid a 2021 fully franked interim dividend of 1 cent per share compared to the 2020 interim payment of 1.3 cents per share.
CEO comments
Commenting on the half-year performance, BWX Group CEO and managing director Mr Dave Fenlon said:
The 2021 financial year continues to require a proactive and responsive approach to managing through the global pandemic. While each of our key markets are at varying stages of recovery, BWX has continued to demonstrate resilience during the period and remains committed to delivering on our revenue and earnings expectations for the full year.
In our Asia Pacific markets, we have continued to strengthen and grow our business by increasing accessibility to our brands both in-store and online. Our American and European operations, however, have been more challenged by the external environment, and sales in these regions were impacted by retailer closures and COVID-19 related out-of-stock and supply chain issues.
BWX further advised that it is on track to meet full-year FY21 guidance of at least 10% revenue and 10% EBITDA growth.
BWX share price snapshot
Over the last six months, the BWX share price has fallen by around 7%. However, in the past year, BWX shares have gained around 10%. Based on the current BWX share price, the company has a market capitalisation of approximately $577.7 million. There are presently 139.5 million shares outstanding.
