Another jam-packed day of reporting on the ASX has come to pass. Results from some of the biggest companies on the ASX were met with mixed reactions.
We'll quickly unpack today's results and then wrap it back up for tomorrow:
Those that delivered today
Magellan Financial Group Ltd (ASX: MFG)
Shares in the fund manager sank a drastic 10.15% to $46.20. Investors put downwards pressure on the company's shares after Magellan revealed a 33% fall in profits in its FY21 result.
The takeaway points:
- Average funds under management (FUM) increased 9% to $103.7 billion
- Profit before tax and performance fees up 10% to $526.6 million
- Net profit after tax down 33% to $265.2 million
- Adjusted net profit after tax down 6% to $412.7 million
- Total partially franked dividends of 211.2 cents per share, down 2% year on year
Breville Group Ltd (ASX: BRG)
The Breville share price suffered a similar fate today with the kitchen appliance company's shares losing 8.97% after reporting to the ASX. Despite top and bottom-line growth in its FY21 result, the market appeared to hone in on supply chain concerns.
The takeaway points:
- Record group sales resulting in a 24.7% increase in revenue to $1,187.7 million.
- Gross profit up 29% to $413.7 million.
- Earnings before interest, tax, depreciation and amortisation (EBITDA) up 36% to $163.3 million.
- Net profit after tax up 42.3% to $91 million.
- Dividends per share down 35.4% to 26.5 cents per share (FY20: 41.0 cents per share).
Domain Holdings Australia Ltd (ASX: DHG)
Finishing on a positive note, shares in Domain jumped 4.71% to $4.89 after reporting its earnings on the ASX. Investor sentiment was positive after the company revealed substantial earnings growth in its FY21 results.
The takeaway points:
- Earnings before interest, taxes, depreciation, and amortisation (EBITDA) of $102 million prior to the impact of an accounting change, up 20.8% year-on-year
- Net profit of $37.9 million, up 66% year-on-year
- 31% like-for-like growth in core digital EBTIDA
- Record unique digital audience of more than 9 million
ASX shares reporting tomorrow
Tomorrow is set to be another busy one on the ASX for reporting. Some of the big-name companies set to release their financials include CSL Limited (ASX: CSL), Woodside Petroleum Limited (ASX: WPL), Pro Medicus Limited (ASX: PME), Domino's Pizza Enterprises Ltd. (ASX: DMP), Nearmap Ltd (ASX: NEA), and Coles Group Ltd (ASX: COL).
