The ASX reporting wrap-up: Magellan, Breville, Domain

Just what the investor ordered. Here's a recap of the companies that reported on Tuesday…

Mitchell Lawler

Mitchell stumbled upon the concept of investing when in high school, devotedly urging his parents to put some money into a handful of technology companies with increasingly popular products among his demographic – many of which have gone on to great success. It wouldn’t be until 2017, some five years later, that Mitchell became an investor of his own money. Having studied and worked as a mechanical engineer in the building services industry, Mitchell takes a methodical and analytical approach to evaluating businesses. Rather than relying purely on numbers, Mitchell drills beyond a company’s metaphorical mantle to unearth obscure patterns or competitive advantages that would go otherwise unnoticed. His expertise resides within areas such as software, consumer goods, and building services equipment. However, his quest to find quality companies that set the industry standard and flex some degree of an impenetrable position has no limits – small cap to mega cap, cosmetics to healthcare – if it’s an exceptional business it’s on his radar.

Published August 17, 2021 5:24 pm AEST

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:

wrap up of ASX 200 shares performance represented by newspaper saying that's a wrap — Image source: Getty Images

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).

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