3 of the best ASX results from week three of reporting season

These results were among the best from week three of reporting season…

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Reporting season went up another gear last week when an even larger number of companies released their latest results.

Three of the best results from last week are summarised below. Here’s what they reported:

CSL Limited (ASX: CSL)

Despite facing a number of headwinds, this biotherapeutics giant delivered a full year result ahead of expectations last week. For the 12 months ended 30 June, CSL reported a 9.6% increase in constant currency revenue to US$10,026 million and a 10% lift in profit after tax to US$2,307 million. The latter compares to its guidance of 3% to 8% growth. And while plasma collection headwinds are expected to weigh on its performance in FY 2022, leading to a decline in profit, this was largely expected by the market. Overall, the result went down well with Morgans. In response, the broker retained its add rating and lifted its price target on the company’s shares by 8% to $324.40.

Domino’s Pizza Enterprises Ltd (ASX: DMP)

The Domino’s share price raced to a record high last week after investors responded positively to its full year results. In FY 2021, the pizza chain operator delivered a 14.6% increase in network sales to $3.74 billion and a 29.2% jump in net profit after tax to $188.2 million. This was driven by new store openings and solid same store sales growth across its ANZ, European, and Asian operations. Positively, FY 2022 has started strongly, with network sales up 7.7% year to date compared to the same period last year. The team at Citi were impressed. In response, the broker retained its buy rating and lifted its price target to $159.05.

Pro Medicus Limited (ASX: PME)

The Pro Medicus share price also jumped to a record high last week following the release of its full year results. In FY 2021, the healthcare technology company delivered a 19.5% increase in revenue to $67.9 million and a 33.7% jump in net profit after tax to $30.9 million. This was driven partly by the implementation of a number of multi-year contract wins from major healthcare institutions. Morgans was happy with its result. It lifted its price target on the company’s shares from $49.00 to $62.00. However, for valuation reasons, it has held firm with its hold rating. The Pro Medicus share price ended the week at $65.85.

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Motley Fool contributor 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 and has recommended CSL Ltd. and Pro Medicus Ltd. The Motley Fool Australia owns shares of and has recommended Pro Medicus Ltd. The Motley Fool Australia has recommended Dominos Pizza Enterprises Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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