At lunch on Thursday, the S&P/ASX 200 Index (ASX: XJO) appears to have run out of steam and is tumbling lower. The benchmark index is currently down 0.5% to 7,496.2 points.
Here’s what is happening on the ASX 200 today:
A2 Milk disappoints again
The A2 Milk Company Ltd (ASX: A2M) share price is sinking on Thursday after it delivered a full year result at the very low end of its downgraded (four times) guidance range. The infant formula company reported a 30.3% decline in revenue to NZ$1.21 billion and a 77.6% fall in EBITDA to NZ$123 million. Management also ruled out a capital return after teasing one earlier this year and warned that FY 2022 would be challenging.
Appen sinks on half year results
The Appen Ltd (ASX: APX) share price is crashing lower after the release of its half year results. For the first half of FY 2021, Appen reported a 2% decline in revenue to US$196.6 million and a 14.3% fall in EBITDA to US$27.7 million. While the latter was a touch ahead of the US$27million analysts at Citi were expecting, the broker noted that its estimate was ~20% lower than consensus estimates. Not even news that the company is acquiring location data provider Quadrant has saved its shares.
Flight Centre higher despite loss
The Flight Centre Travel Group Ltd (ASX: FLT) share price is pushing higher today despite recording another large loss in FY 2021. For the 12 months ended 30 June, the travel agent reported a 74.2% decline in total transaction value (TTV) to $3,945 million and an underlying loss after tax of $364 million. However, management’s belief that it can reach profitability in FY 2022 appears to have boosted its shares.
Best and worst ASX 200 performers
The best performer on the ASX 200 on Thursday has been the Blackmores Limited (ASX: BKL) share price with an 8% gain. This follows the release of the health supplements company’s full year results. The worst performer has been the Appen share price with a 19% decline following its half year results release.