The S&P/ASX All Ordinaries Index (ASX: XAO) closed in the green today, up 0.23%.
Among the index's biggest movers and shakers on Friday were the following three companies that all released earnings results today.
Let's take a look at the detail.
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Yancoal Ltd (ASX: YAL)
The ASX coal share was up 4.57% at $6.64 at today's close of trade. The ASX All Ordinaries share opened at $6.33 following the company's release of its quarterly activities report after the market close yesterday. This was an 0.3% fall on yesterday's closing price.
The company reported an average realised price of A$422 per tonne of coal during the December quarter. The full-year average was A$378 per tonne, up 168% from 2021. The company increased its cash holdings by $1.5 billion and had a balance of $2.7 billion as of 31 December.
Yancoal CEO David Moult said:
Yancoal enters 2023 primed to begin an operational recovery program following two years of unprecedented disruptions. The timeline to full recovery depends, in part, on external factors such as wet weather and workforce availability. The intention is to restore productivity and efficiency, leading to improved production rates in successive periods.
Supply side constraints and global energy market uncertainty lifted international thermal coal prices to record levels in 2022. The supply side recovery is likely to occur gradually, and structural imbalances should persist in the international market.
We anticipate international thermal coal prices to remain well supported in 2023.
The Yancoal share price is up 127% over the past 12 months.
City Chic Collective Ltd (ASX: CCX)
The City Chic share price closed Friday trading 7.69% lower at 66 cents. The ASX All Ordinaries share opened at 67 cents following the pre-open release of a trading update for 1H FY23. This was a 6.3% fall on yesterday's closing price.
City Chic reported preliminary and unaudited global sales revenue figures of $168.6 million for the six months. This is 8% down on the prior corresponding period (pcp) but up 38% on FY21.
There was an underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) loss of between $2.5 million and $4 million over the half. The fashion retailer has an inventory worth about $163 million, which is ahead of target. It has net debt of $12.9 million with an amended debt facility.
The company said it was experiencing a higher cost of doing business. Consumer demand "continued to be volatile" during the half, with promotions required to stimulate sales, thereby reducing margins.
City Chic CEO Phil Ryan said:
… we continue to focus on cost management and with the support of our lender have amended our debt facility in line with our changing business needs. We remain extremely confident in executing on our strategies and returning to profitable growth as these cyclical headwinds unwind.
The City Chic share price is down 87% over the past 12 months.
Australian Ethical Investment Ltd (ASX: AEF)
The Australian Ethical Investment share price was down 2.6%, trading at $4.50 at today's market close.
The ASX All Ordinaries share opened at $4.59 after the company released its quarterly funds under management (FUM) report before the bell. This was 0.65% lower than yesterday's closing price.
Australian Ethical Investment reported positive net inflows of $160 million for the quarter. This was mainly from superannuation funds, with fewer investors currently putting money into managed funds.
As of 31 December 2022, Australian Ethical Investment had $8.37 billion in FUM, up 35% from 30 June 2022. The Christian Super successor fund transfer (SFT) added $1.93 billion to the fund during the quarter.
Investment performance for the quarter was $110 million.
The Australian Ethical Investment share price is down 58% over the past 12 months.
