3 ASX All Ords shares falling hard on results updates

Investors are not thrilled with the latest figures from these companies.

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The S&P/ASX All Ordinaries Index (ASX: XAO) is grinding higher on Thursday as the closing bell approaches. However, a few ASX All Ords shares are missing out on today's enthusiasm.

Here's a closer look at three companies under pressure after publishing their latest financials.

These ASX All Ords shares disappointed investors

IVE Group Ltd (ASX: IGL)

The creative services and marketing company is seeing its share price weaken 9.7% to $2.165 after handing down its full-year FY23 results.

Looking through the report, it's difficult to say why exactly investors are punishing this ASX All Ord share. After all, the company improved its full-year revenue by 27.5% to $967.4 million while growing its net profit after tax (NPAT) by 19.8% to $39.7 million.

Furthermore, the outlook for FY24 was fairly positive. Management noted in the presentation that "Following two consecutive years of growth on all key financial metrics (EBITDA, NPAT & EPS), the Group is well placed to deliver healthy returns to shareholders over the year ahead".

Smartgroup Corporation Ltd (ASX: SIQ)

The Smartgroup share price has gone to custard today, falling 12.4% to $8.15 after sharing its half-year FY23 results with investors.

Shares in the ASX All Ords salary packaging and novated lease handler had strengthened by 44% in the six months leading up to these figures. Unfortunately, the reaction suggests the results weren't up to scratch with expectations.

For the six months ending 30 June 2023, Smartgroup posted revenue of $116.6 million — increasing a mere 3% from the prior corresponding period. The net profits after tax and amortisation (NPATA) were more dismal, declining 9% from a year ago.

Perpetual Ltd (ASX: PPT)

Lastly, the Perpetual share price is having a shocker today as investors refuse to stomach the wealth manager's full-year FY23 results.

At the time of writing, shares in this ASX All Ords company are down 7.3% to $23.11. The downward move takes Perpetual back into the red on its year-to-date performance after climbing out of its rut in March.

On the positive side, the wealth manager grew its assets under management to $212 billion in the 2023 financial year. In turn, operating revenue jumped 32% to $1,013.8 million.

However, net profits slumped 42% to $59 million, primarily due to one-off expenses from the company's acquisition of Pendal.

Motley Fool contributor Mitchell Lawler has positions in Smartgroup. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Smartgroup. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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