Another reporting season is over for most businesses trading on the ASX. S&P/ASX 300 Index (ASX: XKO) shares released a number of interesting results. After looking at the numbers, I think some of them are buys.
Many of the big reactions were because the company's update was significantly different from what was expected. Sometimes, it was very positive, and sometimes, it was very negative.
The two businesses I will talk about today didn't see a double-digit share price reaction (in percentage terms) to their results, but they are now materially cheaper after February. I think they are good value.
Breville Group Ltd (ASX: BRG)
Breville describes itself as a world leader in kitchen appliances, with a focus on coffee-making machines. It has other brands, including Sage, Lelit, Baratza and ChefSteps. The ASX 300 share also has a coffee bean-selling business called Beanz.
In the six months to 31 December 2024, Breville reported total revenue rose 10.1% to $997.5 million, operating profit (EBITDA) rose 11.5%, and net profit after tax (NPAT) grew 16.1% to $97.5 million. The board of Breville decided to increase the dividend per share to 97.5 cents.
Breville said it achieved double-digit growth in all three global product segments (in constant currency exchange rate terms), which was led by strong growth in its coffee category.
In my view, the business has a very promising future, as it has just directly entered the Middle East and China. The ASX 300 share said coffee continues to lead its growth.
With the Breville share price falling 8% since the end of January 2025, it looks better to me, particularly since its profit has increased at a pleasing speed.
Centuria Capital Group (ASX: CNI)
Centuria describes itself as a specialist investment manager with more than $20 billion of assets under management (AUM). Its portfolio includes listed and unlisted real estate funds and tax-effective investment bonds.
The business reported some pleasing metrics regarding its operating results (excluding the movement in value of investments and derivatives).
In the six months to 31 December 2024, the business reported that operating profit rose 3.4% to $51.1 million, operating earnings per security (EPS) increased to 6.2 cents, and the distribution per security was hiked by 4% to 5.2 cents.
The business noted its 50% interest in ResetData (a data centre business) is "positioning the group to capitalise on its unique opportunity to harness benefits from liquid cooling hardware solutions and significant partnerships including NVIDIA cloud partner status and Dell Technologies titanium partner status."
Centuria said its operating profit was supported by a resilient AUM and the ongoing benefits of its fund's management platform diversification.
The business said its net asset value (NAV) was $1.75 per security, so it's trading at a 6% discount to this after falling over 13% from 21 January 2025.
I think this business is also well-placed to benefit from further interest rate cuts in Australia whenever they happen.
