Half-Yearlies Top 5: Lovisa leads the charge
Link copied to
Stockhead has recapped the Top 5 half yearly results released this morning with the top being Lovisa Holdings (ASX:LOV).
ASX-listed companies are required to lodge half-yearly results within two months after the end of the first half of their financial year and for most ASX companies that is the end of this month.
The mass consumer jewellery retailer was the top performing stock out of those releasing half-yearly results – climbing by as much as per cent this morning.
This was despite its revenue falling 10 per cent and its profit by over 22 per cent compared to the prior corresponding period. Arguably investors were more impressed with its increased dividend and positive outlook for the future – opening 18 new stores in France and the US.
Lovisa said it has also been upping its digital capabilities and saw sales growth of 335 per cent for the entire period.
Managing director Shane Fallscheer told shareholders the strength of his company’s balance sheet “puts us in a great position to take advantage of future opportunities as they arise.”
This company is one of the minority of fund managers to be publically listed as a standalone entity.
Like Lovisa, it also upped its dividend, in fact doubling it from 1 to 2 cents per share. It also announced a 140 per cent increase in net profit and a 127 per cent rise in profit from investment management. The latter was sparked by a 343 per cent increase in performance fee income.
The company also was optimistic for the future noting it was underinvested in a number of undervalued growth stocks that would drive long-term performance for investment funds.
The semi-trailer supplier reported a substantial turnaround from the prior corresponding period.
For the first half of FY20 it made a $1.19 million loss but this time around it made a $8.3 million profit before tax.
The company reported the trailer market was stronger, particularly among its food and grocery customers.
Favourable weather conditions meant that some agricultural customers brought their annual buying plans forward.
MaxiTrans decided against paying a dividend in light of continuing uncertainty but said it would review this decision come the release of its full FY21 results due in August.
But despite revenues declining 25 per cent, it reported a 27 per cent rise in earnings and profit with the latter figure coming in at $18.4 million. Nevertheless, it reported the JobKeeper subsidy (which it received $12 million of) was a godsend.
Vita Group reminded shareholders the Telstra deal wouldn’t expire until 30 June 2025 and applied only to retail stores.
As well as this, it still had its standalone Sprout stores which sold ICT accessories and skincare clinic brand Artisan and intended to grow both.
The autoparts company increased its net profit after tax by 90 per cent from $3.46 million to $6.58 million.
It also saw a 25 per cent growth in revenue which the company credited to some deferred client work being picked up as economic conditions improved.
Managing director Kees Weel said growth had only just started and today’s figure illustrated his company’s capability and potential.