Half Yearlies Top 5: The ASX may be down 1.5pc, but that hasn’t stopped these 5 stocks
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Stockhead has recapped the Top 5 half-yearlies lodged with the ASX this morning.
ASX-listed companies are required to their half-yearlies (financial results for the half year) within two months after the end of the first half of their financial year.
For most ASX companies that is today – the last business day of this month. But if your stock hasn’t lodged half-yearly just yet, don’t panic – it has until the close of business today.
And if your company uses a different financial year, such as New Zealand’s April 1-March 31 FY (lol) for stocks domiciled across the ditch, then a different deadline applies to them.
For now, here are the top ASX performers from this morning’s bunch.
BWX sells wellness products and it saw a 133 per cent increase in its net profit after tax of $9.9 million despite only increasing net revenues by 0.6 per cent.
This morning the company also announced a new strategic partnership with Chemist Warehouse. Over the next five years, the entire range of BWX products will be available online and a couple of products will be stocked on store shelves.
BWX CEO Dave Fenlon said the agreement signalled increasing consumer demand for wellness products, particularly natural skincare and beauty.
The company reaffirmed its full year guidance and said despite COVID-19 its three-year strategic plan was on track.
Joyce, which is an ASX-listed investment company, reported a net profit after tax of $7.6 million in its half yearly.
It gave particular credit to its KWB Group (which owns Kitchen Connection) and BedShed business which capitalised on the increased demand for household goods and housing renovations.
The company will not only pay a dividend to shareholders of 7 cents per share but has opted to pay back its JobKeeper allowances but stood by its decision to claim it in the first place.
While it was optimistic about the market going forward, it said it was mindful of the risk that with COVID-19 bought forward several months of consumer spending demand could dry up.
The industrial solutions provider revealed sales growth of 12.5 per cent (inclusive of acquisitions) and a statutory net profit of $2.3 million – a modest rise from FY 20.
It’s Fluid Systems Divisions performed particularly well reporting 21 per cent growth (including acquisitions). The company credited its value proposition to the mining and resources sector.
The company also announced a new three-year financing agreement with NAB with a base facility of $45 million.
This penny stock is trying to develop environmentally friendly technologies.
These include a de-polymerisation technology that can produce crude diesel from a range of hydrocarbon-based inputs such as waste timber and low rank coal.
ECT was a surprising winner among ASX stocks releasing half yearlies today as it is still rebuilding its Bacchus Marsh facility after a fire last October and was hit by COVID-19 restrictions in India.
However, the company was able to continue its operations at its facilities in Victoria under both Stage 3 and 4 restrictions.
Another penny stock, but focused on wave energy, increased its revenues by 15 per cent and cut its losses by 22.3 per cent.
It is now working on a machine-learning based Wave predictor.
While no new material developments were announced in its half-yearly today it recapped the progress it had made in recent months.
These included winning grants from Microsoft and the Blue Economy Research Centre.