The results are in — these are the winners and losers of the pandemic
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The pandemic has been a crippling economic event worse than the GFC, but while some ASX-listed stocks were dreading revealing their fiscal results to shareholders, others were only too happy to.
Here are the winners and losers of today’s FY20 results release.
In mid-August last year, bugkiller Zoono (ASX:ZNO) was a 6c penny stock. Now it is a $2.59-per-share stock that is profitable and will pay its inaugural dividend.
The company’s FY20 earnings rocketed 945 per cent on the prior corresponding period and it booked a $16.7m profit after tax.
Not for the first time, managing director Paul Hyslop attributed the strong result to the unprecedented worldwide demand for Zoono’s products.
Australia’s main bourse made a $498.6m profit after tax, the eighth consecutive year earnings per share has grown.
CEO Dominic Stevens labelled it a “robust result for our stakeholders”.
Pacific Smiles (ASX:PSQ) was hit by restrictions in March and April and while these caused a slight decrease in some of its metrics, results were still solid.
Net profit after tax fell 9.7 per cent, but was still in the black at $8.1m. Patient fees generated came in at $186.3m, which was only a 0.6 per cent decrease on FY19.
Radio and podcast network HT&E (ASX:HT1) took a bit hit when restrictions came in, with its net profit after tax falling from $20.1m to $3.6m.
But the company reported momentum had been improving in recent weeks and it was not all bad news.
CEO Ciaran Davis told shareholders COVID-19 provided key insights around audio and that audiences were now more engaged than ever before.
The pandemic has really taken its toll on Aussie airline giant Qantas (ASX:QAN), which was reportedly on track for another +$1bn profit but instead notched up a $2.7bn loss.
The company made a small underlying profit but asset impairments and restructuring costs pushed the statutory result into the red.
CEO Alan Joyce said the company was resilient to make it through the tough times but the recovery would be choppy.
Property developer AVJennings (ASX:AJV) also warned the short-term remained uncertain and volatile.
While it noted enquiries were coming back, support mechanisms by the government including HomeBuilder would be critical to its recovery.