10 ASX companies that posted profit in this earnings season

Highlights

  • Australian companies have so far reported strong earnings despite the challenges posed by the ongoing coronavirus pandemic.
  • With the vaccination drive picking up momentum, experts expect the economy to grow back fast and more companies to do well going forward.
  • Charter Hall, NIB Holdings, Commonwealth Bank of Australia and Evolution Mining are a few firms that have reported robust earnings.

Australian companies have so far reported strong earnings despite the challenges posed by the ongoing coronavirus pandemic. With the vaccination drive picking up momentum, experts expect the economy to grow back fast and more companies to do well going forward. Some of the leading ASX-listed firms such as Charter Hall, NIB Holdings, Commonwealth Bank of Australia and Evolution Mining have reported robust earnings in this reporting season.

Here we discuss 10 ASX companies that posted a profit in this earnings season:

(However, one needs to do a thorough research before taking any exposure as sinusoidal market trends are evident.)

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Charter Hall (ASX:CHC)

Buoyed by robust performance by property portfolio, Charter Hall Group posted a net profit rise of nearly 38% in the financial year 2021. The revenue of the company which operates across property funds management, property management, development, property investment banking surged nearly 21% for the period ending 30 June 2021.

The investment portfolio of the company reported a 15% total property investment return. The portfolio surged by nearly 19% during the year. Charter Hall’s managed funds rose by 29% in the given fiscal.

In the past month, the shares are up over 18%.

Cochlear Ltd (ASX:COH)

The healthcare firm posted record sales for the year ended June 2021 despite challenges due to the ongoing coronavirus pandemic. The sales rose by 10% as the company managed to boost its market share during the period under review. The full-year underlying net profit climbed by 54%.

                     

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Cochlear’s earnings benefited from AU$90 million in one-off gains related to a tax ruling and venture capital investment successes. In FY2022, the profit guidance of the company was in the range of AU$265 million to AU$285 million. It implies a surge of 12% to 20% on underlying net profit for FY2021.

In the past month, the shares are down nearly 2%.

Inghams Group Ltd (ASX:ING)

The Australian poultry producer reported a doubling of profit in the financial year 2021. While the net profit after tax (NPAT) rose by 107% at AU$83.3 million, the underlying NPAT increased by 57%. The total revenue growth of the company stood at 4.4%.

Total poultry sales volume surged 4.2% in the period under review. Commenting on the earnings, chief executive Andrew Reeves said: “These strong financial results are underpinned by solid poultry volume growth and a recovery across the majority of our key channels during the year.”

In the past month, the shares are up nearly 3%.

Evolution Mining Ltd (ASX:EVN)

Despite the challenges posed by the coronavirus pandemic, the gold miner reported a record net profit in FY21. Evolution Mining reported a 14% rise in statutory net profit after tax (NPAT) in the given fiscal. Underlying NPAT was AU$354.3 million, against AU$405.4 million in last fiscal.

However, the revenue fell 4% and the earnings before interest, tax, depreciation and ammortisation (EBITDA) declined 11%.  The gold production stood at 680,788 ounces in FY21, down from 746,463 ounces in FY20.

In the past month, the shares are up over 5%.

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Reliance Worldwide Corporation Ltd (ASX:RWC)

Reliance worldwide designs and supplies water flow and control products. It reported a doubling of profit in the 12 months to June. As a result, the company’s board also increased its dividend.

While the revenue rose 15.3%, the net profit surged 110.5%. Commenting on trading conditions since 30 June 2021, CEO Heath Sharp said, “Underlying demand remains strong, but sales are being constrained by ongoing supply chain disruption including raw materials availability, shipping delays, and a shortage of labour in plumbing trades.”

In the past month, the share price rose nearly 8%.

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Ampol Ltd (ASX:ALD)

Australia’s petrol and transport fuel company reported a 70.8% increase in RCOP net profit after tax (PAT) to AU$205 million for the six months ended June. The earnings received a major boost from the company’s fuels & infrastructure business, which gave an 85% increase in earnings before interest and tax (EBIT) for the period.

While the convenience retail EBIT increased 19.2%, the corporate costs rose 12.5% during the period.

Meanwhile, the company also tabled a non-binding indicative proposal to acquire Z Energy for a cash offer price of NZ$3.78 per share.

In the past month, the share price fell 7%.

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NIB Holdings Ltd (ASX:NHF)

The health insurance company posted an 84.5% rise in net profit after tax (NPAT) in FY21. Group underlying operating profit (UOP) was up 39.5% compared to AU$146.9 million in FY20.

Total group revenue rose by 2.9% on the prior corresponding period. In comparison, the industry average is nearly 3.1% per annum.

Group expense claim surged by 2.5%. It included 378,900 hospital claims and more than 3.9 million dental, optical, and other ancillary claims across the board. The company increased its fully franked full-year dividend to 24 cents per share.

In the past month, the share price fell nearly 2%.

James Hardie Industries Plc (ASX:JHX)

James Hardie Industries is a manufacturer of building products for the construction and remodelling of new homes, manufactured housing, and has a variety of commercial and industrial applications. In its first-quarter results, James Hardie’s profit from ordinary activities after tax attributable to shareholders was up 9.4%. The net income was up 50%.

While the sales increased by 35% over the prior corresponding period, the adjusted earnings before interest and tax (EBIT) jumped 45%.

The company’s operating cash flow was down 3% in the quarter. James Hardie also upgraded its full-year net income guidance.

In the past month, the share price rose 15%.

Domino’s Pizza Enterprises Ltd (ASX:DMP)

The pizza chain reported a net profit after tax (NPAT) rise of 29.2% for the 12 months ending 30 June 2021 compared to the previous year. Underlying earnings Before Interest and Tax (EBIT) jumped 27.2%.

The company continued with its sales momentum despite restrictions posed by the coronavirus pandemic. While the network sales increased 14.6%, the online sales grew 21.5% on-year. Earnings Per Share (EPS) surged 28.7% YoY to 217.6 cents per share.

The company lifted the final dividend lifted to 85.1 cents per share. The total dividend for FY21 stood at 173.5 cents per share, up 45.4% on-year.

In the past month, the share price rose 24%.

Commonwealth Bank of Australia Ltd (ASX:CBA)

Commonwealth Bank of Australia reported a 19.8% rise in cash net profit after tax (NPAT) for the year ended 30 June 2021. The bank attributed the rise in earnings to sustained economic recovery from the coronavirus pandemic which boosted lending activity.

The net profit attributable to equity holders reported a 6% rise on a revenue jump of 2%. Statutory net profit rose 19.7%.

The net interest margin of Australia’s biggest bank fell 4 bps over the year to 2.03%. Total loan impairment provisions fell from AU$6.24 billion to AU$6.1 billion.

In the past month, the share price rose 1%.

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