From Kogan to Perenti Global: Why these 10 ASX stocks generated buzz on ASX

Highlights

  • Financial services firm HUB24 shares jumped over 7% after it raised its dividend for FY21.
  • Perenti Global shares ended 6% lower as its earnings failed to impress investors.
  • Online retailer Kogan shares plunged over 15% post earnings announcement.
  • Voice communication software firm MNF Group rose over 10% on solid results.
  • Shares of Pepper Money jumped 8% after the consumer finance company upgraded its earnings outlook.

The Australian benchmark index, ASX 200, closed higher for the second session on Tuesday on the back of firm global cues as well as gains in blue-chip energy and mining stocks. The investors also reacted to corporate earnings announcement as some big players such as HUB24, Perenti Global, Kogan, Ansell, OceanaGold, Estia Health, MNF Group released their earnings reports.

Here are ten stocks that created a buzz on the ASX on Tuesday.

Financial services firm HUB24 (ASX: HUB) shares ended 7.4% higher at AU$27.90 after it hiked dividend following growth in its earnings. The company declared a final fully franked dividend of 5.5 cents per share for 2021 financial year, up 57% compared to last fiscal. Meanwhile, net profit after tax jumped 53% to AU$15 million, while underlying group earnings before interest, tax, depreciation, and amortisation (EBITDA) rose 47% to AU$36.2 million.

Mining services company Perenti Global (ASX: PRN) ended 5.85% lower at 80 cents per share. During the day’s trade, the stock declined as much as 10.5% to hit an intraday low of 77 cents apiece after releasing its earnings report for the 2021 financial year. The statutory net profit after tax and amortisation stood at AU$75.3 million in the second half of FY21, compared to a first-half statutory loss of AU$63.8 million. Revenue slipped marginally to AU$2.02 billion, from AU$2.04 billion in FY20, while underlying earnings before interest, taxes and amortisation fell to AU$170.8 million, compared to AU$211.7 million in the prior period. It declared a final unfranked dividend of 2 cents per share for a total dividend of 5.5 cents per share for the year ended 30 June 2021.

The share price of Australia's largest online retailer Kogan.com (ASX:KGN) tumbled 15.7% to AU$11.06 after the company unveiled FY21 earnings report. Net profit after tax dropped by 86% to AU$3.5 million, compared to the previous year. This massive drop in profit reflects inventory, logistics as well as Mighty Ape acquisition costs. However, the company reported a solid 56.8% growth in revenue, to AU$780.7 million.

Shares of internet service provider Uniti Group (ASX: UWL) ended 0.5% higher at AU$12.98 following FY21 financial results. The company’s revenue rose 175% to AU$159.9 million, while EBITDA grew significantly by 254% to AU$93.7 million. The operating cash flow of the company improved by 325% to AU$91.7 million, while free cash flow rocketed 379% to AU$64.2 million.

Ansell (ASX: ANN), a company engaged in manufacturing of protective industrial and medical gloves, saw its shares nosedive 9.19% to AU$36.78 despite declaring record dividend for 2021 financial year. The company announced a final dividend of 43.6 US cents, its highest dividend payment on record, after it reported robust growth in its earnings. The company’s sales surged 25.6% to US$2.02 billion, while profit jumped 57.5% to US$246.7 million. The earnings before interest and tax (EBIT) rose 56% to US$338 million. The company said that its earnings numbers were driven by strong demand for its products in light of the COVID-19 pandemic.

Shares of gold mining company OceanaGold (ASX: OGC) closed 3.17% higher at AU$2.28 after it temporarily suspended mining and most other activities at its Macraes and Waihi operations in New Zealand. The decision was taken after the New Zealand government implemented a country-wide COVID-19 alert level four lockdown. The miner expects both operations to be curtailed until at least Friday, but both remain in a state of operational readiness for a safe and rapid restart following the easing of restrictions.

Homegrown aged care operator Estia Health’s (ASX: EHE) shares rose 3.6% to AU$2.32 after it posted robust earnings. Profit after tax rebounded to AU$6 million, compared to AU$116.9 million loss in the last fiscal, on the back of government funding and grants. Revenue increased 4.4% to AU$665.4 million in the 2021 financial year. It also declared a final dividend of 2.3 cents per share. The company stated that the result indicated the ongoing funding and financing challenges being faced by the residential aged care sector, particularly in the midst of the COVID-19 pandemic.

Voice communication software firm MNF Group (ASX: MNF) saw its shares rise 10.5% to AU$6.40 on solid earnings for the 2021 financial year. The recurring revenue climbed 12% to AU$113.2 million, while earnings before interest, tax, depreciation, and amortisation (EBITDA) rose 13% to AU$43.1 million. The earnings were at the top end of guidance, supported by rise in phone number growth. Underlying net profit after tax and amortisation surged 16% to AU$19.2 million. Boosted by strong earnings, the company raised its dividends by 25% to 7.6 cents per share.

Australian investment fund Spark Infrastructure (ASX: SKI) shares ended marginally higher by 0.4% to AU$2.83 after it released results for the six months ended June 30, 2021. The regulated and contracted asset base (RCAB) increased  4.5% to AU$6.9 billion in the first half of the year, while look-through net operating cash flow rose 6.6% to AU$201.2 million. Standalone net operating cash flow climbed 14.7% to AU$51.6 million. Spark also declared an interim dividend of 6.5 cents per share, in line with its guidance provided at the start of the year.

Shares of Pepper Money (ASX: PPM) jumped 7.7% to AU$2.80 after the consumer finance company upgraded its earnings outlook. The company’s net profit surged 41% to AU$56 million on a statutory basis, and the same surged 57 per cent to AU$66.1 million on a pro forma basis, for the six months ended June 30, 2021. Lending assets under management (AUM) rose 5.2% to AU$14.3 billion, compared to the same period last year, helped by strong demand across all asset classes. The company said that it is well positioned to fund future growth after completing AU$1.5 billion in securitisation transactions and an increase of AU$0.7 billion in prime warehouse capacity, as on 30 June 2021. The company, however, has not declared any interim dividend.

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