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Highlights:
- The benchmark S&P/ASX 200 closed sharply lower, shedding 2.58% on Wednesday (14 September).
- On a year-to-date basis, ASX 200 has tumbled by 8.27%.
- All the major eleven sectors registered considerable losses on ASX today.
The Australian stock market closed in the red zone on Wednesday (14 September 2022), taking cues from Wall Street that witnessed a heavy beat in yesterday's trade. The stock market is concerned that the US Federal Reserve will get aggressive in handling growing inflation.
ASX 200 ended 2.58% down to 6,828.60 points today. Along with the ASX 200 index, all eleven significant sectors were in deep red. A-REIT was the worst performing sector, marking a fall of 3.96%. On a year-to-date basis, A-REIT has dropped almost 24% and, in a year, it has lost nearly 17%.
Here in this article, Kalkine Media has discussed five ASX50 stocks: Xero Limited, WiseTech Global Limited, REA Group Ltd, SEEK Limited and TPG Telecom Ltd.
Xero Limited (ASX:XRO)
Shares of Xero closed 4.927% lower at AU$86.440 per share on ASX today. The shares were in line with its benchmark index, ASX 200 Information Technology which was down 3.148% to 1,513.7 points.
In the financial year 2022 (ending on 31 March 2022), the company posted a 29% increase in its operating revenue to AU$1.1 billion. Annualised monthly recurring revenue surged by 28%, and EBITDA grew by 11%. In last 12 months, total subscribers reached 3.3 million, a growth of 19%.
Xero said that for FY23, the group would focus on reinvesting the cash generated and growing a global small business platform. The company is expected to share its half-yearly results for FY23 (the financial year 2023) on 10 November 2022.
Xero is a software and service company that offers accounting software and tools for bookkeepers, accountants and small businesses. The company claims that more than 3 million subscribers use Xero.
WiseTech Global Limited (ASX:WTC)
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Image source: © Rafaelhenriquepress | Megapixl.com
WiseTech share price closed 4.181% down at AU$58.210 apiece, following its benchmark index ASX 200 Information Technology.
WiseTech delivered 'standout performance' in FY22. The technology company posted a 25% growth in total revenue, meeting the top end of the guidance. EBITDA shot up 54%, underlying NPAT zoomed 72%, and free cash flow rose 72%. Solid financial results led to a 66% increase in the final dividend.
The group shared a strong outlook for FY23 as it expects 20 to 23% growth in revenue and 21 to 30% growth in EBITDA.
WiseTech offers software solutions to the logistics industry globally. CargoWise is the flagship platform of the group, which forms an integral link in the supply chain and carries out more than 72 billion data transactions every year.
REA Group Ltd (ASX:REA)
REA shares ended trading at AU$123.940 apiece, down 2.224% on ASX today. The shares were in line with its benchmark index, ASX 200 Communication (INDEXASX:XTJ), which lost 2.34% to 1,406.6 points.
FY22 was an 'exceptional year for REA'. In these 12 months, the group registered a 26% growth in the group revenue, a 19% surge in EBITDA and a 25% rise in net profit. On exceptional performance, REA's board announced a final dividend of 89 cents per share, bringing the total dividend to 164 cents per share, representing a 25% rise from the previous year.
REA is a global digital business which specialises in property. The group is available across three continents that includes North America, Asia and Australia.
TPG Telecom Limited (ASX:TPG)
TPG's share price dropped 1.361% to AU$5.070 apiece on ASX today, tracking its benchmark index, ASX 200 Communication.
The telecommunication services provider said that momentum accelerated during the half-year ended 30 June 2022 (HY22). The company has reported strong gains in fixed wireless subscribers and mobile numbers.
During the period, the revenue grew 0.7% on the prior corresponding period, and EBITDA dropped 5.3%. NPAT increased from AU$78 million to AU$167 million.
The board determined to pay an interim dividend of 9 cents per share, 1% higher than the previous year's interim dividend. The dividend announced was in line with the company's policy to pay a minimum of 50% of adjusted NPAT.
Telecommunication company, TPG was formerly known as Vodafone Hutchison Australia Limited. In 2020, the company merger with TPG Corporation Limited and the resources of Australia's two largest telecom companies were brought together. TPG's brands are Felix, Lebara, Internode, AAPT, iiNet and Vodafone.
Seek Limited (ASX:SEK)
Image source: © Mohammedsoliman4 | Megapixl.com
SEEK shares shed off 1.165% to close at AU$21.200 per share, performing in line with its benchmark index, ASX 200 Communication.
Increased investment in Asia and economic recovery skyrocketed the financial performance of SEEK in FY22. From the continuing operations, revenue grew 47%, EBITDA 53% and reported NPAT increased by 81%. Reported NPAT from discontinued operations surged by 156%.
SEEK'S board has declared a final dividend of 21 cents per share for FY22, taking the total dividend to 44 cents per share. The dividend is fully franked and is expected to be paid on 4 October 2022.
SEEK operates online employment classified and training and education. The company claims to be a market leader in online employment across Latin America and the Asia Pacific. The company has evolved as a technology company as it continuously invests in technology and artificial intelligence to develop innovative products that establish a connection between job opportunities and candidates.
