Image Source: Getty Images
We reached the pinnacle of the ASX reporting season this week as a swarm of S&P/ASX 200 Index (ASX: XJO) shares pulled back the curtain on their financial results.
As ever, it was a mixed bag as some ASX 200 stocks received gold stars from investors while others left a lot to be desired.
The ASX 200 index was ultimately down 0.1%, but some ASX 200 stocks moved more than most.
Here is a roundup of this week’s biggest ASX 200 engines.
ASX 200 Winners
the AltiumLimited (ASX: ALU) share price led the way this week, rising 19%, as the company’s FY22 results beat guidance. The ASX 200 technology share delivered revenue growth and profit margins above expectations, with analysts at Bell Potter describing it as an “excellent result”.
the Pilbara Minerals Ltd. (ASX: PLS) share price also stood out. The ASX 200 lithium stock posted a 16% weekly gain as its FY22 results impressed the market. A booming lithium industry boosted Pilbara revenue to $1.2 billion, up 577% year-over-year, as the company reported an opening profit of $560 million.
ASX Peers Lithium Stocks Allkem Ltd. (ASX: AKE) was also found in the winners column. Allkem’s share price soared 13% for the week as FY22 generated record production and sales.
the Bega cheese (ASX:BGA) share price was also up 11% for the week. Supply chain bottlenecks and other COVID-related challenges led to a 69% drop in after-tax profit. But the company still managed to increase its interim dividend.
Last but not least, the paladin energy ltd (ASX:PDN) Stock price found its groove, shooting 11% higher for the week. The uranium company released its results for fiscal year 22 on Friday, but it was an announcement from Japan’s prime minister that got the market excited.
ASX 200 Losers
the City Chic Collective Ltd (ASX:CCX) share price held the unfortunate title of the ASX 200’s biggest weekly detractor. The ASX 200 retail share suffered a precarious 26% drop as the company’s inventory balance soared, causing generated negative operating cash flow.
the abri ltd (ASX: ABC) share price also felt worse for wear, falling 18% for the week. Even though half-year revenue was up 8%, NPAT dropped 15% due to various operational challenges.
The week brought more pain to the EML Payments Ltd (ASX:EML), which suffered a 16% drop. While the market reacted positively to EML’s FY22 results, a follow-up announcement revealing another case of fraud led to liquidation.
the nanosonic ltd (ASX: NAN) the share price also tanked this week, falling 15%. It appears that the company’s FY22 results and forward guidance were not enough to satisfy the market as it transitions to a mostly direct sales model in North America.
Finally, the Kelsian Group Ltd (ASX: KLS) Share prices also lost steam, retreating 14% for the week. Formerly known as SeaLink Travel, Kelsian delivered 13% revenue growth in FY22 and marginally increased its final dividend amid challenging operating conditions.
Leave a Reply