In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is down a disappointing 0.7% to 5,702 points.
Four shares which have acted as a drag on the market today are listed below. Here's why they have started the week in the red:
The Compumedics Limited (ASX: CMP) share price is down 7% to 39 cents after reporting a 60% decline in net profit to $1.3 million. Management placed the blame on lower than expected sales in the United States following restructuring activities. Furthermore, sales from its Australian business fell 28% year-on-year.
The Japara Healthcare Ltd (ASX: JHC) share price has tumbled 11% to $1.80 following the release of its full-year results. Despite revenue rising 11% to $362 million, net profit after tax fell 2% to $30 million. Furthermore, EBITDA is expected to remain flat in FY 2018, before returning to growth in FY 2019 as developments complete.
The Qantas Airways Limited (ASX: QAN) share price has fallen 6% to $5.64 despite the release of several favourable broker updates this morning. Today's decline could relate to a sudden rise in fuel prices after Hurricane Harvey struck Texas.
The Silver Chef Limited (ASX: SIV) share price has plunged almost 11% to $7.59 after the commercial equipment rental and financing company released its full-year results. Although revenue increased 29.4% to $286 million, net profit tumbled a disappointing 9.8% to $20.2 million. I would suggest investors continue to stay well clear of this one.
