It was yet another busy day of results releases on Tuesday and a number appear to have flown under the radar of investors.
Three results that are worth knowing about are summarised below:
Estia Health Ltd (ASX: EHE)
This aged care operator's shares traded lower on Tuesday after it released its half year results. During the first half of FY 2019 Estia Health delivered a 6.6% increase in revenue to $289.7 million and a 4.1% lift in net profit after tax to $21.1 million. The company finished the period with an average occupancy rate of 93.9%, which was lower than expected due to challenging trading conditions.
Looking ahead, management has downgraded its full year EBITDA guidance range to a low to mid single digit percentage increase on FY 2018's EBITDA from its existing portfolio of homes. Previously management had expected a mid single digit percentage increase.
Macquarie Telecom Group Ltd (ASX: MAQ)
The Macquarie Telecom share price will be on watch today after it announced a solid half year result after the market close on Tuesday. The data centre, cloud, cyber security, and telecom company posted a 4% increase in revenue to $119.6 million and a 13% lift in EBITDA to $25.5 million, which was in line with its guidance.
Once again, the company's Hosting segment was the key driver of growth, delivering a 14% increase in segment EBITDA to $15.3 million. The good news is the segment is likely to be given a boost in the second half when it begins billing its Fortune 100 customer for Stage 3 and Data Hall 4. Combined with increasing demand from Federal Government agencies, management expects strong full year sale growth to lead to full year EBITDA in the range of $51 million to $53 million.
MNF Group Ltd (ASX: MNF)
The MNF Group share price sank 10% lower on Tuesday after the provider of voice, data, and cloud-based communication and communication enablement services released a disappointing half year result. In the first half of FY 2019 MNF posted a 16% decline in revenue to $98.1 million and a sizeable 49% decline in net profit after tax to $3.1 million.
As a result of this poor first half management has downgraded its full year guidance. Instead of net profit after tax of $12.8 million, it expects to deliver a full year profit between $11 million and $12 million. Management has held firm with its FY 2020 guidance, but the market appears unconvinced that this will be achieved judging by yesterday's selling.
