The S&P/ASX 200 Index (ASX: XJO) went up 0.5% today to 6,161 points.
It was another busy day for ASX 200 share reporting today:
Bingo Industries Ltd (ASX: BIN)
Bingo announced its FY20 result today. The Bingo share price went up 13%.
It said that underlying revenue rose by 21% to $486.7 million.
The underlying earnings before interest, tax, depreciation and amortisation (EBITDA) rose by 40.8% to $152.1 million. The underlying EBITDA margin improved by 440 basis points to 31.3%.
Operating free cashflow rose by 37.4% to $160.1 million.
Statutory net profit after tax (NPAT) rose by 196% to $66 million and statutory earnings per share (EPS) went up 159% to 10.1 cents.
Bingo's board decided that the final FY20 dividend would be 1.5 cents per share, bringing the annual dividend to 3.7 cents per share, almost the same as last year's 3.72 cents per share.
The company has seen momentum continue into FY21, however COVID-19 impacts may cause some disruption. But, infrastructure activity is expected to remain strong for the foreseeable future.
In order to maintain and grow volumes, Bingo expects the group EBITDA margin to decline by 200 basis points to 300 basis points, before rebounding to its longer term target of 30%.
It was the best performer in the ASX 200.
Ansell Limited (ASX: ANN)
Glovemaker business Ansell also reported its FY20 result today. The Ansell share price dropped 2%.
Ansell sales increased by 7.7% to US$1.6 billion with healthcare organic growth of 13.4% due to COVID-19 related demand – particularly for exam and single use products.
The business reported adjusted earnings before interest and tax (EBIT) rose by 8.3% year on year to US$219.7 million. Adjusted profit rose by 5.2% to US$158.7 million and EPS rose by 9.2% to US$1.218.
Ansell's board increased its full year dividend by 7% to US$0.50 per share, up 7% compared to FY19.
In FY21 the company is expecting continuing strong demand for the exam and single use industry, though this is likely to result in increased costs. These costs are expected to be recovered, but it is likely to mean that the EBIT margin will be negatively impacted.
FY21 EPS is expected to be in the range of US$1.26 to US$1.38. This guidance reflects the uncertainties relating to raw materials, foreign exchange, the ability to increase prices and the ability to increase supply of needed products.
Blackmores Limited (ASX: BKL)
The Blackmores share price fell by 5.6% today after reporting its FY20 result, it was one of the worst performers in the ASX 200.
Blackmores saw FY20 revenue drop by 3% to $568 million, with international revenue growth of 30% on the prior year. However, Australian sales fell by 15% to $227 million driven by lower sales from Chinese led demand.
Blackmores China sales – which represents export accounts and in-country sales – dropped 16% to $103 million. The export business, impacted by regulatory changes and price discounting, was down 30% on the prior year.
Blackmores said that its EBITDA dropped by 42% to $50.7 million and EBIT dropped 61.6% to $29.4 million.
Profit after tax from continuing operations fell 68.3% to $16 million.
The ASX 200 share's board decided not to pay a dividend due to COVID-19 uncertainty.
In FY21 the company is expecting full year profit growth in FY21 despite the additional cost variances which will arise from the first full year of Braeside manufacturing ownership. That profit growth is expected to largely come in the second half of the financial year. Due to COVID-19 uncertainties the company decided not to give full year FY21 guidance.
Blackmores believes it has taken the steps needed to rebuild. It has simplified its operating model, which should lead the company back to sustainable profit growth and restore future dividends.
