At lunch on Wednesday the S&P/ASX 200 Index (ASX: XJO) is giving back a good portion of yesterday's gains. The benchmark index is currently down 0.45% to 6,809.8 points.
Here's what is happening on the market today:
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Woolworths half year results
The Woolworths Group Ltd (ASX: WOW) share price is pushing higher following the release of its half year results. The retail giant reported a 10.5% increase in revenue to $35.8 billion and 15.9% increase in net profit after tax to $1,135 million. This compares favourably to what analysts at Goldman Sachs were forecasting. They expected revenue of $35,789.7 million and a first half net profit of $1,030.2 million.
Blackmores jumps on improved performance
The Blackmores Limited (ASX: BKL) share price is jumping higher today after reporting a much-improved half year result. For the six months ended 31 December, Blackmores reported a 3% increase in revenue of $302.6 million. On the bottom line, the health supplements company posted an 8% increase in underlying net profit after tax to $19.4 million. This allowed the Blackmores Board to reinstate its dividend after a one-year hiatus. It declared a fully franked interim dividend of 29 cents per share.
Appen share price sinks
It has been a disappointing day for the Appen Ltd (ASX: APX) share price. The artificial intelligence services company's shares are sinking following the release of its full year results. For the 12 months ended 31 December, Appen posted a 12% increase in revenue to $599.9 million and an 8% lift in EBITDA to $108.6 million. In FY 2021, Appen is guiding to EBITDA growth of 18% to 28%. It appears as though the market was expecting stronger guidance.
Best and worst ASX 200 performers
The best performer on the ASX 200 today has been the IDP Education Ltd (ASX: IEL) share price with a 13% gain. This follows the release of a better than expected half year result. Going the other way, the worst performer has been the Nanosonics Ltd (ASX: NAN) share price with a 9.5% decline. Investors appear disappointed with the infection control specialist's half year results today.
