At lunch on Tuesday, the S&P/ASX 200 Index (ASX: XJO) has followed the lead of US markets and is pushing higher. The benchmark index is currently up 0.25% to 7,510.3 points.
Here's what is happening on the ASX 200 today:
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Kogan share price crashes
The Kogan.com Ltd (ASX: KGN) share price is being crushed on Tuesday following the release of its full year results. For the 12 months ended 30 June, the ecommerce company reported gross sales growth of 52.7% to $1,179 million but an 86.8% decline in net profit after tax to $3.5 million. The latter was driven by inventory issues and led to Kogan pausing its dividends. Looking ahead, July wasn't much better, with the company reporting a small increase in gross sales and an 80% reduction in EBITDA.
Nanosonics share price rockets
The Nanosonics Ltd (ASX: NAN) share price is rocketing higher today following the release of its full year results. For the 12 months ended 30 June, the infection prevention specialist reported a 3% increase in revenue to $103.1 million and a 15% decline in net profit after tax to $8.6 million. This was better than the market was expecting and driven by a significant second half recovery. During the second half, the company's revenue increased 39% on the first half. Looking ahead, management is guiding to double-digit revenue growth in FY 2022 if trading conditions remain consistent.
SEEK results
The SEEK Limited (ASX: SEK) share price is edging lower today after it delivered a full year result just a touch short of expectations. In FY 2021, SEEK's revenue increased 1% to $1,591 and its EBITDA rose 15% to $474 million. The latter compares to SEEK's guidance of $480 million and the market consensus estimate of $487 million.
Best and worst ASX 200 performers
The best performer on the ASX 200 on Tuesday has been the Nanosonics share price with an 18% gain following its results release. The worst performer has been the Monadelphous Group Limited (ASX: MND) share price with a 15% decline. This morning the engineering company released its full year results and warned that FY 2022 would be challenging.
