Why Integral Diagnostics, Mayne Pharma, NEXTDC, & Wesfarmers are dropping

In late trade on Friday, the S&P/ASX 200 Index (ASX: XJO) is on track to record a small decline. At the time of writing, the benchmark index is down 0.1% to 7,484.7 points.

Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:

Integral Diagnostics Ltd (ASX: IDX)

The Integral Diagnostics share price is down 15% to $4.60. This is despite the diagnostic imaging provider reporting a 27.2% increase in revenue to $350.9 million and a 25.3% jump in net profit to $38.1 million in FY 2021. Management revealing that some of its businesses have been hit with COVID-19 related restrictions and closures in FY 2022 appears to be weighing on its shares.

Mayne Pharma Group Ltd (ASX: MYX)

The Mayne Pharma share price has crashed 10% to 26.7 cents. This follows the release of a disappointing full year result by the pharmaceutical company. It reported a 12% decline in revenue to $400.8 million and an 18% reduction in EBITDA to $66.1 million. This was due to FX headwinds and weak generic products sales. Finally, due to another non-cash impairment of its generics business, Mayne Pharma posted a loss after tax of $208.4 million.

NEXTDC Ltd (ASX: NXT)

The NEXTDC share price is down over 5% to $12.79. Investors have been selling the data centre operator's shares despite it announcing a record result in FY 2021. NEXTDC reported a 23% lift in revenue to $246.1 million and a 29% increase in EBITDA to $134.5 million. Looking ahead, more strong growth is expected in FY 2022. Management is guiding to revenue growth of 16% to 20% and EBITDA growth of 19% to 23%.

Wesfarmers Ltd (ASX: WES)

The Wesfarmers share price is down 3% to $62.13. This follows the release of the conglomerate's full year results. Although Wesfarmers delivered strong profit growth in FY 2021 and announced a $2.3 billion capital return, its FY 2022 trading update looks to have concerned investors. Management revealed that Bunnings sales are down 4.7% financial year to date and combined Kmart and Target sales are down 14.3%.