S&P/ASX All Ordinaries Index (ASX: XAO) stocks may be down a collective 0.37% but these three ASX shares are heading higher after their 1H FY23 results were released today.
Let's take a look at what these companies reported.
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Service Stream Ltd (ASX: SSM)
This ASX All Ordinaries stock is up 5.04% to 62.5 cents at the time of writing.
In its half-year results, Service Stream announced a strong financial performance underpinned by the successful integration of Lendlease Services (LLS). Highlights include a 75.5% boost to revenue at $993.6 million. Underlying earnings before interest, taxes, depreciation, and amortisation (EBITDA) from operations came in at $55 million, up 40.1%. Adjusted net profit after tax (NPAT) is $17.1 million.
The telecommunications company said it has a solid balance sheet with a closing net debt of $91.2 million. Service Stream declared a fully franked interim dividend of 0.5 cents per share payable on 6 April.
McMillan Shakespeare Ltd (ASX: MMS)
This ASX All Ordinaries stock is up 5.24% to $13.65 at the time of writing.
The employee benefits provider also released its half-year results today. Highlights include a 5.7% increase to normalised EBITDA at $67.2 million and a 0.3% boost to normalised underlying net profit after tax and acquisition amortisation (UNPATA) at $40.4 million. If the United Kingdom business is excluded (given the company is considering exiting this market), UNPATA increased by 8.5%.
The company declared an interim fully franked dividend of 58 cents per share payable on 24 March. This is a 70% increase on last year's interim dividend.
Propel Funeral Partners Ltd (ASX: PFP)
This ASX All Ordinaries stock is up 0.91% to $4.44 at the time of writing.
The funeral services company says, "materially higher funeral volumes and stronger average revenue per funeral contributed to … continued growth in key financial and operating metrics in 1H FY23". Revenue is up 23.3% to $83.8 million, operating EBITDA is up 25.6% to $23.1 million, and operating NPAT is up 34.9% to $11 million. Propel says it has strong cash flow conversion and funding, with $44 million committed to five acquisitions over FY23 to date.
Propel Funeral Partners declared a fully franked interim dividend of 7.1 cents per share.
