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Reece is now under Algo Engine buy conditions.
The FY21 result highlighted strong sales trends in both Australia and
the US, however, costs in the US dampened the operating profit.
The market is looking for 10% EPS growth into FY22 and FY23 which places REH on 30X forward earnings and 1% dividend yield.
Cleanaway Waste Management is under Algo Engine buy conditions and is a current holding in our ASX 100 model portfolio.
Cleanaway financial results for the year ended 30 June 2021
Statutory Net Profit After Tax (NPAT) increased 31.2% from $112.6 million to $147.7 million.
On an Underlying basis compared to the year ended 30 June 2020 (“FY20”) Cleanaway reported:
• NPAT increased 2.1% from $150.0 million to $153.2 million
• EBITDA increased 3.8% from $515.7 million to $535.1 million
• Net revenue increased 4.7% from $2.1 billion to $2.2 billion
• Operating cash flow increased 5.7% from $401.5 million to $424.4 million
• Final dividend increased 11.9% from 2.10 cents per share (cps) to 2.35 cps, taking the total dividend for the year 12.2% higher to 4.60 cps
Zip Co is under Algo Engine buy conditions.
Revenue was up 150% to $403m and the pre-tax loss -$718m.
Zip said its cash earnings before tax, depreciation and amortisation loss was $22.9 million, which missed consensus expectations for positive earnings of between $8 million and $9 million.
Its total reported loss of $653 million was just below the total amount of capital that Zip raised over the year to support its global growth.
We’re watching ZIP with a great deal of interest but remain cautious on the sector trends with regards to increasing bad debts.
Clinuvel Pharmaceuticals is under Algo Engine buy conditions. Company revenues increased 47% in FY21, helping to boost profits by nearly two-thirds to $24.7 million. The revenues were powered by strong patient demand in Europe and the US.
U.S. business equipment spending strong even as new orders flat in July
New orders for key U.S.-made capital goods were unexpectedly flat in July amid supply constraints and a shift in demand to services, suggesting that business spending on equipment could slow in the second half after robust growth over the past year.
Bega Cheese is under Algo Engine buy conditions and is a current holding in our ASX model portfolio.
Accumulate within the $5.00 – $5.25 price range.
Update: 27/8 Bega FY21 Earnings release: Performance highlights
Reduction in normalised EBITDA to net debt leverage
ratio from 2.35 times to 2.25 times
Normalised EBITDA increased by 38% to $141.7 million
Statutory EBITDA increase by 108% to $182.7 million
Operating cash flow $111.4 million
Link Administration Holdings reported FY21 profit of $112m. FY22 guidance is now low single-digit revenue growth and flat EBIT.
The downside in the share price is underpinned to a certain degree through the announced buyback of $150m.
The forward dividend yield is 2.7%.
Cleanaway Waste Management is under Algo Engine buy conditions and is a current holding in our ASX 100 model portfolio.
Level 17 Chifley Tower
2 Chifley Square
Sydney, NSW 2000
1300 614 002
Investor Signals Pty Ltd
ABN 44 143 555 453
