The last 12 months certainly have been eventful for the S&P/ASX 200 index. During this time the benchmark index has carved out a gain of approximately 7.1% or 12% if you include dividends.
Unfortunately, not all shares on the index have managed to climb higher over the period. Here’s why the shares listed below disappointed investors in FY 2019:
The Galaxy Resources Limited (ASX: GXY) share price was the worst-performer on the ASX 200 index during FY 2019 with a decline of almost 60%. The catalyst for this decline was a collapse in lithium prices due to increasing supply and softening demand.
The Eclipx Group Ltd (ASX: ECX) share price wasn’t far behind with a sizeable 59% decline over the period. The fleet management company had a very eventful 12 months. It lost its CEO, recognised material impairment charges, and saw merger talks collapse.
The Nufarm Limited (ASX: NUF) share price has sunk a sizeable 53% over the last 12 months. The crop protection and specialist seeds company’s shares have come under pressure following the release of a disappointing half year result in March caused by the droughts.
The Costa Group Holdings Ltd (ASX: CGC) share price fell 51% during the last financial year. Investors headed to the exits in their droves after the horticulture company made a series of downgrades to its guidance due to weakness in prices and operational issues.
The Pact Group Holdings Ltd (ASX: PGH) share price tumbled 47% lower over the last 12 months. The packaging company’s shares came under pressure after it posted a statutory net loss after tax of $320 million in the first half.
The Ardent Leisure Group (ASX: ALG) share price has also crashed 47% lower over the period. Concerns over the slower than expected recovery of its Dreamworld business appears to have weighed on its shares.
The Bellamy’s Australia Ltd (ASX: BAL) share price tumbled almost 47% lower over the last 12 months due to delays in the company gaining the SAMR accreditation required to sell its key infant formula product in the massive China market.
The Orocobre Limited (ASX: ORE) share price has lost over 45% of its value over period. As with its rival Galaxy, this was due to a collapse in lithium prices.
The Emeco Holdings Limited (ASX: EHL) share price fell almost 45% during the last financial year. With the equipment rental company’s performance remaining solid, this appears to have been driven by profit taking after an incredible rally the previous year.
The Western Areas Ltd (ASX: WSA) share price also lost almost 45% of its value during the period. The catalyst for this share price weakness has been a sizeable decline in nickel prices.
The Challenger Ltd (ASX: CGF) share price has fallen 44% over the last 12 months. The majority of this decline was made in the second half of the financial year following a sudden deterioration in the annuities company’s performance.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Challenger Limited and COSTA GRP FPO. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2019