The S&P/ASX 200 index is on course to finish a disappointing week on a positive note. At the time of writing the benchmark index is trading ever so slightly higher at 6,408.9 points.
Four shares that are climbing more than most today are listed below. Here’s why they are ending the week with a bang:
The Baby Bunting Group Ltd (ASX: BBN) share price has stormed 12% higher to $2.73 after reporting strong profit growth in FY 2019. On a pro forma basis, the baby products retailer recorded a 19% increase in total sales to $362.3 million, above guidance EBITDA growth of 45.9% to $27.1 million, and net profit after tax growth of 58.2% to $15.1 million. Pleasingly, management’s guidance for FY 2020 implies net profit after tax growth of up to 46%.
The Cochlear Limited (ASX: COH) share price has risen 4.5% to $210.44 following the release of the hearing solutions company’s full year results. In FY 2019 Cochlear posted a net profit after tax of $276.7 million, which was up 13% (or 11% in constant currency) on FY 2018’s result. This compares favourably to the market consensus estimate for a net profit after tax of $269 million.
The Healius Ltd (ASX: HLS) share price is up 6.5% to $2.97 in response to a solid full year result from the healthcare company formally known as Primary Health Care. Healius reported an underlying net profit after tax of $93.2 million, which was up 6.5% year on year. This result reflected increasingly positive momentum in all three of its divisions.
The Star Entertainment Group Ltd (ASX: SGR) share price has jumped 7.5% to $3.85 after the release of the casino and resort operator’s full year results. For the 12 months ended June 30, Star delivered a statutory net profit after tax of $198 million, up 33.7% on FY 2018’s result. This strong growth was driven largely by a significantly better win rate. Star recorded a win rate of 1.38% this year versus 1.16% in FY 2018.
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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Cochlear Ltd. The Motley Fool Australia has recommended Cochlear Ltd. 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