It was another busy day of releases on Wednesday with highlights including the full year results of Bellamy's Australia Ltd (ASX: BAL) and Boral Limited (ASX: BLD).
With so many results being announced, I wouldn't be surprised if these three slipped under the radar:
The Australian Vintage Limited (ASX: AVG) share price dropped 1% to 54 cents today despite the wine company posting a net profit after tax of $7.7 million on revenue of $264.6 million. This was an increase of 79% and 16.9%, respectively, on FY 2017's result. A key driver of this growth was a 14% increase in the sales of its McGuigan, Tempus Two, and Nepenthe brands. North American sales grew 31% in FY 2018 thanks to a significant increase in sales to Canada. Management expects earnings growth of 10% in FY 2019 based on a GBP exchange rate remaining at around 56 pence. If the British pound isn't hit by the Brexit, I feel Australian Vintage could be a great investment.
The Cabcharge Australia Limited (ASX: CAB) share price sank 7% lower to $2.10 after the payments company reported a 22% increase in revenue to $185.5 million, but a 36.2% decline in underlying profit after tax to $13.6 million. The decline in profits led to the Cabcharge board slashing its full year dividend down to 8 cents from 20 cents in FY 2017. While the company appears positive on the year ahead, it seems some investors aren't sticking around to find out how it fares.
The Marley Spoon AG (ASX: MMM) share price finished the day flat at 95 cents after releasing its half year results. The subscription-based weekly meal kit company posted half year revenue of €39.5 million on a constant currency basis, up 99% on the prior corresponding period. Marley Spoon's top line was boosted by strong growth across all regions, particularly in Australia. The strong first half means that the company is on track to meet its prospectus forecast for FY 2018.
