The S&P/ASX 200 Index (ASX: XJO) fell by 0.65% today to 6,781 points.
Here are some of the highlights from the ASX:
Reliance Worldwide Corporation Ltd (ASX: RWC)
The Reliance share price rose 6.6% today after the company impressed the market with a trading update for the first half of FY21.
It said that it achieved net sales of $642 million, up 13% on the prior corresponding period. Earnings before interest, tax, depreciation and amortisation (EBITDA) is expected to be in the range of $164 million to $167 million, up at least 30% compared to the prior corresponding period.
The company also said that EBITDA margins have increased as a result of the strong operational leverage driven by higher volumes, and each region is expected to report strong margin expansion for the period. The ASX 200 share's management said that a focus on executing its strategy has helped it meet the increased demand it has seen across the market.
Reliance also said that it's on track to meet its target of $25 million in annual cost savings on a run rate basis by the end of FY21.
The ASX 200 company said that its net debt was reduced by $76 million during the period.
RWC CEO Heath Sharp said: "The first half of the 2021 financial year has undoubtedly been a strong period for RWC and we are pleased with how the group has performed in demanding circumstances…We note that copper cost increases will negatively impact earnings in the second half and currency translation impacts may also adversely impact reported earnings."
Booktopia Group Ltd (ASX: BKG)
The share price of Booktopia rose by 9.4% after giving investors a trading update.
It said that for the six months to 31 December 2020, it saw its strongest month of shipments in December with approximately 728,000 units shipped during the month and 4.2 million units shipped in the first half.
This led to a 52% increase in revenue to $113 million. There was also a 506% increased in EBITDA (adjusted for IPO costs) to $8 million.
Booktopia said that the first stage of the company's $20 million expansion and automation project at the Lidcombe distribution centre in Sydney was completed in November and increased outbound capacity from 30,000 units to 60,000 units per day.
Tony Nash, the CEO of Booktopia, spoke of the possible growth into 2021: "We are confident the momentum and growth we experienced in 2020 should continue throughout the year and beyond and as a result the business is on track to meet forecasts provided in the company's prospectus."
Eagers Automotive Ltd (ASX: APE)
After the market had closed, the ASX 200 car dealership business gave a profit update for the 12 months ended 31 December 2020.
It said that the company is expecting to report an underlying operating profit before tax from continuing operations of $209.4 million for FY20, compared to $100.4 million for the prior corresponding period. This exceeds the profit guidance range given last month of $195 million to $205 million for 2020.
The company explained that the improved profit result compared to guidance has been delivered by stronger underlying operating profit before tax for both the car and truck retailing businesses.
The final result is expected to be released on 24 February 2021 after the external audit has been completed.
