Week four of reporting season was jam-packed with another large number of results. Some good, some bad.
Among the best results of the week were the three listed below. Here's what happened:
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Nanosonics Ltd (ASX: NAN)
The Nanosonics share price was a strong performer last week after investors responded very positively to its full year results release. For the 12 months ended 30 June, the infection prevention specialist reported a 3% increase in revenue to $103.1 million and a 15% decline in net profit after tax to $8.6 million. While this may not initially look impressive, its profits were actually significantly ahead of estimates. This was driven by a strong recovery in the second half. Pleasingly, management expects its recovery to continue in FY 2022. It is guiding to double-digit revenue growth in FY 2022. But arguably getting investors the most excited was the announcement of another new product – Nanosonics Coris. This new platform, which is expected to be launched in calendar year 2023, is for cleaning flexible endoscopes.
Sonic Healthcare Limited (ASX: SHL)
The Sonic share price edged higher last week the release of its exceptionally strong full year results. For the 12 months ended 30 June, the healthcare company delivered a 28% increase in revenue to $8.8 billion and a 149% lift in net profit to $1.3 billion. This was driven largely by strong demand for COVID-19 testing services. However, its base business (non-COVID testing operations) also contributed, delivering a 6% increase in revenue for the period.
WiseTech Global Ltd (ASX: WTC)
The WiseTech share price was on fire last week after it smashed its earnings guidance in FY 2021. The logistics solutions platform provider reported an 18% increase in revenue to $507.5 million and a 63% jump in EBITDA to $206.7 million. This compares to its upgraded guidance for revenue of $470 million to $510 million and EBITDA of $165 million to $190 million. Pleasingly, more strong growth is expected in FY 2022. Management is guiding to EBITDA growth of 26% to 38% for the year ahead.
