It's been a big week in the August earnings season with scores of ASX businesses reporting their results. Today, these three ASX shares are taking off after their companies posted details of their FY22 profits.

Let's take a look.

Slater & Gordon Limited (ASX: SGH)

The Slater & Gordon share price is up 9.57% to 63 cents today. This follows the law firm releasing its full-year FY22 results and a business update this morning.

The company said its results proved it had turned things around in the second half of FY22 after COVID-19 lockdowns caused problems in 1H FY22.

It reported a net profit after tax (NPAT) of $2.2 million for the full year. This was achieved from a net loss position of ($7.5 million) after 1H FY22. But the full-year result is well down on the $14.5 million of NPAT in the prior corresponding period (pcp).

The firm's net asset position improved to $184 million, up from $180.5 million pcp.

Slater & Gordon CEO John Somerville said:

When we reported our half year results in February, we said we had started to see signs of improvement following the lifting of lockdowns and we are pleased that the second half saw the continuation of that trend with the business returning to deliver an overall profit for the year.

Our firm continues to make good progress on its improvement and growth plans, but we recognise we still have more work to do.

360 Capital Group Ltd (ASX: TGP)

The 360 Capital Group Ltd share price is soaring 10.12% today to 93 cents. This is also on the back of full-year FY22 results released today.

The company reported operating revenue of $53.9 million, up 157% pcp. Its operating profit was $30.9 million, up 240% pcp. Operating earnings per share (EPS) came in at 14.1 cents per share, up 236% pcp.

The group also announced a special dividend of eight cents per share payable on 7 October. Shareholders will receive this on top of the six cents per share in total ordinary dividends paid this year.

The company says its principal investing continues to drive profits. It has also simplified the business to focus on its core strengths of real estate investing and funds management.

Part of that simplification process was selling its 19.9% stake in Irongate Group to Charter Hall Group (ASC: CHC). It also bought certain assets as part of the transaction.

This improved the balance sheet. After settlement on 15 July, the company had more than $160 million in cash, no bank debt, and $49.4 million in liquid assets.

This provides "the opportunity to capitalise on market volatility and dislocation given the Group's 16-year track record of real estate investing".

Close The Loop Inc (ASX: CLG)

Close The Loop Inc is a relatively new entrant to the ASX. It began trading in December 2021.

As my colleague Sebastian reported at the time, the Close the Loop share price skyrocketed 55% on its first day of trading to a high of 31 cents. That's well beyond its initial public offering (IPO) price of 20 cents.

The company describes itself as "an end-to-end solutions provider from design and manufacturing, through to collection and recycling of products".

It released its full-year FY22 statutory accounts, a trading update, and an investor presentation today.

ASX investors appear to be very happy with what Close the Loop told them today, with the share price up 9.52% to 46 cents this afternoon.

It reported revenue of $89.2 million, which was 20.7% above the prospectus forecast and up 32.3% pcp. Its earnings before interest, tax, depreciation and amortisation (EBITDA) was $14.3 million, 16.3% above prospectus forecast and up 8.3% pcp.

The company said: "Strong organic revenue growth across all divisions contributed to significant earnings uplift."

Close the Loop also made various acquisitions during the year. It increased its net tangible assets per share from 0.96 cents at 30 June 2021 to 7.31 cents at 30 June 2022.

Group CEO Joe Foster said:

Close the Loop Group's strong performance in our first full year reporting period as an ASX-listed company has ensured we have achieved or exceeded key prospectus metrics and delivered on our strategic pillars.

We acquired complementary and earnings accretive businesses in Oceanic Agencies and Crasti & Co. and, in July, added Alliance Paper. These three acquisitions add to the cumulative power Close the Loop has in its ability as the only ASX-listed company operating in all parts in the circular economy – from product design, manufacturing, collection and recycling and then eventually recovering it as new packaging or secondary products, or simply packaging to packaging.

The post 3 ASX shares rocketing 10% on positive earnings updates appeared first on The Motley Fool Australia.

WAM operates several listed investment companies (LICs). Some focus on larger companies like WAM Leaders Ltd (ASX: WLE) and WAM Capital Limited (ASX: WAM).

There's also one called WAM Microcap Limited (ASX: WMI) which focuses on small-cap ASX shares with a market capitalisation under $300 million at acquisition.

WAM says WAM Microcap targets "the most exciting undervalued growth opportunities in the Australian microcap market".

These are the two small-cap ASX shares the fund manager outlined in its most recent monthly update:

Ridley Corporation Ltd (ASX: RIC)

Ridley is described as Australia's largest commercial provider of high-performance animal nutrition solutions.

The fund manager said that in June, Ridley Corporation attracted attention from other companies looking to purchase its shares after speculation that AGR Partners, a substantial shareholder of the business, is looking to exit.

At the end of May, Ridley Corporation announced its FY23 to FY25 growth plan which supports the ongoing earnings momentum of the business.

WAM said the framework for Ridley Corporation's capital allocation under its growth plan is expected to "allow the company to deliver a total shareholder return (TSR) of over 15% per annum" and an increase in the indicative dividend payment ratio from between 40% to 60%, to 50% to 70% of net profit after tax (NPAT).

The fund manager said that it remained "confident" in the outlook for Ridley Corporation and its CEO Quinton Hildebrand who, in WAM's view, has "executed strongly" to date by divesting unprofitable business units and structurally lowering costs, helping organic growth.

It must be noted that WAM recently sold shares on 19 July 2022, but it has been regularly buying (and selling) shares of Ridley during 2022.

Close The Loop Inc (ASX: CLG)

This ASX small-cap share is described as an end-to-end solutions provider from design and manufacturing through to the collection and recycling of waste products across a variety of markets.

WAM noted that the company provided a trading update ahead of its first investor day and presentation. In that trading update, the company upgraded its FY22 revenue forecast to $82 million and increased its earnings before interest, tax, depreciation and amortisation (EBITDA) forecast to $13.6 million.

What caused this upgrade? The fund manager explained it was due to "strong organic growth across all divisions", particularly in the US and Europe packaging and recycling segment.

WAM pointed out that there is a "strong outlook" for the small-cap ASX share, with an annual revenue run-rate of over $100 million. Growth is expected to be further increased through add-on acquisitions. Non-binding term sheets had been signed for three acquisitions. The company recently announced the acquisition of Alliance Paper.

The fund manager said Close The Loop is "under-researched with no broker coverage and over time, this provides a catalyst to drive a further share price re-rating."

The post 2 small-cap ASX shares this fund manager is 'confident' about appeared first on The Motley Fool Australia.

Shares of Close The Loop Inc (ASX: CLG) are surging 24% into the green on Wednesday, now trading at 46 cents.

Investors might be bidding up the Close The Loop share price amid a company announcement upgrading its FY22 forecasts.

In broad market moves, the S&P/ASX 200 Index (ASX: XJO) has climbed 9 basis points into the green in today's session.

Close The Loop boosts guidance

The company reports that it has realised strong organic revenue growth across all divisions, notably in the United States and Europe.

According to the release, "earnings [are] significantly ahead of plan" in each of these divisions, alongside strengths in its O F Pack, O F Flexo and Foster International segments.

As such, Close The Loop has upgraded its FY22 revenue and EBITDA prospectus forecasts by 11% and 10.5%, respectively.

It now forecasts $82 million and $13.6 million in FY22 revenue and EBITDA, respectively. That's up from $74 million and $12.3 million in previous estimates.

Not only that, but the company's current annual revenue run rate now exceeds $100 million including recent acquisitions, it says.

Separately, the company notes it has signed an MOU to produce its Resin8 structural and concrete product range in Australia. The decision comes after its launch "in other parts of the world".

Speaking on the release, Close The Loop CEO Joe Foster said:

In our first six months as a listed entity Close The Loop Group has enjoyed considerable organic revenue growth across all divisions and we are increasing our FY22 revenue and EBITDA prospectus forecasts by 11% and 10.5% respectively.

This is due to our ability to successfully integrate complementary businesses that strengthen our capability as the only ASX-listed company operating in all parts of the circular economy. From product design, manufacturing, collection and recycling and then eventually recovering it as new packaging or secondary products, or simply packaging to packaging. When you take our acquisitions of Crasti & Co and Oceanic Agencies into account, we now have annualised revenue of around $100 million.

What's next for Close The Loop?

The company is now looking to venture into the South African market via its sustainable packaging business. It is currently examining three possible "complementary acquisitions".

Foster added:

While FY22 is shaping up to be a great year for the company, Close The Loop Group is also ensuring that upgrading its ability to scale as demand for recycled products generated through the circular economy increases. These initiatives include production capacity increases, efficiency improvements, new product ranges as well as examining strategic acquisition opportunities.

Close The Loop Group will host its inaugural investor day tomorrow (2 June) at its facilities in Somerton, Victoria.

The Close The Loop share price has gained 50% after listing in December 2021. It is now up more than 40% for the past month of trade.

The post Close The Loop share price rockets 24% on guidance boost appeared first on The Motley Fool Australia.

Fortunately for investors in Close the Loop Ltd (ASX: CLG), this company's inaugural day of ASX trading today seems to fall into the former category.

Close the Loop shares have just IPOed on the ASX boards. And so far, it's going well. To understate it. The company is currently trading at 31 cents a share. That's a whopping 55% ahead of the initial IPO pricing of 20 cents a share that the company took its shares to market at. No doubt there are some champagne corks being unleashed over at the Close the Loop company offices as we speak.

Close the Loop share price rockets on IPO

Close the Loop is a company that is aiming to provide 'end-to-end' solutions for the designing, manufacturing and recycling of products (hence the name). It's actually a newly merged entity. It follows the marriage of the old Close the Loop with O F Packaging.

Here's how CEO Joe Foster described it this morning:

Today, Close the Loop becomes Australia's most advanced vertically integrated design, manufacturing, collection and recycling company, that reduces waste to landfill and gets recycled content back into new products. 

Our award-winning packaging products and regenerative uses for plastics help companies stay ahead of evolving recycling guidelines and regulations.

So the company raised $12 million ahead of its public float from the placement of its shares at 20 cents each. That price valued the company at a market capitalisation of $65.9 million. At the company's current post-IPO price of 31 cents a share, its market cap would be closer to $102.15 million.

The post Close The Loop (ASX:CLG) share price rockets 55% on IPO appeared first on The Motley Fool Australia.