The ASX 200 (Index: ^AXJO) (ASX: XJO) was eventful this week, there were plenty of reports released. Here are four stories you may have missed that affected businesses in the ASX 200 index:
Bendigo and Adelaide Bank Ltd (ASX: BEN)
Bendigo Bank announced its half-year result this week. It reported that its statutory net profit fell 28.2% to $145.8 million, largely due to a pre-tax software impairment of $87.1 million and accelerated amortisation of $19 million.
Cash earnings after tax fell 2% to $215.4 million, though pleasingly the net interest margin improved by 2 basis points (0.02%) to 2.37%.
The Board decided to reduce the first half dividend by 4 cents to 31 cents per share. The bank also launched a $300 million capital raising to strengthen its balance sheet and invest for growth.
The electronic PCB software business reported its result this week.
Revenue increased by 19% to US$92.8 million, earnings before interest, tax, depreciation (EBITDA) rose by 22% to US$36.8 million, the EBITDA margin improved to 39.7% and profit before tax increased by 23% to US$31.8 million. Profit after tax fell 2% because of a large increase in the tax rate.
Cash on the balance sheet rose 39% to US$80.7 million and the Board increased the dividend by 25% to AU$0.20 per share.
However, the tech company is now only expecting to reach the low end of its FY20 guidance because of the coronavirus in China.
The share price is down almost 20% after reporting.
The logistics software business was another to report its interim result this week. Its share price is down by around 33% after reporting.
WiseTech said that total revenue and gross profit both grew by 31% to $156.7 million and $129 million respectively. Operating profit rose 17% to $35.9 million and net profit rose 160% to $23.1 million.
However, the company warned that 2020 wasn’t going to be as good as expected because of the shutdown in China due to the coronavirus. This is likely to cause a delay in logistics activities.
The travel business also announced its result this week. Total transaction value (TTV) increased by 25% to $2.33 billion and revenue increased by 24% to $217.8 million.
The underlying results showed increased across the board. Underlying EBITDA rose 43% to $86.3 million, the underlying EBITDA margin increased 523 basis points to 39.6% and underlying earnings per share (EPS) increased 22%.
However, the statutory result was painfully hurt by the collapse of Thomas Cook. Statutory EPS fell 68% to 6.6 cents.
The Board of Webjet increased the interim dividend to 9 cents per share.
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Motley Fool contributor Tristan Harrison owns shares of Altium. The Motley Fool Australia owns shares of Altium and WiseTech Global. The Motley Fool Australia has recommended Webjet 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.
