2 ASX 200 shares lifting to record highs before full-year results

Wesfarmers and the Goodman Group are looking good ahead of the release of their FY21 results
The post 2 ASX 200 shares lifting to record highs before full-year results appeared first on The Motley Fool Australia. –

Reporting season is well underway with household S&P/ASX 200 Index (ASX: XJO) shares including REA Group Limited (ASX: REA) and ResMed Inc (ASX: RMD) announcing FY21 results on Friday.

Company results can make or break the share price. However, these 2 ASX 200 shares have already run off into record territory.

ASX 200 shares trading at all-time highs

Wesfarmers Ltd (ASX: WES)

The Wesfarmers share price has rallied almost 24% year-to-date to a record close of $63.95 on Friday.

Wesfarmers is truly a diversified conglomerate. It made headlines with its interest in acquiring Australian Pharmaceutical Industries Ltd (ASX: API). Additonally, it gained ministerial approval to commence construction and project development for its Mt Holland lithium project.

ASX 200 shares in the lithium sector have been running hot in the past couple of months. Heavyweights Pilbara Minerals Ltd (ASX: PLS) and Galaxy Resources Limited (ASX: GXY) have cruised to triple-digit year-to-date returns.

With the approvals in place, this means Wesfarmers, which investors typically associate as the owner of Bunnings and Officeworks, will also emerge as a lithium hydroxide producer in the second half of 2024.

While Wesfarmers has exciting plans to diversify its business operations, investors will likely be fixated on its upcoming full-year results. Additionally, they will look at how its core retail businesses have performed over the past financial year.

Wesfarmers is expected to deliver its earnings on Friday, 27 August.

Goodman Group (ASX: GMG)

The Goodman share price has rallied strongly ever since it broke above the $20 level in early June.

Shares in the industrial real estate investment trust (REIT) have rallied 10% in the past month. They are also up 20.6% year-to-date.

In the company’s third-quarter update, group CEO Greg Goodman described the company’s portfolio. He said: “We have concentrated our portfolio in high barrier to entry markets where land is scarce and use is intensifying.

“With a focus on long-term customer requirements, we are developing to meet demand in these consumer markets, providing essential real estate infrastructure for our customers.”

According to Goodman’s website, the company is expected to report its full-year FY21 results on 12 August.

Goodman’s third-quarter update reaffirmed its FY21 guidance of $1.2 billion in operating profit. This represents earnings per share growth of 12% on FY20 figures.

The post 2 ASX 200 shares lifting to record highs before full-year results appeared first on The Motley Fool Australia.

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More reading

How does the Wesfarmers (ASX:WES) share price perform during lockdowns?
Wesfarmers (ASX:WES) share price hits new all-time high on renewed API interest
Why the Wesfarmers (ASX:WES) share price is trading at record highs
Here’s why the Coles (ASX:COL) share price is up 7% this last month
Should you buy Wesfarmers (ASX:WES) shares in August 2021 for the dividend yield?

Motley Fool contributor Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended ResMed. The Motley Fool Australia owns shares of and has recommended Wesfarmers Limited. The Motley Fool Australia has recommended REA Group Limited and ResMed Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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