The ASX 200 rose today. Temple & Webster shares went up after reporting its result.
The post ASX 200 rises, Temple & Webster surges, Japara soars appeared first on The Motley Fool Australia. –
The S&P/ASX 200 Index (ASX: XJO) rose by 0.5% today to 7,431 points.
Here are some of the highlights from the ASX:
Temple & Webster Group Ltd (ASX: TPW)
The Temple & Webster share price finished the day higher by around 7.4%. The online furniture and homewares business reported its FY21 result.
The company revealed a record year for revenue profit and customers. Revenue went up 85% year on year to $326.3 million. Temple & Webster’s final three months still saw “strong” sales year on year growth of 26% despite the prior corresponding period’s e-commerce boom.
Temple & Webster’s earnings before interest, tax, depreciation and amortisation (EBITDA) went up 141% to $20.5 million.
Active customers went up by 62% in the 12 months to 30 June 2021 to 778,000.
The trade and commercial division saw revenue rise by 110% year on year.
The business revealed that it saw revenue per active customer increase by 12% compared to FY20 because of customers buying more often and spending more when they do purchase.
The first few weeks of FY22 has seen revenue grow by 39% year on year for the period of 1 July to 24 July 2021.
The Temple & Webster CEO Mark Coulter said:
While lockdowns during FY20 and FY21 have accelerated the underlying shift from offline to online, pleasingly we continue to see strong growth even when comparing against COVID impacted numbers.
While the start of FY22 has been difficult for many Australians, we remain focused on delivering a great experience for our customers, built around the biggest and best range of furniture and homewares, combined with inspirational content and services and a great delivery experience and customer service.
Japara Healthcare Ltd (ASX: JHC)
The Japara Healthcare share price jumped 18% after announcing it was accepting a takeover bid.
Japara announced it has entered into a scheme implementation deed (SID) with Little Company of Mary Health Care Ltd (Calvary).
The takeover price is $1.40 cash per share and Japara’s board of directors have unanimously recommended the deal, assuming a better offer doesn’t come in and an independent expert concludes the offer is good for shareholders.
This offer was a premium of 75% to the last undisturbed closing price of Japara on 29 April 2021 of $0.80.
BlueScope Steel Limited (ASX: BSL)
The BlueScope Steel share price jumped around 6.4% today after providing an update. It was one of the best performers in the ASX 200
It said that it expects preliminary unaudited underlying earnings before interest and tax (EBIT) for FY21 to be approximately $1.72 billion. The record second half contribution is expected to be approximately $1.19 billion, compared to previous guidance of $1 billion to $1.08 billion.
Since the ASX 200 company’s market update on 27 April, there have been two significant contributors that the company pointed to that helped performance. First, the US Midwest benchmark HRC steel prices continued to increase, surpassing prior expectations and favourably impacted realised prices at North Star and the North America coated business. Second, there has been stronger demand and realised spreads in Australia and New Zealand.
BlueScope managing director and CEO Mark Vassella said:
The business has gone from strength to strength in the second half of FY21, and all operating segments have delivered significantly better results than FY20.
The results reflect the positive macroeconomic environment with strong demand for our products, and the quality of our diverse portfolio.
While the COVID challenge remains, our performance is a great tribute to the professionalism and dedication of the entire BlueScope team who have operated with great resilience through the pandemic.
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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Temple & Webster Group Ltd. The Motley Fool Australia has recommended Temple & Webster Group Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.