The ASX 300 has had a busy Tuesday with company’s releasing their results.
The post Which ASX 300 shares are the biggest winners and losers on Tuesday? appeared first on The Motley Fool Australia. –
The S&P/ASX 300 Index (ASX: XKO) is continuing to rebound today, after spending all of last week in the red.
At the time of writing, the ASX 300 is up 0.40% to 7, 518 points. This means that the index is 1.5% off from reaching its all-time high of 7,625 points.
Let’s take a look at which ASX companies are leading the charge today.
Nanosonics Ltd (ASX: NAN)
The Nanosonics share price is rocketing 22.24% to $7.20 after the infection prevention company released its full-year results.
Nanosonics delivered a solid performance for the backend of the 2021 financial year, citing improved trading conditions. Most notably, the global installed base along with ultrasound procedure volumes trended back towards pre-pandemic levels.
Furthermore, the company is forecasting double-digit growth should positive market trends continue.
The result was clearly better than what investors had expected the company to report, sending its shares to a 6-month high.
Event Hospitality and Entertainment Ltd (ASX: EVT)
Another big mover on the ASX 300 is the Event share price, up 9.70% to a 52-week high of $14.53.
While the entertainment company reported its full-year results yesterday, it appears investors are looking past its disappointing numbers.
Event highlighted that while current COVID-19 lockdowns continue to hamper the business, it has seen a strong return to cinemas. Customers are spending more than before the pandemic began when quality films are showing.
In light of this, when vaccine numbers increase and Australia moves to post-COVID-19, future performance could stage a strong comeback.
Uniti Group Ltd (ASX: UWL)
The Uniti share price is accelerating 9.67% to a record high of $4.31 today following the telecommunications provider’s full-year results.
Uniti reached its highest revenue ever in the company’s history, attaining $159.9 million, up 175% on the prior corresponding period. The outstanding achievement came from several acquisitions and an increased number of secured premises.
The company’s national digital infrastructure footprint now spans across 1,199 sites in Australia.
Monadelphous Group Ltd (ASX: MND)
The worst performer on the ASX 300 today is the Monadelphous share price, down 14.50% to $10.08. This comes after the engineering company provided investors with its FY21 full-year results today.
While the performance of the 2021 financial year was positive, Monadelphous noted that FY22 would be challenging. Management revealed COVID-19 impacts and skills labour shortage could hamper the company’s operations.
Kogan.com Ltd (ASX: KGN)
Lastly, Kogan shares also crashed on Tuesday, declining 13.75% to $11.325. The e-commerce company also released its full-year results for the 2021 financial year.
Kogan stated that while revenue jumped by 56.8% to $780.7 million, its net profit after tax fell by 86.8% to $3.5 million. The business attributed the severe loss to inventory management issues, such as overstocking which led to increased storage costs.
Furthermore, the company refrained from paying a final dividend to shareholders, instead opting to conserve cash.
The post Which ASX 300 shares are the biggest winners and losers on Tuesday? appeared first on The Motley Fool Australia.
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Motley Fool contributor Aaron Teboneras 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 Kogan.com ltd and Nanosonics Limited. The Motley Fool Australia owns shares of and has recommended Kogan.com ltd and Nanosonics Limited. The Motley Fool Australia has recommended Uniti Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.