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Why Integral Diagnostics, Mayne Pharma, NEXTDC, & Wesfarmers are dropping

These ASX shares are ending the week in the red…
The post Why Integral Diagnostics, Mayne Pharma, NEXTDC, & Wesfarmers are dropping appeared first on The Motley Fool Australia. –

In late trade on Friday, the S&P/ASX 200 Index (ASX: XJO) is on track to record a small decline. At the time of writing, the benchmark index is down 0.1% to 7,484.7 points.

Four ASX shares that are falling more than most today are listed below. Here’s why they are dropping:

Integral Diagnostics Ltd (ASX: IDX)

The Integral Diagnostics share price is down 15% to $4.60. This is despite the diagnostic imaging provider reporting a 27.2% increase in revenue to $350.9 million and a 25.3% jump in net profit to $38.1 million in FY 2021. Management revealing that some of its businesses have been hit with COVID-19 related restrictions and closures in FY 2022 appears to be weighing on its shares.

Mayne Pharma Group Ltd (ASX: MYX)

The Mayne Pharma share price has crashed 10% to 26.7 cents. This follows the release of a disappointing full year result by the pharmaceutical company. It reported a 12% decline in revenue to $400.8 million and an 18% reduction in EBITDA to $66.1 million. This was due to FX headwinds and weak generic products sales. Finally, due to another non-cash impairment of its generics business, Mayne Pharma posted a loss after tax of $208.4 million.

NEXTDC Ltd (ASX: NXT)

The NEXTDC share price is down over 5% to $12.79. Investors have been selling the data centre operator’s shares despite it announcing a record result in FY 2021. NEXTDC reported a 23% lift in revenue to $246.1 million and a 29% increase in EBITDA to $134.5 million. Looking ahead, more strong growth is expected in FY 2022. Management is guiding to revenue growth of 16% to 20% and EBITDA growth of 19% to 23%.

Wesfarmers Ltd (ASX: WES)

The Wesfarmers share price is down 3% to $62.13. This follows the release of the conglomerate’s full year results. Although Wesfarmers delivered strong profit growth in FY 2021 and announced a $2.3 billion capital return, its FY 2022 trading update looks to have concerned investors. Management revealed that Bunnings sales are down 4.7% financial year to date and combined Kmart and Target sales are down 14.3%.

The post Why Integral Diagnostics, Mayne Pharma, NEXTDC, & Wesfarmers are dropping appeared first on The Motley Fool Australia.

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More reading

Wesfarmers (ASX:WES) share price slides as FY21 results flag weak near-term outlook
Integral Diagnostics (ASX:IDX) share price slides 14% on FY21 earnings
Which ASX shares are ending the week as the biggest movers today?

Mayne Pharma (ASX:MYX) share price crashes 10% on $208.4m loss in FY21
ASX 200 midday update: Wesfarmers’ $2.3bn capital return, Appen & Pilbara Minerals fall

Motley Fool contributor James Mickleboro owns shares of NEXTDC Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Wesfarmers Limited. The Motley Fool Australia has recommended Integral Diagnostics Ltd. 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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