The reporting season continues, with several companies in the food, pharma and retail sectors reporting final year results.
Poultry producer Inghams Group Ltd (ASX:ING) has seen its share price plunge by 19.77% (to$3.11) as it warned that core growth in poultry volumes for the following financial year (FY2025) would be 1% to 3% lower, due to phased introduction of the company’s new supply agreement with Woolworths, plus continuing cost-of-living pressures.
In terms of data for the 2024 fiscal year, Inghams said net profit (NPAT) had risen 68% to $101.5 million, while earnings (EBITDA) were up 12.6% to $471.1 million.
Dividends (fully franked) were declared at 20 cents per share, with this representing 37.9% on the prior comparable period, for a payout ratio of 73.1%.
Accent Group Ltd (ASX:AX1) – which owns Athletes Foot, Hype, UGG and Platypus Shoes – also saw a share price fall, by 14.7% (to $2.07), as it told investors that profits (NPAT) had dropped to $59.5 million in FY24, from $88.7 million the previous year.
Earnings had also fallen, with CEO Daniel Agostinelli citing a ‘more challenging consumer environment’.
Accent’s earnings before interest and tax (EBIT) was $110.4 million during the 2024 fiscal year, down from $138.8 million in FY23, although the company said this was in-line with guidance provided in July which had predicted an EBIT range of $109 million to $111 million.
The company’s (fully franked) final dividend was 4.5 cents per share, bringing dividends for the FY24 year to 13.0 cents per share (down from 17.5 cents per share in FY23).
However, there was some positive news for Mayne Pharma Group Ltd (ASX:MYX), whose shares were up 13.96% (to $4.49) on news that reported revenue for FY24 had risen 112% from the prior period to $388.4m.
All segments of the business showed rising revenues, with Women’s Health up 131% to $142.8 million, Dermatology up 207% to $174.9 million, and the International sector rising 9% to $70.7 million.
Mayne’s underlying earnings (EBITDA) had also grown by $118.2 million compared to FY23, for a FY24 figure of $22.9 million, and predicted that this would continue to trend upwards.