3 ASX full year results you might have missed on Monday

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Disappointing results

It was another busy day or results releases on Monday with the likes of Altium Limited (ASX: ALU) and NIB Holdings Limited (ASX: NHF) taking centre stages.

With so many releases, a number of results inevitably slipped under the radar. Three which you might have missed are summarised below:

Gage Roads Brewing Co Limited (ASX: GRB)

This brewing company reported a 20% increase in revenue to $39.7 million and a 25% lift in EBITDA to $5.5 million in FY 2019. This was driven by strong growth across all channels resulting in total proprietary brands sales for the year being up 60% to 8 million litres. Furthermore, with its own-brand portion of the total sales mix growing from 39% in FY 2018 to 61% in FY 2019, the company saw its gross margin widen by 3 percentage points to 64%. Looking ahead, management expects further growth in annual volumes of its brands, “delivering improved margins and sustained earnings growth through the shift in sales mix towards higher margin products.”

Rhipe Ltd (ASX: RHP)

This cloud channel company’s shares tumbled lower on Monday despite delivering strong growth in FY 2019. Rhipe posted a 28% increase in sales to $253 million and doubled its profit after tax to $6.2 million. This strong performance was driven by strong momentum in public cloud via the Microsoft Cloud Solutions Provider program. This led to the company’s partners now consuming more than 450,000 Office365 paid seats, up approximately 80% year on year, and more than 600,000 Office365 seats in total including zero fee academic seats. In FY 2020 the company expects operating profit growth of 25%. I suspect that the market was expecting even stronger guidance.

Wagners Holding Company Ltd (ASX: WGN)

This building supplies company’s shares will be on watch on Tuesday following the after-hours release of a disappointing full year result. Wagners posted a sizeable 35% decline in earnings before interest and tax to $25.6 million. This was caused by delays in large mobile concrete and precast infrastructure projects, increased costs associated with the establishment of its concrete business, and disruption in the south east Queensland cement market. Management warned that the latter has continued in FY 2020. This could weigh on its shares in the near term.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Altium. The Motley Fool Australia has recommended NIB Holdings Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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