Search by ticker code:
Generic filters

Search by ticker code:
Generic filters

Search by ticker code:
Generic filters

ASX 200 morning report – COH, COL & HUB shares in focus

The unexpected run of earnings and profit surprises in 2021 wasn’t enough to offset geopolitical concerns from Russia, sending the S&P/ASX 200 (ASX: XJO) down 1% on Tuesday.

The losses remain focused around the higher-valued ASX tech and discretionary sectors, which were down 3.2% and 2.7%, respectively. Energy has been the biggest beneficiary given Russia’s key role in global oil and gas supply, with the sector gaining 1.9%.

Cochlear surprises to the upside

The highlight, however, was Cochlear Limited (ASX: COH) with the hearing aid producer gaining 9% and supporting the entire healthcare sector.

The company surprised analysts by delivering 190% HY22 revenue growth on a 7% increase in volumes, but converting this into another 25% jump in profit to $158 million.

Higher margins were attributed to strong cost control with management guiding to profit growth in 2022 of between 13% and 22%.

Costa share price rises on international growth

Shares in Costa Group Holdings Ltd (ASX: CGC) also gained 8.7% after the company announced record international revenue in China and Morocco, which supported a 4.8% lift in full-year sales. Profit fell 22% due to weakness within avocado sales, but the company continues to show strong signs of recovery.

Coles overcomes comparables

Coles Group Ltd (ASX: COL) appears to be navigating the difficult ‘comparables’ that come with the bumper 24-month period for grocery retailers, reporting a 1% increase in revenue on 2021’s inflated levels.

Profit fell 2% to $549 million for the half but was well ahead of estimates, with COVID-related staffing costs continuing to bite.

Liquor sales gained 2.7%, but convenience stores continued to struggle, down 8.5% in what analysts described as a ‘solid’ result; the dividend remained at 2021 levels.

Nanosonics share price crumbles

Nanosonics Ltd (ASX: NAN) shares tanked another 13% despite the infection protection company reporting a 41% increase in first-half revenue. Investors appear concerned about the outlook, with full-year guidance of double-digit revenue growth.

Hub24 & Seven gain

Shares in Hub24 Ltd (ASX: HUB) recovered some lost ground, gaining 4.8% with the fast-growing investment and super platform provider delivering a doubling of profit to $14.2 million. This once again evidenced the earnings potential of this tech-driven sector once they reach critical mass; funds under administration climbed to $68.3 billion.

Seven Group Holdings Ltd (ASX: SVW) shares fell 3.1% after the company reported a doubling of profit, primarily due to the booking of a $757 million gain on its strategic acquisition of a controlling stake in Boral Limited (ASX: BLD).

ASX 200 today

Looking ahead, the ASX 200 is expected to edge lower when the market opens this morning. This comes following a negative lead from US stock markets, with all three benchmarks falling by at least 1%.

The Golden Rules of Investing

We might be experts in retirement, but with combined financial advice experience of 35+ years, we’ve nearly seen it all. 

In mid-2023, our senior team at Wattle Partners Financial Planning put the finishing touches on a brand-new report “The Golden Rules of Investing“.

In this free report, we outline the key principles that determine all of the portfolio construction and investment decisions of Wattle Partners. Collated over decades, this paper should be seen as a work-in-progress, constantly under review in light of the ever-evolving nature of markets. 

You’ll find the free report on my Author page. Simply click the button below to view the Golden Rules.

Information warning: The information on this website is published by The Rask Group Pty Ltd (ABN: 36 622 810 995) is limited to factual information or (at most) general financial advice only. That means, the information and advice does not take into account your objectives, financial situation or needs. It is not specific to you, your needs, goals or objectives. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. Please read our Terms and Conditions and Financial Services Guide before using this website. The Rask Group Pty Ltd is a Corporate Authorised Representative (#1280930) of AFSL #383169.


At the time of publishing, the author of this article does not have a financial or commercial interest in any of the companies mentioned.

Powered by

Wattle Partners is a financial advice firm, servicing clients around Australia, specialising in retirement planning (pre and post retirement). 

Skip to content