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5 of the best results from ASX reporting season

Reporting season is finally over. There were some strong numbers from ASX shares. Some results got a positive reaction from investors. This article is about five of my favourite.

I think that every report is interesting. It’s like Christmas morning – opening the result and seeing what’s inside. I thought the below ones were particularly interesting.

Altium Limited (ASX: ALU)

The electronics design software business impressed investors with what it reported. There was a whole range of growth numbers reported in the FY22 result. Revenue grew by 23% to US$220.8 million and Octopart revenue rose 75% to US$50 million. Net profit after tax (NPAT) grew by 57% to US$55.5 million and the full-year dividend up 18% to 47 cents per share.

Not only did the ASX share report a return to growth, but it’s expecting good growth to continue in FY23. Total revenue is expected to be between US$255 million to US$265 million. This would be growth of between 15% to 20%.

I think the result showed that Altium is back and the longer-term outlook is very promising as the world becomes increasingly digital and complex.

Pro Medicus Ltd (ASX: PME)

The medical technology ASX share reported another strong set of numbers in FY22, which I think demonstrated it continues to be one of the highest-quality ASX shares around.

It’s impressive how the company’s regular large contract wins keep coming, and the fact that renewals are coming at a higher price is promising for future revenue growth. Revenue rose by 37.7% to $93.5 million and the NPAT rose 44.1% to $44.4 million. The full year dividend of 22 cents per share was an increase of 47%.

The company said that the pipeline was strong and there are clients considering multiple products.

Wesfarmers Ltd (ASX: WES)

Wesfarmers is one the blue chips I like and I thought the second half of the FY22 result was particularly strong as it managed to swing back to profit.

I was impressed that Bunnings managed to continue to achieve solid revenue, despite the huge amount of sales it had generated in FY20 and FY21.

While net profit did decline slightly for the year, it rose by 13.1% in the second half. The first half included plenty of COVID-19 impacts such as store trading restrictions or closures. FY22 revenue rose by 8.5% to $36.8 billion and statutory net profit declined 1.2% to $2.35 billion.

Idp Education Ltd (ASX: IEL)

English language testing and student placement business IDP Education was heavily impacted during COVID as lockdowns and closed borders impacted earnings.

However, FY22 showed a strong rebound for the company and demonstrated the operating leverage within the business. I think strong the increase in profit margins shows how much more profit the ASX share could make as demand returns.

FY22 total revenue increased 50% to $793.3 million, EBITDA (EBITDA explained) increased by 94% to $197.1 million and net profit after tax rose by 161% to $102.8 million.

JB Hi-Fi Limited (ASX: JBH)

I think that JB Hi-Fi is one of the best ASX retail shares around. Despite all of the talk of recession and the difficulty of beating prior year sales, JB Hi-Fi revealed a very impressive performance in FY22.

Total sales increased 3.5% to $9.23 billion, EBIT rose by 6.9% to $794.6 million and NPAT rose 7.7% to $544.9 million.

In July 2022, compared to July 2021, JB Hi-Fi Australia total sales increased 9.7%, JB Hi-Fi New Zealand total sales were down 0.9% and The Good Guys total sales grew by 7.8%. This is comparing to locked down periods in 2021.

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At the time of publishing, Jaz owns shares of Altium.
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