Last week was a big week for Australian investors with a number of companies such as Bellamy's Australia Ltd (ASX: BAL), Domino's Pizza Enterprises Ltd. (ASX: DMP), and Webjet Limited (ASX: WEB) deservedly stealing the headlines after delivering bumper profit growth.
Although they went largely unnoticed, the following two shares also pleased their respective shareholders last week by reporting solid results of their own. Here they are:
Automotive Holdings Group Ltd (ASX: AHG)
Automotive Holdings Group's share price has risen over 6% since it reported record revenue of $5.6 billion, up 7.2% year on year. Although the bottom line performance was not as strong, the company still posted a 3.2% rise in operating profit after tax of $97.2 million, equating to full year earnings per share of 31.7 cents.
Its Automotive Retail division was the standout performer for the year, with revenue rising 10.6% to $4.7 billion and operating EBITDA jumping 10.4% to $177.9 million. Unfortunately its Refrigerated Logistics and Other Logistics divisions didn't follow suit, each posting steep declines in revenue and EBITDA.
Although the results were a reasonably mixed bag, investors appear pleased with the company's plan to raise $90 million via a fully underwritten placement. Management advised that the raised funds will be used to acquire Audi Newcastle, reduce its debt and strengthen its balance sheet.
Beacon Lighting Group Ltd (ASX: BLX)
In May the Beacon Lighting share price dropped over 20% following the release of a disappointing trading update to the market. The update revealed that weak consumer confidence and competitive pressures meant the company expected full year EBITDA to come in between the range of $28.2 million and $29.2 million, compared with $27.4 million for the corresponding period in FY 2015.
Last week the company delivered on the top end of its guidance with EBITDA coming in 6.5% higher on last year at $29.2 million. This sent its share price up by almost 11%. Although this is still a disappointing performance considering EBITDA grew 21% in the first half, investors appear confident that FY 2017 is going to be an improvement. Management revealed that it expects its current growth strategies to drive improved sales and profits next year.
