Stocks of the Hour: Nanosonics, Costa Group & G8 Education

Company News

by Lauren Evans

Medical device company Nanosonics (ASX:NAN) has posted its half year results for the six months ending December 31. Its profit after tax rose 165 per cent to $3.9 million, while its revenue lifted 41 per cent to $60.6 million. The company said despite the rapid increase in Covid-19 infections and staff shortages, they maintained momentum throughout the half. The company did not declare an interim dividend. Shares are trading 13.4 per cent lower at $4.09.

Fruit and vegetable giant Costa Group (ASX:CGC) has unveiled its full year results for 2021. Its international segment rose 30 per cent from the same time a year ago, contributing to a 16.2 per cent rise in net profit after tax to $64 million. The results highlighted a beat across all divisions with China yields and demand above expectations. Meanwhile, avocados weighed due to lockdowns and low retail prices. A final dividend of five cents per share is set to be paid in April. Shares are trading 7.3 per cent higher at $3.22.

G8 Education (ASX:GEM) posted its full year results for 2021 with a net profit after tax of $45.7 million, compared to a net loss of $189 million in 2020. The company’s revenue lifted 11 per cent to $878.8 million, while its operating EBIT fell to $80 million from $101 million in the prior year. Lower earnings reflected the impact of gap fee waivers during the pandemic and states heavily impacted by Covid-19, partially offset by government support. G8 declared a final dividend of 3 cents per share. Shares are trading 5.2 per cent higher at $1.27.

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