Stocks of the Hour: Wesfarmers, Integral Diagnostics & Mayne Pharma

Company News

by Lauren Evans

Wesfarmers (ASX:WES) are rewarding their shareholders with a 17.1 per cent bump to their full-year dividend, along with a surprise $2.3 billion proposed capital return at $2 per share. The owner of Bunnings, Kmart, Target and Officeworks had a stellar year recording a profit of $2.4 billion in FY21, up 16.2 per cent from the prior year. Shares in Wesfarmers (ASX:WES) are trading 2.8 per cent lower at $62.19.

Integral Diagnostics (ASX: IDX) reported revenue of $350.9 million in FY21, up 27.2 per cent from the prior year. Net profit after tax was also up 35.8 per cent. The diagnostics imaging provider plan to increase its focus on growth and digital technologies, but expect Covid-19 to continue to have an impact in FY22. Shares in Integral Diagnostics (ASX:IDX) are trading 14.9 per cent lower at $4.59.

Mayne Pharma (ASX:MYX) reported revenue of $400.8 million in FY21, down 12 per cent from the prior year. The pharmaceutical company also noted a net loss after tax of $208.4 million, compared to $92.8 million in the prior year. Results were impacted by Covid-19 and ongoing challenges in the US retail generic sector. Shares in Mayne Pharma (ASX:MYX) are trading 9.3 per cent lower at $0.27.

Click on the ASX code for the full story.

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.