Reporting season winners and losers

As ever, reporting season has brought some big share price moves – we take a look at some of the biggest so far.

Table 1: Biggest winners
CompanyASX code1-month
return (%)
Toll HoldingsTOL51
Domino's PizzaDMP41
Mayne PharmaMYX37
APIAPI32
FlexigroupFXL32
Crown ResortsCWN32
NufarmNUF29
MyerMYR27
iPropertyIPP26
iSentiaISD26

It’s been a busy reporting season so far, with some big moves, plenty of stock reviews on Intelligent Investor and plenty more to come. To find the biggest winners and losers so far I’ve searched the ASX 300 for the largest stock moves over the past 30 days and then cut out all the resources stocks (sorry Gaurav, but otherwise there’s not much else). You can see the results in the two tables.

Perhaps the most notable thing is that the winners have gained a lot more than the losers, with iSentia limping into 10th place on the winners with a 26% gain – while that’s the loss experienced by biggest loser Kathmandu. More than anything this is a reflection of strong global markets, though, it doesn’t feel as though reporting season has been that great.

Top of the gainers is Toll Holdings – up 51% – but that has less to do with Wednesday’s half-year result and more to do with the bid from Japan Post.

Domino's serves up a treat

The 41% gain from Domino’s Pizza, however, was driven by its 44% profit leap and upgraded guidance, with the stock soaring 21% on the day of the result. Sadly we’ve been avoiding Domino's for a while now on account of its high valuation and we’ll continue to do so, with its price-earnings ratio nudging 50.

Table 2: Biggest Losers
CompanyStock code1-month
return (%)
KathmanduKMD-26
AcruxACR-16
iiNetIIN-15
GWAGWA-15
Prana BiotechPBT-14
Southern Cross MediaSXL-12
Ardent LeisureAAD-10
NewSatNWT-9
Prog. Maint. Serv.PRG-8
NavitasNVT-7

Flexigroup is another notable gainer, up 32% over the month – to $3.57 – including 15% on the day of its result. This follows a decline from $4 since September. Graham Witcomb warned Intelligent Investor members to avoid Flexigroup ahead of that fall, but it might be worth another look.

IProperty and iSentia are two others on our watch list, but were a little ahead of our price range before and sadly more so now. Still, if markets go through a rocky patch they might come into range.

Kathmandu hits the rocks

Kathmandu Holdings is the biggest of the losers, with a 26% loss, all of it on the day of its half-year sales results on 2 Feb. That follows a fall of 21% following a profit warning on 22 December. In all Kathmandu has fallen 65% since peaking at $3.97 in May last year. The company will have a chance to make up for a bad Christmas as its Easter and Winter sales traditionally account for over 60% of annual sales, and over 70% of last year's profit came in the second half. But Kathmandu is facing the full force of online competition and it would be brave to bet on a turnaround. Kathmandu has a July year end and will report its half-year result on 24 March.

Acrux is also notable among the losers, although its 16% fall to $1.33 is unrelated to a result as it hasn’t reported yet. The current price is in line with where Graham Witcomb suggested members Sell in September last year, to bag a 66% gain in three months after our initial Speculative Buy recommendation at 80 cents in June.

There’ll be plenty more big moves over the next couple of weeks – here’s to them, because without volatility there’d be no bargains for us to buy.

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