Last day leap year results deluge on February 29, 2024

First 28 entries captured before diverted to the spreadsheet approach for the first and only time.


8.00am: Capitol Health: $2.36m profit
8.01am: Quest Comms: 100k loss
8.02am: Terracom $31.7m profit
8.02am: Strategic Element: $1.47m loss
8.04am: One Click: $2.6m loss
8.04am: Orexplore: $8.2m loss
8.04am: Singular Health: $1.14m loss
8.05am: Cash Converters: $9.8m profit
8.05am: The Market Ltd: $3.1m loss
8.05am: Peel Mining: 807k loss
8.06am: Westgold Resources: $43.8m loss
8.06am: Adveritas: $6.4m loss
8.06am: Fat Prophets: $1.4m profit
8.07am: Cape Range: 564k loss
8.07am: Montaka Fund: $10m profit
8.07am: Pengana Capital: 873k loss
8.08am: Tasfoods: $15.5m profit
8.08am: ecargo: $HK5.46m profit
8.09am: Med Advisor: $6.87m profit
8.09am: Pepper Money: $108.7m
8.09am: Southern Cross Media: $4.46m
8.10am: Qualitas Fund: $27.7m profit
8.10am: Paincheck: $3.3m loss
8.10am: AFG: $14.5m profit
8.11am: Tissue Repair: $2.26m loss
8.12am: Tigers Realm Coal: $46.1m profit
8.13am: Generation Development: $4.4m profit
8.14am: Cue Energy: $9.1m profit

Tracking the last day deluge

Unlike previous years, I didn't manage to find a spare 15 hours to read through and write down every single company result released on the last day of the reporting season, way back on February 29.

However, a friend did help me put together this useful spreadsheet which lists all 251 last day earnings offenders and includes links to the actual results announcement. We've also included the market capitalisation of these companies so you can see that there is a preponderance of small caps.

But, having a small market capitalisation, doesn't mean you haven't notched up significant accumulated losses over the years, something many last day laggards are hoping people won't notice.

Here are a couple of examples that we did notice:

Site Group International: was the last to report at 8.22pm and whilst the half year loss was only $815,000 and its market cap is only $7.8 million, there has been $89 million of accumulated losses as was noted on last week's Monday Café. As one of those private training providers it can point to COVID which smashed the sector.

Marley Spoon: waited until 7.27pm to reveal an annual loss of 44.3m euros on revenues of 328m euros from delivering pre-packaged meals. This lifted accumulated losses to 356m euros. No wonder it only has a market cap of $A3.76m. Oh dear.

In terms of the flow of announcements on February 29, 95 were lodged before the 10am opening of trading, only 66 came through during the 6 hours of trading until 4pm and there were a further 86 between 4pm and Site's 8.22pm release.

Based on sampling, I reckon close to 200 of the 251 will have been losses, but if anyone actually fancies totalling it all up, this handy spreadsheet is all yours.

Hopefully, you're not invested in many of these companies.

There were a few big caps that also waited until the last day, such as Harvey Norman, Platinum Asset Management, Imugene, Star Entertainment, Atlas Arteria, Emerald Resources, Karoon Energy and Nickel Industries.

They would all be well advised to get themselves better organised for the August reporting season so they are not associated with cynical small loss makers which wait as long as possible to reveal their dirty laundry, hoping that no one will notice as the Hills Hoists of the ASX groan under the weight of red-ink laced financial reports.

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