This ASX All Ords stock rose on the back of a 230% increase in earnings
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The Om Holdings Limited (ASX: OMH) The stock price rose today amid a huge surge in earnings.
The manganese and silicon smelter’s stock price rose 7.46% to 72 cents. On the other hand, the
Index of all ordinaries (ASX: XAO) fell 2.07% today.
Let’s take a look at what this ASX All Ords stock has yielded for the market.
Om Holdings net profit up
Highlights of Om Holdings’ half-year results include:
What else did this ASX All Ords share?
Om Holdings achieved a gross profit margin of 27.7% in the first half of 2022, compared to 19% in H121.
The company’s revenue and gross profit margins were higher despite fewer products sold compared to the H121.
Strong financial results were supported by higher prices for manganese ores, ferrosilicon and silicon-manganese alloys.
The company also reduced its debt-to-equity ratio from 0.67 times as of December 31 last year to 0.54 as of June 30.
The company’s OM Sarawak smelter is expected to produce between 340,000 and 360,000 tonnes of ferroalloys by the end of the year.
Commenting on the results, CEO and Executive Chairman Low Ngee Tong said:
I would like to congratulate and thank all staff, especially our team on the ground in Sarawak, for delivering an outstanding set of results for the first 6 months of 2022.
Despite the pandemic-related labor challenges and fluid working environment during a year of major furnace conversions and maintenance, we delivered our products operationally and the Group was able to post very solid financial results.
Om Holdings Share Price Overview
Om Holdings’ share price has jumped more than 15% in the past 12 months, but is down 20% since the start of the year.
For perspective, the All Ordinaries index has fallen 7.3% over the past year and 7.53% since the start of the year.
Om Holdings has a market capitalization of approximately $531.8 million based on the current share price.