Month: April 2020
Coles (COL) –4.14%: out yesterday morning with a very strong sales update. Supermarkets experienced like for like sales growth of +13.1% on 12 months ago, with not only a strong (and expected) COVID-19-driven ‘pantrydemic’ episode but also a strong January and February by the look. They also said price inflation was +2.6% vs. +0.9% this […]
Lendlease (LLC) +8.8%: resumed trading today after successfully getting a $950m capital raise away. At $9.80 a share, those lucky enough to land some are already 18.5% ahead with new shares offered at a 9% discount to the last price. A share purchase plan is now underway in an effort to take the total raised […]
Wesfarmers (WES) +0.29%: Provided a trading update this morning which showed sales at Bunning’s up +5% for 3Q20, while Officeworks was up by 8%. Bunning’s is the key driver for WES accounting for more than 50% of their earnings and clearly the sales momentum has continued through this period of disruption. Kmart and Target sales growth […]
NAB: the first bank to report their half year for the season – they brought forward their result to get the jump on the other banks. The result itself was largely inline – net interest income up 2% despite a small decline in net interest margin. Expenses offset the increase in net interest income by […]
Really bullish, there's more to go in the reflation rally
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