Month: August 2021
JHX +3.11%: Rallied today on the back of their Q1 update which was solid plus they increased FY22 guidance. They now see net operating profit of $550-$590m up from $520-$570m.
MP1 +3.11%: The Network as a Service (NaaS) provider had pre-reported top-line metrics however the details of the result was positive. Revenue of $78m was largely inline with consensus expectations while an after tax loss of $31.3m was a touch better than expected.
CGF +0.78%: Released FY21 earnings this morning that were smack on expectations, both in terms of earnings for FY21 and guidance for FY22. Normalised pre-tax profit of $396m for FY21 will jump by ~15% over the coming 12 months if they meet the midpoint of stated guidance (pre-tax profit $430m-$480m)
SUN +7.84%: FY21 was a strong one for Suncorp with all segments bouncing back resulting in a $1,033m profit, a 6% beat to consensus. General insurance saw strong premium growth of 5.5% in Australia and over 9% for the NZ business underpinning the result.
TCL – 2.17%: The toll road operator recorded a large statutory profit due to the sale of an asset, however on an underlying basis they lost another $287m which was up on the loss of $153m in FY20.
CLW +2.5%: A solid result today from a very solid real-estate investment trust. Operating earnings of $159m were inline with expectations as was the distribution of 29.2c.
APT +18.77% : The major news of the day / week / month, potentially year is US based Square taking out Afterpay (APT) in a deal valued at ~$39bn or $126.21 per share. representing a ~30% premium to the last close and ~21.9% to the 10 day VWAP. This deal is all ‘scrip’ meaning it’s all shares in the combined entity, it appears friendly and likely to go ahead with APT shareholders owning a then significant amount of SQ stock.
Join Portfolio Manager James Gerrish & Analyst James Bisinella as they take a deep dive into investment platform provider HUB24 (HUB)
