Author: Harry Watt
Northern Star (NST ) +10.64%, Saracen (SAR) +9.58% when there’s smoke rang true again today with rumours coming true – JV partners in the Super Pit mine are now looking to merge as Saracen folds into Northern Star. The deal would see Saracen shareholders receive 0.3763 NST share for each SAR share, along with a […]
Bank of Queensland (BOQ) -7.24% Announced items to impact the full year results today, taking on provisions of $369m for the second half alone. Of that, $123m was set aside as a result of COVID impacts vs just $10m at the first half result earlier in the year. The substantial increase takes into account updated […]
A2 Milk (A2M) -11.42% Shares hit today as the company talked down sales for the first half on the back of weaker daigou demand. Daigou sales are “a significant portion of infant formula sale in Australia & New Zealand” where local buyers export stock to China. While it hard to put a figure on daigou […]
Westpac (WBC) -0.12% Traded largely in line with the rest of its big 4 peers today – a good result on the day it was hit for the largest fine in corporate history. Westpac settled its dealings with AUSTRAC today for a whopping $1.3b, admitting to 23 million breaches of the money laundering and terrorism […]
Harvey Norman (HVN) +2.07% Consumer names were higher today, though Harvey Norman paced the pack on continued growth in sales numbers. For the period 1 July to 17 September comparable sales were up over 30% across the network, with the bulk of the work done by a 34.5% lift in Australian stores. While there was little […]
Tyro Payments (TYR) +1.54% We haven’t covered this in a little while however circling back to Tyro’s weekly trading update they started during COVID which has been very useful in tracking card spend particularly in tourism and hospitality businesses. Overall the data looks to have peaked and offline looks really tough. Victoria lockdowns have contributed to […]
Macquarie (MQG) -4.68% Hit today on a profit downgrade with the investment bank and infrastructure manager saying first-half profit will be down 35% amid the “uncertain” speed of recovery from the coronavirus pandemic. The market was already pricing in a 25% decline for the half however todays update is another leg down on that expectation, […]
SkyCity Entertainment (SKC) +7.36% One of the reporting season stragglers, SkyCity operate 3 casinos in NZ as well as one in Adelaide. Profit took a hit given its exposure to NZ where lockdowns were far more stringent than ours, falling nearly 60% in the year to $NZ66.3m, though this was 7.5% better than analysts had […]
Temple & Webster (TPW) +18.03% Another phenomenal result from TPW both in terms of their FY20 numbers, but also in terms of their trading update for the first part of FY21. Firstly for FY20, revenue was in line with expectations at $176m however net profit was a strong beat coming in at $13.9m v $8.35m […]
IOOF (IFL) halt Didn’t trade today as it looks to raise around $1b to fund the acquisition of MLC – i.e. a very big bite at the cherry with the total cost around $1.44b for the advice and platform arm of NAB. The raise will be completed through an entitlement offer of 1 for 2.09 […]
