Author: Harry Watt
BKW +3.13%: the building products and investment company reported 1H numbers today which were stronger than expected while outlook comments appeared better than feared. Revenue was up 13% yoy, while Underlying profit added 24% to $410m.
NHC +8.57%: Rallied today after reporting 1H net profit of $668m vs. $330m this time last year while they announced an interim dividend of 30c fully franked plus a special dividend of 10c fully franked, putting it on a 7.5% yield for the half (15% annualised) plus franking.
HLS +8.27%: Healius jumped today after a takeover bid from competitor Australian Clinical labs was announced pre-market. The deal would see Healius shareholders receive 0.74 ACL shares for each HLS owned, which represents no premium to Friday’s close price, but Healius shareholders would end up with 68% of the combined group.
FY22 results for the ecommerce business were released to market this morning showing mixed numbers for FY22 and FY23.
OZL -3.80%: Confession session is underway for the miners and today saw another production downgrade leading to an increase in unit costs. So far, we have seen 6 names within the top 50 Australian miners downgrade based on production issues that have led to cost pressures, so this feels like a widespread thematic.
EVN -21.89%: the gold stock was smashed today after trying to hide a production downgrade into a more rosy medium-term outlook presentation. WA operations have been hit by COVID absenteeism, NSW operations hit by poor weather, the ramp-up in Canada has been slower than expected and more.
VCX +6.32%: the shopping centre owner popped today on the back of strong valuations and better guidance. The book value on their assets was increased by $245m ahead of the end of the financial year
SIQ -10.91%: A poor day for the novated leasing and salary packaging business, missing out on renewing the contract for one of their top 20 clients, the Department of Education & Training in Victoria.
While we thought 0.40% was the right level, it was perhaps our OCD that played into this (would have left rates at 0.75%), however Governor Lowe did what only 10% of economists thought he would and took a more aggressive stance
AD8 +0.57%: a positive sales update from the Audio-Visual hardware & software company failed to really ignite the share price. Audinate now expects revenue of over $US30m in FY22 after positive momentum in March & April continued throughout May.
