Australia…One Hour In…ASX down 22 points

By Scott Phillips | More Articles by Scott Phillips

ASX200 down 22 points (0.3%) to 6896.

 

  • Bapcor (-5.8%); 1H profit +50% yoy.  Slightly better than consensus.
  • Carsales.com (-4.4%); 1H profit fell 8.4% on the impact of Covid-19 lockdowns but it looks a little better than consensus.  Outlook unchanged.
  • Cedar Woods (-2.5%); 1H profit more than doubles.    Analyst presentation on as I write…..
  • Charter Hall (-4.3%); 1H profit down 45% yoy and missed expectations.    Upgraded guidance by 4%…..
  • Coles (-5.1%); 1H profit rose by 15% yoy , which was in line with cons, but they gave cautious outlook.
  • Corporate Travel (+0.4%); 1H loss of $36.4m due to C19.     No div and no guidance…..
  • Crown (-0.7%); now facing an Independent Inquiry in WA.
  • Domino’s Pizza (+3.8%); 1H profit +38% as we all order home delivery.  Result was well ahead of expectations and outlook was very upbeat.
  • EML Payments (+12%); 1H profit +30% yoy, reinstated guidance….
  • Evolution (-8%); 1H profit +55% as higher gold prices more than offset a drop in sales.   I have not seen any commentary as to why they are weak today.
  • Fletcher Building (+1.1%); 1H profit +47% yoy which was at the top end of guidance
  • Invocare (-2.5%); will recognise $26.5m in pre-tax items and guided to a FY loss of $7-12m.
  • Netwealth (-6%); 1H profit +35% yoy which was ahead of consensus.
  • Pro Medicus (-8%); 1H profit +12% yoy.
  • St Barbara (-4.3%); 1H profit -3% yoy.
  • Super Retail (-2.5%); 1H profit triples to $172m.
  • Tabcorp (+0.2%); 1H profit -7% yoy and said it will take appropriate time to consider proposals for the wagering business.
  • The Reject Shop (-0.2%); 1H profit +79% yoy but wont pay a dividend.
  • Treasury Wines (-1.1%); 1H profit fell 43% yoy due to C19 and China tariff issue.  Cant say when this will end but said it is well placed for recovery.
  • Vicinity Centres (-0.2%);  reported a half-year loss and said it couldn’t provide guidance but said conditions are improving in its shopping centres.
  • Webjet (+1%); 1H revenue down 90% yoy, we know why.   Good news was the monthly cash burn rate was decreasing quicker than expected.
  • Westpac (+5.4%); trading update.  Too many numbers to mention but it was a strong update with a continuation of positive sector updates.
  • Whitehaven (-4.4%); sank to a 1H loss of $94.5m vs profit $27m on pcp and said it wouldn’t pay a div after coal prices were knocked by C19 and a trade Aust/China trade dispute.

 

 

 

………and Happy Gilmore was released 25 years ago today.

About Scott Phillips

Scott has over 35 years experience in Australian equities, starting as a “chalkie” and trader on the Stock Exchange Trading Floor and spending the last 25 years advising and trading for International Institutions. He has been an Executive Director at JPMorgan and Nomura, a Governor of the Australian Stock Exchange and was recently awarded a Lifetime Achievment award by the Australian Stockbrokers Association.

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