Australia…One Hour In…ASX200 down 1 point

By Scott Phillips | More Articles by Scott Phillips

ASX200 down 1 point.


  • Adbri (+7.8%); FY profit doubled in 2020 versus pcp, when its bottom line was weighed by impairment charges, and that earnings had benefited from cost cutting and improving demand in WA.
  • Alumina (-2.2%); FY profit -31% on pcp.  DRP suspended.
  • APA (-1.7%); fell to a 1H loss as it absorbed a large writedown tied to the troublesome commissioning of the Orbost gas-processing plant, but raised its guidance for annual distributions.
  • Crown (-1.6%); now a Royal Commission into Crown Melbourne.
  • Estia Health (+4.4%); 1H revenue +2% on pcp but wont pay a dividend.
  • G8 Education (-4.2%); FY loss $187m vs profit $52m last year.   $237m impairment.  Still no dividend.  Analyst presentation on as I write…..
  • Jumbo Interactive (+2%); 1H profit -8.6% yoy.
  • Monadelphous (+3.7%); 1H profit +11% yoy.    Analyst presentation just starting………
  • Oil Search (+8.8%); made an annual loss but has restarted dividend payments.
  • Ramelius (+5.3%); 1H profit $81.3m vs $20.m last year.
  • Seek (-2.6%); upgraded FY21 guidance even as 1H profit fell 7.8%. In talks to sell $2.2BN Zhaopin stake.  Ex CBA CEO Ian Narev to take over.
  • SRG Global (+2.2%); 1H profit +1% on pcp andhas raised guidance.
  • Western Areas (-8.8%); 1H loss $12m and has lowered guidance.
  • Worley (+4.5%); said 1H profit fell 81% due to C-19 but said it expects 2H earnings to benefit from recent project wins and ongoing cost-cutting measures.

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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