Australia… One Hour In… ASX200 down 31

By Scott Phillips | More Articles by Scott Phillips

ASX200 down 31 points (0.4%) to 7598.


So many results so I will keep it brief.   Let me know if you want more details on any company………..


  • A2Milk (+9.5%); press speculation that Nestle is having a close look at A2M.
  • Bendigo Bank (-8.8%); FY profit +172% to $524m vs $192m yoy.   Will acquire Melbourne fintech co Ferocia for $116m as part of its digital strategy.
  • BHP (+1.4%) / Woodside (-1.3%); BHP said there has been talks with Woodside about selling its petroleum division ($20bn+ ?) but no agreement has been reached.
  • Beach Petroleum (-7.8%); FY profit fell 37% to $316m due to a $117m writedown at its mine in Cooper Basin.
  • BlueScope Steel (+1.2%); Cracking result. FY profit $1.19bn vs $96.5m yoy.  Dic 25c plus a Special Div of 19c.  Announced a $500m buy back.
  • (+0.2%); FY up 11% to $152.8m vs $138m yoy but warned of ongoing impact of C19.  Div cut to 22.5c from 25c.
  • Commonwealth Bank (-1.2%);  ex div 200c tomorrow.
  • GPT (+3.6%); FY profit $760m vs $520m loss yoy due to positive valuations in its office and retail but was cautious on its outlook due to ongoing lockdowns.
  • GWA Group (+8.7%);  FY profit -20%.
  • Imdex (+11%); FY profit +46%.   Special Dividend.
  • JB Hifi (-0.3%); FY profit +67% to $506m and declares a div of $1.07, +52%.    Didn’t provide guidance due to covid uncertainty.
  • Lend Lease (-5.5%); FY profit $22m.  Said it expects FY22 to be a challenging year.
  • Redhill Education (-4%); iCollege has extended its takeover until Sept 20,
  • Seven West Media (-4.8%); FY profit more than trebled to $125m vs $37m yoy as advertising revenues stabalised. Positive momentum continuing into FY22.
  • Steadfast (TH); to raise $200m to acquire Insurance broker Coverforce for $411.5m.
  • Sydney Airport (-0.4%); has rejected a sweetened $8.45 takeover bid form IFM, saying it undervalues the co.
  • Telix Pharma (+4.6%); press saying Telix is on the cusp of its first US FDA approval.

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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