Australia… One Hour In… ASX200 down 59

By Scott Phillips | More Articles by Scott Phillips

ASX200 down 59 points (0.8%) to 7443.

 

 

  • ASX (+1.2%); FY profit $480.9m vs $498m profit yoy.   Said they are entering FY22 with solid operational momentum.
  • BHP (-5.6%) FMG (-4.2%)  RIO (-3.5%);  the pain continues……
  • Beacon Lighting (-0.2%); FY profit $37.7m, +69% yoy.
  • Data #3 (+8.4%); FY profit $25.4m, up 7.5%.    Div 15c +7.9%.   Strong balance sheet with no borrowings.
  • Evolution (+2.3%); FY profit +14% to $345m as a higher gold price offset a fall in gold output.
  • IPH Ltd (+2.8%); FY profit $53.6m, down 2.1% yoy.
  • IGO (-5.5%) / WSA (+12%) ; IGO has confirmed it is in talks with Western Areas on possible proposal.
  • Iress (+0.6%); 1H profit $40.9m vs $26.4m yoy.   Sees improved 2H.
  • Newcrest (+1.5%); FY profit $1.16bn, +80% yoy.   Balance sheet means they are well positioned for growth, looking for opportunities.
  • NRW Holdings (+15%); FY profit $54.3m, down 26% yoy.
  • Orora (-2.3%); FY profit $135.8m vs $238m profit yoy due to missed contribution of sold assets.  Saw progress in the turnaround of its US business.
  • Origin (-2.7%); FY net loss of $2.29bn vs $83m profit yoy.   As previously flagged, the co took a hefty impairment charge against its energy markets business and a deferred tax liability.
  • Over the Wire (-1.3%); FY profit $3.4m, down 32% yoy.
  • PointsBet (-0.5%); has been selected by the NFL as an approved Sportsbook Operator.
  • Perpetual (-0.8%); FY profit $74.9m, down 9% yoy.  Entering FY22 with positive momentum.
  • QBE (-1.4%); ex div 11c. Trading down 18c.
  • Redbubble (-1.3%); FY profit $31.2m vs $8.8m loss last year on the back of a 59% rise in revenue helped by sales of artist-designed Covid-19 masks.
  • South32 (-1.7%); FY loss $195m vs $65m loss yoy because of one time charges, but that underlying earnings more than doubled.  Special Div 2c.
  • Star Entertainment (+5.6%); FY profit $58m.  No div given the virus. Early FY22 trading impacted by you know what.
  • Senex Energy (+0.3%); FY profit $65.7m.
  • The Reject Shop (+2.9%); FY profit $8.3m.  No div.
  • Treasury Wines (); FY profit +2% to $250m.   Div 13c +62%.    FY22 outlook positive across key markets outside China.

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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