Bega Cheese has made its largest-ever acquisition with a $534 million to buy Kirin brewer’s Lion’s Dairy and Drinks business in Australia. The deal tops the $460 million Bega paid to buy Vegemite, Peanut Butter, and other brands from Kraft in January 2017.
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The loss might have been half-expected after an earlier warning, but investors still took fright at the $15 million loss warning in the trading update from poker machine maker Ainsworth Game Technology yesterday.
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A modest reaction on Thursday from investors to an equally cautious trading update from logistics platform WiseTech at yesterday’s annual meeting.
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Investors didn’t like the first quarter sales update from outdoor and adventure wear retailer, Kathmandu despite some big numbers. The shares lost more than 4% to end the day at $1.265, despite topline sales rising 72% in the first quarter (to the end of October) as the contribution from the Rip Curl acquisition really kicked in.
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The early months of 2020-21 have seen earnings for Harvey Norman continue their strength from the final quarters of 2019-20 as the ripples of the surge in consumer spending in the COVID-lockdowns continues.
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A small dip yesterday in the Fisher and Paykel Healthcare (FPH) share price, despite a solid interim result confirmed the company has had a nice ride on the back of the COVID-19 pandemic.
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Xero shares might dropped sharply yesterday in the wake of news of a massive new fundraising, but that measure was actually a major vote of confidence in the rapidly growing software giant.
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Brickworks says it has started its new financial year in a positive fashion with its core Australian building products (bricks and tiles) boosting earnings for the first quarter well ahead o the same period in 2019-20.
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No joy at Tuesday’s AGM for shareholders in Ramsay Health Care as demanded to know when they can expect the company to resume paying dividends.
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Enterprise software provider TechnologyOne has survived the pandemic, reporting a 4% rise in revenues for the year to September 30 to $299 million and an 8% rise in net profit to $62.9 million.
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Enthusiasm for Ampol has softened despite a positive update, as the market awaits a decision on the Lytton refinery amid a cloudy outlook for fuel margins
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Trading in Bega Cheese shares were suspended on Monday ahead of what is expected to be a massive capital raising to fund the purchase of dairy brands being sold by Japanese brewer, Kirin.
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Shares in ASX Ltd have slumped to their lowest level in seven months after ASIC started a probe of last Monday’s loss of all but 24 minutes of the day’s session and then problems with the price matching system the next day which resulted in some doubts about the prices shares were bought and sold at.
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Private healthcare company Healius has netted $483 million after completing the sale of its medical centres business to BGH Capital (which is bidding for Village Roadshow).
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Shares in Insurance Australia Group quite nicely withstood the shock of the news of an $750 million capital raising announcement yesterday as it revealed a massive $865 million bill for COVID-related claims from some of its business customers.
Read MoreAmpol shares jumped to an eight-month high yesterday after the oil group announced a $300 million off-market buyback on the completion of its retail convenience property sale.
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Finally, the Village Roadshow game, sorry bid/takeover battle, standoff (choose the one you think is applicable) continued yesterday when the company’s shares resumed trading on the ASX and a $3 a share offer from suitor BGH emerged.
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Accent Group is rolling out new stores with unrelenting enthusiasm while its new formats offer options for the longer term
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City Chic Collective has embarked on a number of initiatives, expected to boost sales as Australasia emerges from the peak of the retail shutdowns
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Presenter – Neale Joseph – MD & CEO – Australian Primary Hemp Limited is a vertically integrated business which produces, manufactures, and distributes a range of hemp products under the APH and Mt Elephant brands, to retail, wholesale, and white label customers in Australia. APH engages across the hemp value chain, encompassing hemp seed selection, farming, processing, packaging as well as distribution and sales of bulk and retail products.
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Presenter – Claude Solitario – Managing Director – Medibio is a health technology company pioneering the use of objective measures to aid in the early detection and screening of mental health conditions. We offer mental well-being solutions for businesses through our Corporate Health product and are developing products to serve the healthcare provider market.
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Presenter – Nick Pollock – Chief Commercial Officer – K2fly Ltd is an ASX listed technology company that targets asset-intensive industries. It supplies people, products and strategic alliances focussed on solving problems for clients. K2fly has strategic alliances with global technology companies such as: GE(USA), Esri (USA) and SAP (Germany). K2fly also re-sells market leading software which has been developed by industry leaders in the USA, Australia, Europe and the UK.
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Presenter – Stuart Manifold – Executive General Manager – iCollege.net is a training organisation that provides practical and comprehensive specialist education to students from all over the world. Launching in 2014 to help workers stay relevant in an ever-changing employment environment, the 100 per cent online education provider creates more engaging training experiences for people looking to get ahead.
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Explosives manufacturer Orica has chopped its final dividend in half after a 31% slide in full-year statutory net profit, thanks to the impact of COVID on mining activities across many countries such as Peru and Chile.
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ALS has invested in additional geochemistry capacity as the cycle for global mineral exploration ramps up again, providing an improved earnings outlook.
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Australian Agricultural Company (AAco), enjoyed a strong lift in its operating profit for the first half of the 2020-21 financial year thanks to better prices for meat sold.
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The general insurance sector has been dealt a major blow with a NSW Court of Appeal decision that, if not overturned in the High Court, will see a surge in losses caused by payouts to policyholders who made claims due to the impact of the pandemic under business interruption policies held with insurers.
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Shares in steelmaker, BlueScope leapt by more than 7% yesterday after a second earnings upgrade in a month. The update, released ahead of the company’s annual meeting, took investors by surprise coming so soon after the very positive lift in projected earnings in a month.
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Mark Diamond, CEO and Managing Director of Australian biotech company Antisense Therapeutics (ASX: ANP), discusses the firm’s latest goings-on with Share Cafe’s Tim McGowen.
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Insurance broker AUB Group is enjoying a favourable environment for commercial insurance premium rates, recently issuing a modest upgrade to guidance.
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Testing and inspection business ALS has chopped interim dividend by a quarter after its first-half result produced lower revenue and earnings, with more of the same to come.
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Aristocrat Leisure has almost doubled its statutory net profit to $1.4 billion thanks to the recognition of a $1.1 billion deferred tax asset, giving the wrong impression that the poker machine manufacturer’s coffers were overflowing despite the COVID-19 pandemic.
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Crown resorts shares are posed to plunge Thursday when trading resumes after the NSW gambling regulator blocked the company from opening its new $2.2 billion Sydney casino next month until a review of its licence is completed in February.
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Old favourites, bank shares returned to the fore on the ASX yesterday after the key regulator APRA revealed that its clamp-on dividends would be eased.
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The A2 Milk Company fell yesterday despite the company reaffirming earlier revenue guidance for the half-year to December and the June 30 full year.
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Kazia Therapeutics share price has been driven by strong buying in their US-listed ADRs with the company’s market capitalisation moving from $75m to $200m since the Corporate Connect Research report was released. Corporate Connect biotech analyst Marc Sinatra updates the market post the ASX announcement by Kazia of further Paxalisib data.
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Tim McGowen from Share Cafe speaks with Fabian Siegel, CEO, and Co-Founder of meal-kit delivery business Marley Spoon.
Read MoreThe battle for control of the perennially underperforming Village Roadshow continues. This time it’s a major investor in the market buying shares and trying to block private equity group BGH’s takeover of the theme park and cinema owner.
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Eclipx Group is an established leader in vehicle fleet leasing, fleet management, and diversified financial services in Australia and New Zealand. Share Cafe Managing Director Tim McGowen recently spoke with the company’s CEO Julian Russell.
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The summer ahead promises better crop returns for agribusiness Elders, which is integrating several acquisitions and expanding market share.
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