Suncorp’s lending portfolio contracted -0.6% over the first quarter, resulting in a -0.1% decline on the prior corresponding quarter. UBS notes the larger housing book declined -0.6% reflecting increased competition and a subdued market backdrop.
Read MoreAllowing for a small reduction in profit as a result of the sale of Capital SMART and ACM Parts to AMA Group ((AMA)), Citi reduces estimates for earnings per share in FY20 by -1%.
Read MoreTwo deals from two financial groups yesterday have again confirmed the push to sell non-relevant assets continues in the wake of the Hayne royal commission.
Read MoreSuncorp shares hardly moved yesterday after the financial group named Steve Johnston as its next chief executive.
Read MoreFY19 results signal to UBS the company has solid leverage to commercial rate increases. However, volume losses across personal lines remain an issue. Results were in line with expectations.
Read MoreShares in Suncorp rose 4.9% yesterday after it announced plans to distribute the $506 million surplus from the Australian Life Insurance business to shareholders, plus a share consolidation.
Read MoreAs FY20 unfolds, falling global bond yields will produce headwinds for the general insurance sector while wealth managers could enjoy a short-term uplift to recurring revenue.
Read MoreMacquarie continues to envisage earnings headwinds for Suncorp and a risk to consensus estimates. The broker believes the company’s cash return targets are becoming increasingly unachievable. Some change to FY20 guidance is expected at the August result.
Read MoreSuncorp shares edged higher in yesterday’s generally stronger market (the ASX 200 was up 0.4%) after it released a short statement saying it had received notice of a class action being filed against it involving superannuation commissions paid to financial advisers.
Read MoreIn a surprise yesterday Suncorp CEO Michael Cameron stepped down after almost four years in charge of the Brisbane-based banking and insurance group.
Read MoreCredit Suisse expects the increased natural hazards allowance and reinsurance cover for FY20 will reduce the downside risk to earnings. This should be a benefit by way of a reduced discount to Insurance Australia Group ((IAG)).
Read MoreAmid flat loan growth in the March quarter, brokers ponder the prospect of Suncorp separating its banking business.
Read MoreMacquarie considers impairment levels in the March quarter are unsustainable. The broker continues to expect margin pressure and believes the company needs to lower its margin guidance range by -5-10 basis points in FY20.
Read MoreShareholders in Brisbane-based insurer and bank, Suncorp face a tough year as the company’s profits have been hit by the surge in natural disaster claims and the weak home lending and consumer finance markets.
Read MoreNot everything’s going right for the smaller banks, but the findings of the Hayne Royal Commission present a perfect opportunity to woo discontented Big Four customers. Should investors follow?
Read MoreSuncorp says it will return $600 million to its shareholders after completing the $725 million sale of its Australian life insurance unit to Japanese-owned TAL Dai-ichi Life.
Read MoreInsurer Suncorp has confirmed it is selling its troubled life insurance business as it reported a slightly lower profits, but handed out a special 8 cents a share dividend to shareholders.
Read MoreSuncorp shares took a pounding yesterday despite the financial services and insurance group lifting dividends by 7% and promising a high payout ratio as the company steps up investment.
Read MoreSuncorp is facing a multi-million dollar loss after its takeover of Tower Insurance was blocked by the NZ competition regulator, the Commerce Commission.
Read MoreSuncorp (SUN) is expected to shortly reveal a rival offer for troubled NZ insurer, Tower (TWR) with a value of more than $NZ220 milion.
Read MoreSuncorp (SUN) has joined the rush to ‘review’ and clean up its underperforming life insurance business as the sector continues to pressure insurers. Suncorp revealed that earnings from its life business halved in the six months to December in reporting a weak 1.3% rise in statutory half-yearly net profit.
Read MoreSuncorp (SUN) shares fell more than 3% yesterday after it revealed another tough half year from natural disasters.
Read MoreShareholders in Brisbane-based financial services group, Suncorp, face a smaller dividend after the company unveiled an 8.4% fall in net profit for the year to June 30.
Read MoreNow that was a well-timed retirement at Suncorp (SUN) which yesterday reported a slide in interim profit and cut its half year payout to shareholders as a result.
Read MoreSuncorp (SUN) shares fell more than 10% at one stage yesterday after the company joined QBE and Insurance Australia Group (IAG) in downgrading its December half year insurance profit guidance and performance data.
Read MoreSuncorp (SUN) can be its own worst enemy – yesterday’s news releases about the result spun the wrong points – the 100% payout wasn’t the big news, nor was the multitude of profits reported – it was that the company had withstood a pretty savage whack from natural disasters in 2014-15 and had lived to tell the tale.
Read MoreBrisbane-based bank and insurance group Suncorp (SUN), will pay out 100% of its 2014-15 profits, the group revealed in today’s profit statement and accounts.
Read MoreInvestors yesterday accepted the move of GPT CEO Michael Cameron to become CEO of Suncorp (SUN).
Read MoreBrisbane-based insurer and banking group Suncorp (SUN) has effectively cut its 2014-15 profit forecast after yesterday revealing a larger than expected cost from Cyclone Marcia’s sweep through central Queensland last month.
Read MoreSuncorp Group (SUN) shares jumped by close to 5% at one stage yesterday after the company confidently forecast a stronger 2014-15 and met investor hopes with a special payment, on top of a higher normal dividend payout.
Read MoreSuncorp (SUN), the Brisbane based financial services group, has become yet another company to separate bad news from a formal investor day presentation or annual meeting.
Read MoreQueensland based financial services company, Suncorp Group (SUN) reported a worse than expected 4.5% drop in half year profit to $548m.
Read MoreSuncorp (SUN) shareholders are to again receive a special dividend this year, despite a nasty problem appearing in the group’s life insurance business.
Read MoreBrisbane-based financial services group, Suncorp (SUN), is attempting to clean up its balance sheet and get rid it of its ‘non-core’ or bad bank loans – at a cost of close to half a billion dollars in losses to be reported in the 2012-13 full year results in August.
Read MoreBrisbane-based Suncorp (SUN) told an investors day briefing that it is now targeting what it calls "top line growth" of 7% to 9% over the next couple of years and wants to boost return on equity to 10% by 2015.
Read MoreSuncorp confirmed yesterday that its over-exposure to insurance is still hurting the company.
Read MoreAt least Suncorp Metway shares managed to hang onto some of their early gains yesterday from the released annual figures for the June 30 year that looked much sounder than those produced for 2009 and 2008.
Read MoreA look at the Suncorp-Metway share price graph will tell us that the financial group is going nowhere as investors wait to see evidence that the new CEO, Patrick Snowball, can boost returns from a mix of business that has already disappointed.
Read MoreSuncorp Metway baffled the market yesterday and paid for it with a bout of selling in an overall skittish market.
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DOWNLOAD RESEARCH REPORTSecures binding contract with Tier-1 OEMUS based anode active project gathers momentumMagnis Energy Technologies (MNS.ASX) – MNS is planning an anode active facility in the US and recently announced a binding, yet conditional, contract for the supply of anode active with Tesla. The contract is for a minimum 17.5kt/year with an option to purchase another 17.5t/year. Conditions precedent carry a tight development timeframe, with first production scheduled for February 2025. Site selection is underway and co-locating with an OEM on a brownfields site makes sense. Long lead items have been ordered and detailed engineering and design is expected to commence soon. |
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December Quarterly Report: Q2 FY2023Looking past the rain – there’s a rainbow.TerraCom released their operating results for the December quarter FY2023 with operating metrics being in line with our forecasts. Unseasonal rains in both Australia and South Africa contributed to operational and logistical issues across all mines, however guidance for annual production at Blair Athol is unaffected and highlights the quality of TerraCom’s skills in operational management. We continue to like the stable operating metrics around the company’s Australian operations and see potential for the South African operations to benefit from increased management focus given the rationalisation of operations following the closure of the Ubuntu mine. Corporate Connects overall financials remain unchanged as does our target price of $1.35 share. We maintain our forecast for a fully franked quarterly dividend of 7.5c/share to be paid in the March and June quarters of FY2023. |
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DOWNLOAD RESEARCH REPORTHigh performance synthetic anode & cathode materials Building a US based materials supply chainNOVONIX (ASX:NVX) – is scaling a synthetic anode materials plant in the US and piloting nickel rich cathode material in Canada. Why? China is dominant and growing – 100% of global natural anode and 68% of synthetic anode is refined in China. In short, China controls the global midstream battery chain by controlling 60% of chemical refining, 87% of anode manufacturing, 61% of cathode manufacturing and 73% of battery manufacturing. It is global battery supply and price domination at scale. |
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DOWNLOAD RESEARCH REPORTAntisense Therapeutics (ANP) Taking a Quick Approach to Long COVIDThis report looks at the results of a collaborative study Antisense undertook which looked at the largest protein expression database in Long COVID-19 patients who experienced neurologic symptoms well after the primary or acute SARS-CoV-2 infection was considered over (Groups 1 & 2, with 48 subjects Group 2 comprising a single patient from a different clinical site). The symptoms and others experienced by such patients result in a highly significant amount of illness, possibly more than all primary SARS-CoV-2 infections i.e COVID-19. |
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DOWNLOAD RESEARCH REPORT4Q reveals more focus on profit and cash flow• LBY’s 4Q FY22 quarterly activities update showed continued solid growth in top line metrics, albeit slowing, with GMV of NZ$203m (+26% on pcp) and income of NZ$12.1m (+23% on pcp).
• Net Transaction Margin (NTM) disappointed at -0.5%, due to further increase in credit losses from 4.0% to 4.9% of GMV. However, new fraud and credit risk management tools have seen losses recover materially with NTM back to 1.2% in March and LBY is confident of further recovery in coming months.
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DOWNLOAD RESEARCH REPORTSigns MOU with Ford Company – Kachi is now sold out!Lake Resources (LKE. ASX) – LKE has signed two non-binding MOU’s in the space of 10 days. Ford Company (Ford) has signed an MOU for ~25,000t/year and last week Hanwa, a Japanese commodity trader signed a MOU for up to 25,000t/year. Subject to execution, this is an amazing feat as Ford and Hanwa are prepared to enter into longer-term strategic partnerships with LKE. Commercial negotiations are still ongoing but are expected, especially if Ford & Hanwa inject new equity into LKE, to further de-risk the project financing & thus ensure LKE and Kachi are fully funded. |
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DOWNLOAD RESEARCH REPORTStrategic Vanadium-battery growth with Titanium & Iron earnings resiliencyTNG Ltd is an ASX-listed technology owner and developer of the world-class Mount Peake near-surface vanadiferous titanomagnetite deposit. To unlock value, TNG will concentrate ore from its central Northern Territory mine for processing through its patented TIVAN® process produce three premium quality revenue streams: hi-purity vanadium pentoxide (V2O5) for steel alloys and Vanadium Redox Flow batteries, a quality titanium pigment for paints and a premium steel input with >64%Fe iron ore fines. |
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Promising exploration and development update while SOP prices continue to riseTwo recent gravity surveys have considerably exceeded expectations and revealed potential for extensions to the existing MRE at Lake Throssell, plus a material growth opportunity at Lake Yeo. This reinforces the potential for a multi-decade, Tier-1 SOP production hub based around Lake Throssell. TMG is currently completing work towards the PFS due early 2023, including drilling to start in Q3 2022, evaporation trials and permitting activities. Results from these programs will support the PFS and any future resource upgrade. Benchmark SOP prices have risen to ~US$940/t due to recent geopolitical developments. The Oct 2021 Scoping Study assumed a SOP price of US$550/t and contained a sensitivity analysis showing every 10% increase in price drives a +$144m increase in the project NPV of $364m. The c.70% increase above the Scoping Study thus implies a project NPV of ~$1.4bn. |
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DOWNLOAD RESEARCH REPORTIncreasing our TargetDespite the lower realised oil and gas price, which fell by 5.4% and 19.7% respectively in August, Calima managed to show improvement in its key business metrics. We expect higher production in November due to the contribution by the new Thorsby wells which will be drilled in August/September which will see Calima meet its 2021 production guidance of 4,500 boe/d. |
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DOWNLOAD RESEARCH REPORTEmerging Financial Wealth Advisory GroupWT Financial Group Limited (WTL) is a growing diversified financial services company, founded in 2010 and listed on the Australian Stock Exchange (ASX) in 2015. Its advice and product offerings are delivered primarily through a group of independent financial advisers operating as authorised representatives of WTL under its Wealth Today Pty Ltd (Wealth Today) and Sentry Group Pty Ltd (Sentry Group) dealer group operations. It has around 275 advisers across more than 200 financial advice practices Australia-wide. It also operates a direct-to-consumer operation under its Spring Financial Group brand. |
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DOWNLOAD RESEARCH REPORTImmutep Taking the Fight to CancerIn May 2021, Corporate Connect analyst Marc Sinatra published a comprehensive research report on ASX-listed biotech Immutep Ltd (ASX: IMM). So impressed was he with IMM that Corporate Connect felt it imperative that a follow-up report be released placing a valuation on the company, because the market was not seeing the vast potential of eftilagimod alpha (efti). This follow-up report has been released today. Using comparables, after adding cash back to their EV estimate and dividing by the total number of issued shares, Corporate Connect now places the fair value of an Immutep share at $A2.20. |
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DOWNLOAD RESEARCH REPORTMarket leading lifelong learning platform technology company in Australia and SE AsiaPayGroup (PYG) delivers multi-country BPO services and cloud SaaS HCM solutions, assisting companies to manage employees in multiple, complex jurisdictions. The company has many growth opportunities, including new clients, new jurisdictions, new products, partner expansion, and new revenue sources. PYG’s scalable business model allows operating leverage and with savings from in-housing third party technology, support margin expansion. |
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DOWNLOAD RESEARCH REPORTMarket leading lifelong learning platform technology company in Australia and SE AsiaOpenLearning (OLL) is a higher education technology company that operates a scalable online learning platform through a software-as-a-service (SaaS) business model and provides a global marketplace of high quality courses for learners of all levels. Its primary customers are education providers based in Australia and South-East Asia (primarily Malaysia). OLL started operations in Australia in 2012 and expanded to Malaysia in 2015, Singapore in 2018, and recently also Indonesia. |
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