Market Update: How Australian market performed on 12th February 2020?
The equity market of Australia ended the session in green. S&P/ASX200 settled at 7088.2 with a rise of 32.9 points or 0.5%. At the close of same trading day, All Ordinaries witnessed a rise of 33.9 points and closed at 7185.3. Let us now look at the performance of some sectors, which closed in green. S&P/ASX 200 Health Care (Sector) stood at 47,272.9, reflecting a rise of 0.4%. S&P/ASX 200 Consumer Discretionary (Sector) ended the session with an increase of 0.47% and stood at 2,860.8.
Some companies on ASX performed well during the session and provided a day full of wealth to the market participants. IDP Education Limited (ASX: IEL) experienced a rise of 28.417% and settled at A$21.420 per share. Tassal Group Limited (ASX: TGR) indicated a rise of 11.893% on an intraday basis and ended at $4.610 per share.
Moving towards the NZX Main Board, Pacific Edge Limited (NZX: PEB) was a top gainer, which closed the session at NZ$0.136 per share and inched up to 13.33%. Just Life Group Limited (NZX: JLG) rose by 8.20% and closed at NZ$0.660. Coming to the losers, Blackwell Global Holdings (NZX: BGI) showcased the drop of 14.29% and stood at NZ$0.006.
IDP reported a robust rise of 49% IN EBIT in 1H FY20
IDP Education Limited (ASX: IEL) has recently declared the results for the first half of the financial year 2020 and stated that total revenue for the period stood at $379 million with a rise of 25% as compared to the 1H FY19. EBIT for the period stood at $86.9 million, reflecting a rise of 49% against the prior corresponding period. It was mentioned that strong growth in revenue throughout all business lines along with margin improvement have helped the company in increasing NPATA by 42% over 1H FY19.
During the period, the company opened 37 new computer-delivered IELTS centres, bringing the total number to 167 centres throughout the IDP network. The Board of the company declared an interim dividend amounting to 16.5 cents per share, which is franked at 17%. As per the key personnel of the company, these positive results bolster the commitment of the company towards its digital strategy and vision.
Tassal Group Limited ended in green with a rise of 11.893% on ASX.
Tassal Group Limited (ASX: TGR) recently reported its results for the 1H FY20 and reported revenue amounting to $274.49 million as compared to $326 million of 1H FY19. With respect to Salmon, the strategic focus for 1H FY20 revolved around increasing operating EBITDA $/kg through the period of investment in the growth of biomass and size. On the outlook front, the company is well placed for growth in earnings and returns in FY20 and beyond via capitalising on the strong growth in salmon and prawn biomass through higher sales and cost efficiencies in 2H FY20 and FY21.