Market Update: Performance of Australian Equity Market on 13th February 2020
The equity market of Australia ended the session in green and benchmark index S&P/ASX200 witnessed a rise of 15 points, setting at 7103.2. All Ordinaries ended the session at 7204.6 with a surge of 19.3 points. S&P/ASX 200 Utilities (Sector) closed the trading session at 8,245.0 after advancing by 126 points. S&P/ASX 200 Health Care (Sector) registered an increase of 127.7 points and settled at 47,400.6.
During the session, several companies performed well, including Breville Group Limited (ASX: BRG), which inched up by 27.628% and closed at $25.500 per share. TPG Telecom Limited (ASX: TPM) surged by 11.491% and ended the session at a price of $8.150.
Let us now look at gainers and losers at NZX Main Board. Just Life Group Limited (NZX: JLG) ended the session at NZ$0.760 per share and experienced a rise of 15.15%. ArborGen Holdings Limited (NZX: ARB) stood at NZ$0.200, up by 5.82%. However, Synlait Milk Limited (NS) (NZX: SML) witnessed a decline of 17.97% and stood at NZ$6.800 per share.
We have written an article on OZ Minerals Limited (ASX: OZL) with some important information. To view, please click here.
Breville Group Limited Registers Double-Digit Revenue Growth
Breville Group Limited (ASX: BRG) recently released its operational and financial performance for the half-year ended 31st December 2019 (1H FY20).
During the period, the company experienced strong growth in revenue, continued successful geographic expansion, double-digit EBIT growth and a normal seasonal pattern to cashflow. The company reported revenue amounting to $552.0 million in 1H FY20 as compared to $440.4 million in the same period a year ago, reflecting a double-digit growth of 25.4%.
Moreover, global product segment experienced a rise of 24.3% in revenue, reaching $442.6 million.
The company witnessed decent growth across all regions and categories. Consequently, the Board declared an interim dividend amounting to 20.5 cents per share, which is franked at 60% with a record date of 26th February 2020. The dividend is scheduled for payment on 18th March 2020.
TPG Telecom Limited Receives Court Approval for Merger
TPG Telecom Limited (ASX: TPM), on 13th February 2020, through a release noted the judgement by the Federal Court of Australia in relation to proposed merger of TPG and Vodafone Hutchison Australia Pty Limited (VHA) via a Scheme of Arrangement. According to the judgement, this merger would not and is not likely to, substantially lessen the competition.
As per the key personnel of TPG Telecom Limited, the company looks forward to merge with Vodafone Hutchison Australia Pty Limited in order to create a new fully integrated telecommunications operator of Australia.