The performance of Australian equity markets is sensitive to the global factors and to the performance of Australian economy. We would now have a look at how S&P/ASX200 has performed. On February 18, 2020, S&P/ASX200 ended the session in red as the index witnessed a fall of 0.2% or 11.4 points on an intraday basis to end at 7113.7. On the same day, All Ordinaries fell by 0.2% or 12.9 points to close the session at 7208.3.
Coming to the performance of stocks at NZX Main Board, Metro Performance Glass Limited (ASX: MPG) ended the session at NZ$0.270 per share, reflecting a rise of 8% on an intraday basis. Also, Burger Fuel Group Limited (ASX: BFG) rose 7.78% to close at NZ$0.485 per share.
We have written important information about Comet Resources Limited (ASX: CRL) and investors can have a look at the information by clicking here.
MND Released Results for Half-year Ended December 31, 2019
Monadelphous Group Ltd (ASX: MND) came forward and made an announcement that it has generated revenue amounting to $852 million for the 6 months ended 31st December 2019, reflecting a 2.6% increase on prior corresponding period (or pcp). Notably, net profit after tax amounted to $28.5 million. The company stated that the result reflects robust performance from the company’s Maintenance and Industrial Services division, that achieved a record half year revenue amounting to $584.5 million, reflecting an increase of 16% on prior corresponding period.
MND’s EBITDA stood at $59.1 million, and an EBITDA margin stood at 6.94%. The company’s net profit after tax for the period stood at $28.5 million, which reflects a fall of 7.4% on the prior corresponding period. The result was impacted by the lower revenue contribution from the construction work, as well as an increase in the company’s depreciation and financing charges due to the plant and equipment fleet renewal process over the recent years. At the end of the year, the company was having a cash balance of $163.3 million, a cash flow from operations was $38.6 million and the cash flow conversion rate stood at 78%.
At the end of trading session on February 18, 2020, the stock price of MND closed in green as there was an increase of 5.495% on an intraday basis to end the session at A$17.280 per share.
AMP Limited Closed In Green on February 18, 2020
AMP Limited (ASX: AMP) recently made an announcement that there has been changes to its Board of Directors. As per the release, Mike Wilkins AO has retired from the Board, while Michael Sammells was appointed as Non-Executive Director. The company has also released its investor report in which it has discussed strategic and business overview. According to the report, as at FY 2019, AMP wealth management managed AUM amounting to A$134.5 billion during the year to December 31, 2019, paid out A$2.4 billion in retirement payments, while AMP Bank helped approximately 110,000 clients with their banking needs as well as provided more than 5,500 new home loans.
On February 18, 2020, the stock AMP witnessed a rise of 5.291% to close the session at A$1.990 per share.
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