Live ASX News Today
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19th Aug 07:36 PM AEST
Data#3 (ASX:DTL) delivers a record full year result
Australia-based IT services provider Data#3 Limited (ASX:DTL) shared its results for the financial year ended 30 June 2021.
Key highlights:
- The Company stated Revenue is up 20.3% to AU$1.96 billion, with public cloud up 36.2 % to AU$791.6 million.
- NPBT is up 8.4% to AU$36.9 million.
- NPAT is up 7.5% to AU$25.4 million.
- Basic EPS is up 7.5% to 16.51 cents per share.
- Total fully franked dividend up is7.9% to 15.0 cents per share.
- The Company also reported a strong balance sheet with no borrowings.
The stock DTL ended the session at AU$5.480 per share, up 12.295%.
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19th Aug 05:56 PM AEST
Netwealth (ASX:NWL) delivers NPAT growth of 23.9%
Financial services firm Netwealth Group Limited (ASX:NWL) closed 8.005% higher at AU$15.380 per share today. The share rise can be attributed to the FY2021 financial result that the Company announced.
The Net profit after tax (NPAT) of the provider of investment management services has increased by 23.9% to AU$54.1 million for the year. The Company's total income has also grown by 16.9% to AU$144.9 million in the current financial year.
In view of the Company's good performance in FY21, the Group has declared a 9.5 cent fully franked final dividend. This has bought the total dividend for FY21 to 18.56 cents.
The announcement said that Netwealth is recognised as the fastest growing platform, with its market share of 4.6%, up 1.0%. Besides, for FY21, the Group has recorded a high EBITDA margin of 54.8%.
Furthermore, in the latest Plan for Life platform market update for March 2021, the Company recorded the most significant quarterly FUA net inflows of AU$2.3 billion, the highest net industry fund flows for the ninth consecutive quarter.
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19th Aug 05:38 PM AEST
Airtasker (ASX:ART) records 38% revenue growth in the FY21
Australia’s leading online marketplace Airtasker Limited (ASX:ART) shared the FY21 results today, which stated robust growth in revenue growth of about 38%.
Key highlights of the FY 21 result:
- The FY21 results suggest revenue of $26.6 million which has exceeded the prospectus forecast of $24.5 million and up 38% year-on-year.
- Gross Marketplace Volume (GMV) of AU$153.1 million exceeded prospectus forecast of $143.7 million and up 35% year-on-year.
- UK marketplace accelerated with GMV up 232% year-on-year and 93% quarter-on-quarter.
- Underlying pro forma EBITDA of AU$0.0 million compared with AU$(4.0 million) in FY20.
- Positive operating cash flow of AU$5.5 million surpassed prospectus forecast of AU$0.1 million.
- Cash on hand of AU$45.9 million is ready to be invested into accelerating international expansion.
ART stock closed 1% up at AU$1.010 per share on the ASX today.
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19th Aug 04:56 PM AEST
ASX ends lower for fourth session; what fueled sell-off in stock market?
Australian shares ended in red for the fourth consecutive session, albeit paring more than half of early losses, crossing below its 20-day moving average. The market sentiment was dented by weak global cues and sharp sell-off in material and energy stocks, owing to fall in commodity price. The concerns over record rise in COVID-19 cases and possible tapering in US economic stimulus also kept investors sidelined.
The ASX200 dropped 37.50 points or 0.50% to close at 7,464.60. Earlier today, the index opened lower and declined nearly 1% to hit an intraday low of 7,429.
The equity market witnessed mixed trading as six of 11 sectoral indices ended higher. The material sector declined the most and settled 3.3% lower. It was followed by energy, which dropped 2.3% Among others, A-REIT and utilities closed lower with over 1% loss.
Meanwhile, consumer discretionary sector emerged as biggest gainer, rising 1.54%. Some of the other best performing sectors were health care, industrial, telecom and information technology.
Investors also reacted to Australia’s jobless data, which dropped surprisingly to a 12-year low in July. The drop in unemployment rate was largely due to people falling out of the labour force as lockdowns in NSW and Victoria limited their ability to look for work.
The date released by Australian Bureau of Statistics (ABS) showed the jobless rate fell to 4.6% in July, but analysts warned that the actual picture of job market would become clearer from August and September data. Economists believe that the economy will contract sharply in September quarter.
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19th Aug 04:55 PM AEST
Resolute (ASX:RSG) expects to recognise non-cash impairment in 2021 half-yearly results
Resolute Mining Limited (ASX:RSG) shared today that it anticipates to recognise a non-cash impairment charge in the range of US$165 – US$175 million in the Company’s 2021 half-year results. The results are scheduled to be released on Friday, 27 August 2021.
The expected impairment charge is a result of:
- The Company has assumed gold prices to come down, reflecting a 5-10% reduction in the short to medium term compared to the assessment carried out in December 2020.
- The Company held current cost, processing and recovery assumptions constant, without including expected improvements over the life of mine, in line with applicable accounting standards.
- An increase in the risk-free rate underpinned the applicable weighted average cost of capital used in the impairment assessment.
RSG closed 2.106% down at AU$0.465 per share today.
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19th Aug 04:07 PM AEST
Humm Group (ASX:HUM) FY21 profit rises 121%, shares gain on ASX
Humm Group Limited (ASX:HUM) shared its full year 2021 results today.
Key highlights:
- Humm has shared in its FY21 report that Cash Net Profit After Tax (NPAT) is AU$68.4 million, up 121.1% on pcp.
- The statutory NPAT stands at AU$60.1 million, up 160.2% on pcp.
- HUM’s active customer numbers grew 19.7% on the prior comparative period to 2.7 million.
- Buy Now Pay Later (BNPL) volume in FY21 was AU$1,034.9 million, up 31.3% on pcp
- The total number of app downloads in FY21 was 1.2 million, up 75.8% on pcp.
- The Commercial and Leasing volume for FY21 was AU$540.3 million, up 55.6% on pcp.
The stock closed 4.255% higher at AU$0.980 per share today.
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19th Aug 02:18 PM AEST
Why Western Areas (ASX:WSA) shares gaining attention today?
The share price of Western Areas Ltd (ASX:WSA) gained 12.298% to trade at AU$2.785 per share at 1:50 PM AEST today as the Company responded on media reports in relation to a potential transaction involving Western Areas.
Western Areas stated that it is in preliminary discussions with IGO Limited in relation to a change of control proposal and the basis upon which engagement and due diligence between the parties could proceed.
The Company mentioned that this is quite an initial stage of discussions and there is no declaration regarding any transaction or the terms and conditions of any transaction.
Western Areas also said that it will keep the market updated. -
19th Aug 02:04 PM AEST
Over The Wire (ASX:OTW) earnings up 35%
Over the Wire Holdings Limited (ASX:OTW), the telecommunications, cloud and IT solutions provider, shared a robust rise in recurring revenues. The Company has also shared that it has begun to experience the full benefit of recent investments across its integrated solution platform.
Key highlights:
- The Company has achieved growth of recurring revenue by 38% to AU$103.2 million and delivered strong positive operating cashflows.
- The EBITDA rose from AU$17.4 million to AU$23.5 million, rising 35%.
- The Company has successfully achieved a customer retention rate of 97.8%.
- OTW has completed the acquisitions of Zintel, Fonebox and Digital Sense.
- OTW has also become a Tier 1 voice provider following the completion of a multi-year Carrier Interconnect project.
- Moreover, the commencement of the investment program is supposed to significantly upgrade the Company’s core network (SuperCore).
- Also, the board has declared a final dividend of 2.225 cents per share fully franked, taking the full-year payout to 4.0 cents per share.
The OTW stock was spotted trading at AU$4.490 per share at 1:50 PM on the ASX.
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19th Aug 01:25 PM AEST
Fatfish (ASX:FFG) surges 11% on funding for BPNL businesses in Southeast Asia
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Tech venture investment firm Fatfish Group Limited (ASX:FFG) has raised AU$8 million of fresh funding from US-based fund Arena Investors L.P. (Arena Investors). FFG will use the fund to boost its BNPL and fintech businesses, including rolling out its retail Buy-NowPay-Later (BNPL) business in Southeast Asia.
Funding will be via convertible notes that convert at a fixed price of seven cents per share, an 18% premium to the prior day closing price. FFG has an existing strategic long term funding deal with Arena Investors. With the New Funding deal, Arena Investors will provide an immediate AU$8 million in cash consideration to FFG. The Convertible Notes have a tenure of 12 months and will carry a coupon rate of 1% per annum. These will be convertible into ordinary shares of FFG at the request of Arena Investors.
FFG is actively building BNPL and digital lending services in Southeast Asia. Some of its businesses include Smartfunding, an online lending platform; Pay Direct, an online payment gateway etc. Current funding will further expand FFG’s business in the region.
FFG shares were trading 13.559% up on ASX at AU$0.067 as of 19 August 2021, 1:15 PM AEST.
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19th Aug 01:11 PM AEST
National unemployment rate falls by 0.3 percentage points: ABS
The Australian Bureau of Statistics shared the latest employment details on 19 August 2021 as per which the seasonally adjusted employment in Australia rose by 2,000 people in June and July. Also, the hours worked declined by 0.2%.
The ABS stated that the changes happened in the labour market in June and July impacted the national figures hugely. In NSW, the whole labour force reduced by around 64,000 people. Also, hours worked in NSW fell by 7%.
Key takeaways from ABS release:
- The national participation rate declined by 0.2 percentage points to 66% and the unemployment rate fell by 0.3 percentage points.
- The underemployment rate rose for the second straight month, up 0.4 percentage points to 8.3% in July.
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19th Aug 12:26 PM AEST
ASX trims losses to 0.5%; BHP, Mineral Resources, IGO hammered
Australian shares continued to trade lower by afternoon, albeit erasing half of early losses, led by sharp sell-off in blue-chip mining stocks such as BHP, Rio Tinto, Fortescue, and Mineral Resources. The weak cues from Wall Street and fall in commodity prices also weighed on market sentiment, while record spike in COVID-19 cases also left investors jittery. In the last 24 hours, NSW reported 681 new local inflections, a new daily record for the state.
The ASX 200 was currently trading 35.40 points or 0.47% lower at 7,466.70 by lunch. Extending losses for the fourth straight session, the index opened lower today and declined as much as 1% to hit a low of 7,429.
On the sectoral front, eight of the eleven sectors were trading in red. The material sector was the worst performer with over 3% loss, owing to fall in iron ore price. Iron ore slumped 4.6% overnight to US$153.39 a tonne. In the material space, index heavyweight BHP Group (ASX: BHP) was the worst performer, followed by Rio Tinto Group (ASX: RIO) and Fortescue Metals Group (ASX:FMG).
Material sector was followed by energy, which dropped 1.8% due to slip in crude oil prices. The oil prices have also softened with Brent crude dropping 2.4% to US$67.41 per barrel, while US oil fell 3.1% to US$64.52 a barrel.
Among others, A-REIT, consumer staples, utilities and telecom witnessed selling pressure.
Bucking the trend, consumer discretionary sector emerged as the best performer with 0.8% gain. Information technology and health care sector also saw spurt in buying activity.
Civil and mining contractor NRW Holdings (ASX:NWH) topped the gainer’s chart by rising nearly 14%. Some of the other notable gainers were telecom service provider Chorus (ASX: CNU), financial services firm Netwealth Group Ltd (ASX: NWL), gaming and entertainment firm Star Entertainment Group (ASX:SGR) and travel firm Corporate Travel Management (ASX:CTD).
On the flip side, tech firm Codan (ASX: CDA) emerged as top loser, falling 8.7%. Some of the other top laggards were mining firm Mineral Resources (ASX:MIN), metal and mining group IGO (ASX: IGO), iron ore miner BHP Group (ASX:BHP) and royalty company Deterra Royalties (ASX:DRR).
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19th Aug 12:25 PM AEST
Tin skyrockets on stocks shortage and surging demand
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Tin prices skyrocketed to record levels amid surging demand of the metal in electronic gadgets and portable devices and supply disruptions.
Three-month tin on the London Metal Exchange (LME) last week touched US$35,955 per tonne, surpassing the highest level last seen in 2011.
Currently tin is trading around US$35,400 per tonne, relatively 74.26% up year-till-date.
Tin is a silver malleable metal, extensively used in soldering and for coating other metals to stop corrosion.
Myanmar, Peru, Thailand, Bolivia, Malaysia, China, and Indonesia are among the leading producers of tin.
The demand for tin surged after the lockdowns last year that recorded a boom in the sales of digital and smart devices.
At the same time, supply disruptions in Asia and Africa due to the impacts of coronavirus created additional supply deficit in the market.
Supply has also suffered due to power rationing and drought conditions in China's Yunnan province.
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19th Aug 12:16 PM AEST
Crude oil slips on surging COVID-19 cases
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Crude oil prices inched lower on the sixth consecutive day on Wednesday due to rising coronavirus cases across the globe and investors’ concern over fuel demand outlook.
- October delivery Brent Crude oil futures traded 0.12% up at US$67.36 per barrel, whereas October delivery WTI crude oil futures traded 1.35% down at US$64.33 per barrel as of 19 August 2021 at 10:30 AM AEST.
- Both the oil benchmarks were under pressure due to the rise in the Delta variant of coronavirus. Several countries have re-imposed lockdowns and travel restrictions.
- As per the U.S. Energy Department data, US crude oil inventories tumbled 3.2 million barrels last week to land at 435.5 million barrels.
- On the flip side, gasoline demand rises modestly by 9.5Mbpd, roughly 1% less than the levels last seen in 2019.
- Adding to that, the US crude oil production continued its steady run with 11.4Mbpd in the last week.
- The demand for crude oil is expected to rise at a slower pace in the remaining 2021 because of surging COVID-19 cases, stated by the International Energy Agency.
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19th Aug 12:15 PM AEST
AstraZeneca to change vaccine’s name to Vaxzevria in Australia
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The touted vaccine for COVID-19, AstraZeneca, will be undertaking a name change in Australia in order to make it simpler for ‘vaccinated’ people to travel internationally.
The vaccine manufacturer has declared that the vaccine will now be known as Vaxzevria and this is just a part of a global name-change plan to make sure that people who have received the jabs are able to move internationally swiftly when borders open up.
The pharma company has stated that the rebranding programme has been started in the European Union and this renaming planned in Australia will just add the ongoing uniform branding plan.
It should be noted that AstraZeneca has been in news since it led the vaccination rollout in Australia when a couple of deaths were linked to the name of the vaccine and the pharma company.
The company stated that there is no difference in the vaccine even after the name change and it is the same product which is being made at the CSL labs in Australia.
The vaccine has also got the emergency authorisation from the World Health Organisation.
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19th Aug 11:23 AM AEST
Venture (ASX:VMS) books first shipment at Riley Iron Ore Mine, shares skyrocket on ASX
Venture Minerals Limited (ASX:VMS) shared on Thursday that commissioning of the Wet Screening Plant at the Riley Iron Ore Mine has been completed. The Wet Screening Plant is now fully installed and completely operational. As a result, 24-hour processing is now on, and the first stage of steady state production has been achieved.
The Company suggested that completion of commissioning of the Wet Screening Plant has facilitated constant ore transport from the Riley Iron Ore Mine to the Port of Burnie. The haulage and port services agreement with Qube was recently signed and activated.
The AX release said that iron ore production from the Plant commissioning phase, along with present steady state production, has given a chance to Venture to charter its first bulk carrier vessel with a capacity of 46,000 tonnes from a key international shipping operator.
The stock VMS was spotted trading 23.493% higher at AU$0.102 per share at 11:00 AM AEST.
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19th Aug 11:23 AM AEST
ASX 200 opens lower; local miners accelerate fall
The Australian benchmark, the ASX 200 has opened in red as Wall Street ended lower overnight. The index was 0.43% down or 32.3 points lower at 7,469.8 at the open. A correction in commodity prices is also weighing on the local miners while a steady increase in the country's COVID-19 infections is making the markets jittery.
As of 10:30 AM AEST, the ASX 200 has fallen further to 7,440.8, shedding 0.82% or 61.3 points. The ASX All Ordinaries Index has also taken a hit of 0.73% or 56.9 points to 7,713.8.
The fall in the ASX 200 has been majorly contributed by Redbubble Limited (ASX:RBL) and BHP Group Limited (ASX:BHP), both losing 11.44% and 5.24%, respectively.
Over The Wires Holdings Limited (ASX:OTW) has clocked a 29% increase in FY21 revenue to AU$112.7 million, however, the net profit has come down to AU$3.4 million, from AU$5 million last year. A one-time AU$3.9 million amortisation charge was the major hit to the profit figure.
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19th Aug 10:39 AM AEST
Origin Energy (ASX:ORG) makes a loss of A$2,291 million
The Utilities focused firm Origin Energy Limited (ASX:ORG) shared its 2021 full-year results on Thursday.
The Company has announced a statutory loss of AU$2,291 million for the entire year ended 30 June 2021. This mainly comprises AU$2,247 million of non-cash charges including impairments and a deferred tax liability.
Hot Stocks: Newcrest Mining, Treasury Wines, Origin Energy
The Company reported underlying profit of AU$318 million is suggestive of lower commodity prices both in the Energy Markets and Integrated Gas divisions.
Company’s Free Cash Flow remained robust at AU$1,140 million driven by a high cash conversion in Energy Markets due to lower working capital requirements and lower interest and tax payments.
Origin has shared a strong cash flow enabled debt reduction of AU$519 million and allowed investment in growth and dividends to shareholders at the same time.
The ORG board has determined an unfranked final dividend of 7.5 cents per share.
Operating highlights:
Energy Markets: Underlying EBITDA for Energy Markets was AU$991 million, down 32% on the prior year. Total customer accounts rose by 30,000. This mainly was triggered by expansion in broadband, community energy services and gas.
Integrated Gas: Integrated Gas Underlying EBITDA was AU$1,135 million, a 35% reduction on the prior year.
The stock ORG traded last at AU$4.370 per share on the ASX.
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19th Aug 10:38 AM AEST
Newcrest Mining (ASX:NCM) delivers record returns at Cadia mine and in FY21 results
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Newcrest Mining Limited (ASX:NCM) has approved the Cadia PC1-2 Pre-Feasibility Study and will now commence the Feasibility Stage and Early Works Program. It has also delivered record profit, free cash flow and a 129% increase in final dividend in FY21.
Cadia PC1-2 Pre-Feasibility Study
NCM has approval for funding of AU$120 million for Early Works Program at Cadia, which are to begin from December 2021 quarter. The PC1-2 Pre-Feasibility Study has estimated total capital expenditure of AU$1.3 billion and an after-tax Internal Rate of Return (IRR) of 21.5%. It has a 17-year mine life from its first production. Feasibility Study has now commenced.
FY21 results
NCM achieved gold production of 2.1 million ounces and a record copper production of 142.7 thousand tonnes in FY21. It earned a record statutory and underlying profit of AU$1.2 billion, up 80% and 55%, respectively. The annual free cash flow was AU$1.1 billion and a record AISC margin of 49% in FY21. NCM also had a strong balance sheet with a net cash position of AU$176 million as of 30 June 2021.
Hot Stocks: Newcrest Mining, Treasury Wines, Origin Energy
NCM shares last traded at AU$25.270 on the ASX.
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19th Aug 10:33 AM AEST
PointsBet (ASX:PBH) selected as NFL approved sportsbook operator
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Corporate bookmaker PointsBet Holdings Limited (ASX:PBH) is now National Football League's (NFL) approved sportsbook operator (ASO) for upcoming 2021 season.
PBH will thus have sponsorship opportunities and brand visibility from its' unique integrations across various TV and digital assets, including NFL, owned networks and other media partners. PBH also gains use of official NFL data, enhancing its' customer experience. As per ASX release, this selection acts as cornerstone for PBH to provide the fastest and most comprehensive in-play betting experience worldwide.
Earlier this year, PBH announced that NFL and future Hall of Famer Drew Brees officially has joined the team as a brand ambassador. Brees is this season entering a broadcasting career with NBC Sports – PBH's official sports betting partner, and this will deepen the NBC Sports and PBH relationship.
NBC Sports will also provide PBH full year, multi-platform media and marketing opportunities for all of its events.
PBH shares traded last at AU$10.280 per share on the ASX.
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19th Aug 10:33 AM AEST
Austin (ASX:ANG) approves major APAC Manufacturing Investment
Mining equipment design and manufacturer, Austin Engineering Limited (ASX:ANG) shared today that it has commenced a AU$6.5 million capital investment to transform and automate its design and manufacturing facilities at its major Asia Pacific centres in Perth and Indonesia.
The CAPEX program will feature a new manufacturing flow approach with increased automation, custom jigs, fixtures, workstations and a standardised manufacturing approach to building product. Austin will still be able to provide customised engineering solutions and products to its customers while leveraging the benefits of a production flow line. In particular, Austin sees major benefits to its truck body product offering, which comprises nearly 70% of Austin’s annual revenues.
As per the release, the expected payback period is twelve months post-implementation, with the majority of benefits to be realised in FY2023. However, the Company expects, incremental benefits will be achieved during the latter months of FY2022.
Funding for the plans will be done via operating cash flows and surplus asset sales.
Meanwhile, the stock traded last at AU$0.192 per share on the ASX.
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19th Aug 10:02 AM AEST
Treasury Wines (ASX:TWE) survives China taxes, marks NPAT up 2%
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Treasury Wine Estates Limited (ASX:TWE), on 19 August 2021, shared its annual 2021 financial result, with NPAT up 2% to AU$250 million and EPS up 2% to 34.7 cents per share.
TWE reported EBITS of AU$510.3 million, in line with the prior year, and EBITS margin 0.6 ppts higher to 19.9%.
Hot Stocks: Newcrest Mining, Treasury Wines, Origin Energy
The Company shared that the F21 EBITS of AU$510.3 million was quite in line with the prior year despite Mainland China EBITS declined by $77.3 million. Also, EBITS margin rose 0.6 ppts to 19.9% and EBITS increased 3% on an organic basis.
The Company’s announcement stated that NSR per case rose across all regions, triggered by regular premiumisation and consumer-led portfolio expansion, with the Luxury and Premium portfolios now contributing 77% of global NSR, up from 71% in F20.
Also, TWE reported a full year cash conversion 100.8%, with Net Operating Cashflow 4%.
TWE shared, a strong, flexible balance sheet and investment grade credit profile has been retained, with Net Debt down AU$376.5 million in F21 to AU$1,057.7 million.
The Wine manufacturer has declared a final dividend of 13.0 cents per share, fully franked. This is a straight rise of 62.5% on F20 final dividend.
Operational highlights:
Meanwhile, operations wise, in F21, TWE delivered strong growth in the $10-30 Premium portfolio in the Americas, EMEA and ANZ regions, led by 19 Crimes, Pepperjack, Squealing Pig, Beringer Brothers and Matua. These positive growth trends were moderated by ongoing global pandemic disruptions, higher COGS and significantly reduced shipments to Mainland China following the introduction of import duties on Australian wine.
Also, TWE informed that starting from 1 July 2021, it will be adopting a new business model under three brand-led portfolio divisions – Penfolds, Treasury Premium Brands and Treasury Americas.
The stock TWE traded last at AU$12.690 per share on the ASX.
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19th Aug 09:34 AM AEST
Australian share market to fall after Wall Street declines
The Australian shares are expected to open lower on Thursday after Wall Street and crude oil declined as July monetary policy meeting minutes showed that US Federal Reserve officials eye taper by year-end. In addition, a fall in commodity prices may exert pressure on the domestic miners, while a steady rise in the country's COVID-19 cases could negatively impact market sentiment. ASX-listed firms such as Newcrest, Evolution and South32 would be releasing their earnings report on Thursday.
The ASX 200 is expected to open 51 points or 0.7% lower this morning after ending down 0.1% at 7,502.1 points on Wednesday. On Wall Street, the Dow Jones dropped 1.1%, the S&P 500 fell 1.1%, and the NASDAQ tumbled 0.9% lower.
The minutes revealed that Fed officials expected that the central bank’s monthly debt purchases could ease this year if the economy continued to improve on expected lines. While a section of officials also believed that the fast spread of the coronavirus Delta variant may temporarily delay the full reopening of the economy.
While ongoing spread of Delta variant has triggered concerns that the global economic rebound may get delayed, turmoil in Afghanistan and fresh crackdown on tech sector in China added worries. According to data released on Wednesday, US homebuilding declined on a higher-than-expected rate in July.
Following the release of Fed minutes, US Treasury yields also fell and benchmark 10-year notes dipped to 1.2634%.