Live ASX News Today
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26th Aug 07:18 PM AEST
Tokyo Paralympics: Australia fighting hard against France in wheelchair rugby
Australia should win this one to keep their hopes to enter the semi-finals alive. The match started at 6:30 PM AEST.
As of now, the country is credited with 13 medals in the 2020 edition of Paralympics on in Tokyo.
Meanwhile, in table tennis, Australia’s Qian Yang goes down to Tien Shiau Wen. In the same sport, Joel Couglan defeated Alabi Olufemi.
In cycling, David Nicholas has won a bronze medal in the men’s C3 3000m segment.
The Equestrian segment, Victoria Davies has scored 65.618 in the Grade 2 individual dressage.
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26th Aug 05:41 PM AEST
Tyro (ASX:TYR) reports strong performance across key financials in its FY21 result
Tyro Payments Limited (ASX:TYR) has reported its FY21 results on Thursday with record performance across all key financial measures. In addition, the Company has reported a rise in EBITDA and has ended the year with a strong balance sheet.
The key highlights of the result:
- TYR has recorded AU$25.5 billion in transactions processed by Tyro merchants up by 26% (FY20: AU$20.1 billion).
- Transaction growth drove a record gross profit of AU$119.4 million, up by 28% (FY20: AU$93.5 million).
- EBITDA earned by TYR in FY21 was AU$14.2 million, up by 424% (FY20: AU$4.4 million loss).
- TYR’s loan originations in May 2021 of AU$8.1 million, FY21 originations AU$25.8 million (FY20: AU$60.1 million)
- TYR has also acquired health fintech Medipass, a crucial step in building Tyro’s health solution.
- TYRO ended the year with a strong Balance Sheet - AU$172.8 million in cash and financial investments - future growth supported.
TYR closed 4.469% higher at AU$3.740 per share on the ASX.
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26th Aug 05:03 PM AEST
ASX snaps three-day gaining streak; Blackmores, Whitehaven Coal, Qantas rise
Australian share market ended lower on Thursday, snapping three session gaining streak, as caution prevailed in the market ahead of a key update on the US monetary policy. Federal Reserve Chair Jerome Powell will deliver a speech at Jackson Hole this Friday, which is expected to bring more clarity on timing of the tapering plans. Meanwhile, coronavirus concerns showed no sign of abating as New South Wales reported 1,029 new locally acquired cases in the past 24 hours, the highest daily number ever recorded in Australia. Investors also reacted to corporate earnings report of big companies such as Whitehaven Coal, Ramelius Resources, Appen, A2 Milk, Qantas Airways, Woolworths, St Barbara, Eagers Automotive, Link and others.
The ASX200 closed 40.70 points or 0.54% lower at 7,491.20, crossing below its 20-day moving average. During the day’s trade, the index declined as much as 0.7% to hit an intraday low of 7,477.80.
The market breadth, indicating the overall strength of the market, was weak as nine of 11 sectors ended bleeding in red. The utilities sector emerged as the worst performer with 2.2% loss, followed by material, which fell 1.5%. Among others, tech and health care sectors also ended with over 1% loss. Among others, consumer staples, energy, industrial and financial sector also settled lower.
Meanwhile, telecom sector emerged as top performer with 0.8% gain, paring previous session losses. Consumer discretionary sector also settled in green with 0.4% gain.
Among the individual stocks, Australian health supplements company Blackmores (ASX: BKL) emerged as top gainer by rising 15%. The Vitamins group reported 90% growth in net profits at AU$28.6 million for the 2021 financial year. It also announced to pay a fully-franked final dividend of 42 cents per share.
Some of the other notable gainers were coal miner Whitehaven Coal (ASX:WHC), resource firm Iluka Resources (ASX: ILU), retail travel outlet Flight Centre Travel Group (ASX: FLT) and domestic carrier Qantas Airways (ASX: QAN).
On the flip side, software company Appen (ASX:APX) was the top laggard with 21.35% loss. Some of the other worst performers were superannuation business Link Administration (ASX: LNK), infant formula company A2 Milk (ASX: A2M), financial services firm IOOF Holdings (ASX:IFL) and Platinum Asset Management (ASX:PTM).
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26th Aug 05:02 PM AEST
International borders likely to open from December this year: Qantas
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On Thursday, shares of Australia’s largest airline Qantas Airways Limited (ASX:QAN) rose by more than 3% after the Australian Airlines predicted that both domestic and international borders are likely to open by December this year given the expeditious rollout of Covid vaccine in Australia. Qantas mentioned this in its release featuring results for FY21.
Today, the Qantas group revealed that the total revenue loss from COVID reached AU$16 billion as the full year impact of minimal international travel and multiple waves of domestic border restrictions continued to hit travel demand.
The Australian flag carrier Qantas has said that Underlying EBIT was AU$272 million despite a full year of COVID-related travel restrictions.
A total of 9,400 people have left the Qantas Group, which is an increase on the previous estimate of 8,500.
Today’s announcement also said that the demand for air cargo capacity remained extremely strong through FY21 due to a drastic increase in online shopping in the Australian market. It said that Qantas Freight capitalised on this demand to produce a record profit that considerably offset the costs of the Group’s grounded international operations. Furthermore, in assumptions for FY22, the Group has said that international border closures and quarantine restrictions are likely to be relaxed once 80% of eligible Australians are vaccinated from December 2021.
In the FY21 results, the Australian airlines did not speak anything with respect to dividend.
Qantas closed 3.490% up at AU$5.040 per share on the ASX.
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26th Aug 04:21 PM AEST
Dicker Data (ASX:DDR) maintains substantial revenue in the HY21 results
Dicker Data Limited (ASX:DDR) has released the HY21 results for the half-year ended on 30 June 2021. The Company has reported strong revenue growth and an increase in gross profit.
The key highlights of the result:
- DDR has reported the total revenue for the six months to 30 June 2021 AU$1,069.3m (June 20: AU$1,006.1 million, up by AU$63.2 million (6.3%).
- The Company has maintained its robust revenue growth trajectory.
- Dicker’s gross profit has increased by 3.3% to AU$99.6 million as gross margin finalised at 9.3% (June 20: 9.6%).
- Operating costs as a percentage of sales have improved at 4.8% (FY20: 4.9%)
- Net profit before tax was finalised at AU$45.9 million, up by 9.2%.
- Basic earnings per share have increased to 18.58 cents per share, up by 8.8%.
- As the gross margin went above long-term averages, margins have decreased against the comparative period following strong margin opportunity in the first half of FY20.
The DDR stock closed 1.143% down at AU$15.920 per share today.
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26th Aug 04:21 PM AEST
Damstra (ASX:DTC) reports robust performance in FY21 with 40% revenue
The ASX-listed integrated workplace management solutions provider, Damstra Holdings Limited (ASX:DTC), has presented the annual reports for the FY21 on Thursday. The result has stated a revenue growth of 40% in the year.
Key highlights of the result:
- The Company has reported Annualised Recurring Revenue (ARR) of AU$34.5 million, up by 63% than the prior corresponding period.
- Revenue growth reported was 40% more than FY20 to AU$27.4 million, with 87% annually recurring revenue.
- Operating leverage drives continued gross margin expansion to 78.9% as compared to FY20 (68.5%).
- The Company has also announced a strong EBITDA result of AU$6.6 million, consistent with pcp following the acquisition of the previously loss-making Vault business.
- EBITDA margin stands strong at 24.3%.
- Cash receipts of AU$31.7 million, up by 51% than FY20.
The DTC stock closed 9.244% lower at AU$1.080 per share today.
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26th Aug 03:20 PM AEST
Sydney real estate demand keeps growing, prices surge by 23%
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This year, Sydney home prices have increased by 23% as ANZ has lifted the Sydney house price growth forecast by 4% points. This is the result of the growth in home values that had taken place over the past few months amidst an extended lockdown in the city.
The bank has predicted that the prices will rise further in the upcoming two years but at a slower rate.
The lockdown could not bring down the real estate demand in Australia. The investors have returned to the market with auction clearance rate holding firms amid falling listings. The sales of real estate are higher than the number of available properties. Hence there is a considerable surge in the price.
Melbourne house prices have already increased by 20%, that of Brisbane rose by 21%, and 19% for properties in Darwin. On the other hand, Canberra had exceeded the prices of the other cities and has expected to rise by 24% this year.
Additionally, ANZ has also expected housing prices to rise by 7% in 2022 and by 3% in 2023, suggesting a favourable prediction than Westpac, which said that the prices would go up by 5% in 2022 and come down by 5% in 2023.
According to the current predictions, Sydney housing prices are likely to increase by 6%, Melbourne hosing prices by 7%, Brisbane by 8% and Adelaide by 5%. In addition, the prices in other cities such as Darwin, Hobart and Canberra are likely to increase by 6% in 2022.
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26th Aug 02:50 PM AEST
FMG and Tsingshan are likely to pump billions into Borneo
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Australia’s leading mining company Fortescue Metals Group (ASX:FMG) and China-based Tsingshan Holding Group could make huge investments to build an industrial estate for metal smelting near Borneo island’s planned hydropower plant.
- Both companies have been discussing the project since early this year and Luhut Pandjaitan, the minister of maritime affairs and investment, said smelting could start as early as 2023
- FMG Group could invest US$12 billion while Tsingshan can pump US$30 billion.
- In last year’s September Fortescue Future Industries (FFI), a subsidiary of FMG has inked an agreement to conduct feasibility studies on the utilisation of Indonesia’s geothermal and hydropower resources for industrial operations.
- Tsingshan already has considerable investments in Indonesia, ranging from processing plants to industrial parks
The metal smelting estate will be located in the North Kalimantan province on Borneo Island
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26th Aug 02:37 PM AEST
Crude oil rises on US fuel demand recovery
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Crude oil prices climbed more than 1% on Wednesday followed by the US government's data showing that fuel demand has risen to its highest level since the start of COVID-19.
- November delivery Brent Crude oil futures last traded at US$70.97 per barrel up 0.08%, whereas October delivery WTI crude oil futures traded 0.60% down at US$67.95 per barrel as of 26 August 2021 at 10:19 AM AEST.
- The four-week average for the total products supplied in the US, used as a proxy for fuel demand, soared nearly 21Mbpd, the highest since March 2020.
- The country's refiners have increased their production to 92.4% of the operating capacity, the highest since June, sending crude inventories to the lowest level since January 2020.
- As per the Energy Information Administration (EIA) data, crude oil inventories tumbled by 3Mbpd to 432.6 million barrels in the last week.
- The gain in the prices of crude oil came after the Mexican supply tumbled more than 400,000bpd following a fire at an oil platform on Sunday.
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26th Aug 02:37 PM AEST
Zoono (ASX:ZNO) posts bleak FY results, shares plummet on ASX
Shares of Zoono Group Limited (ASX:ZNO) plummeted as much as 13% and the stock posted its biggest intraday percentage loss since 28 July 2021. Also, it was among top-ten percentage losers on ASX All Ordinaries index AORD.
The maker of hand and surface sanitizers said its FY profit fell 71.6% to NZ$4.7 million.
Zoono stated FY revenue from ordinary activities fell 29.2% to NZ$27.1 million due to NZ$11 million over-ordering by customers mainly in April 2020 and reduced trading in some sectors.
On the ASX, the stock was trading 9.924% lower at AU$0.590 per share at 2:00 PM AEST.
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26th Aug 02:11 PM AEST
Peet (ASX:PPC) shares gain on strong FY numbers
Shares of residential developer Peet Limited (ASX:PPC) jumped as much as 5% to AU$1.250, their highest since 12 May 2021.
The Company has posted its annual net profit of AU$28.5 million, a turnaround from a loss of AU$30.1 million it recorded last year.
Peet informed its FY revenue also increased 17% to AU$220.3 million. It also declared final dividend of 2.50 Australian cents per share.
At 2:00 PM AEST, the stock was trading 3.781% higher at AU$1.235 per share.
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26th Aug 01:55 PM AEST
Dreamworld owner Ardent Leisure (ASX:ALG) surges on the ASX as annual loss narrows
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The share price of Ardent Leisure Group Limited (ASX:ALG) soared up 27.40% to reach at AU$1.325 per share - their highest since February 2020.
The stock is top percentage gainer in All Ordinaries index AORD.
The Dreamworld theme park owner has posted net loss of AU$86.9 million in FY21, compared with loss of AU$136.1 million a year earlier.
The Group EBITDA, excluding items, jumped more than five times to AU$30.6 million in FY21 on higher revenue from Main Event in U.S. during 2H21.
The Company said its business outlook remains positive as ALG looks forward to harnessing pent-up demand and opening four new Main Event centres in FY22.
At 2:00 PM AEST, the stock was 25% up at AU$1.300 per share.
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26th Aug 01:54 PM AEST
Alphabet’s drone Wing completes 100k deliveries on second launch anniversary
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Alphabet drone delivery company Wing has announced in a blog post on Thursday that it is completing 100,000 drone deliveries over the weekend in Logan, at the Brisbane metropolitan city having over 300,000 population. This news came just a few days before the second anniversary of the service's launch in Logan, Australia.
Logan is one of the fastest-growing cities in Australia, and Wing offers its service across 19 suburbs consisting of a population of 110,000.
Out of all the deliveries, more than half were just made in Logan. Wing has received over 4,500 orders from customers in the first week of August. The blog post has stated that each order worked out every 30 seconds in the Wing’s delivery window.
As the drone service depends upon its battery life, they have a relatively short range of delivery of about 6 miles. Therefore, each delivery takes a short time. No issue has been reported till now about the quality of the food, concerning its temperature. However, Wing avoids delivering extremely fragile food items such as eggs.
The deliveries include:
- Coffee cups- 10,000
- Children snacks pack- 1,700
- Hot chooks (roasted chicken in Australian)- 1,200
- Sushi rolls- 2,700
- Loaves of bread- 1,000
The Company has predicted its growth and is likely to expand its services in other parts of Australia, Finland and the United States within the next six months.
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26th Aug 01:45 PM AEST
Flight Centre (ASX:FLT) recovery gaining momentum, shares too trade strong
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The Flight Centre Travel Group Limited (ASX:FLT) shared financial as well as operational results of the fourth quarter of the 2021 fiscal year.
The Company mentioned that demand for travel has risen globally during this period.
Key Points of the results:
- The Company stated that the recovery is gaining momentum, particularly in corporate sector and in United States.
- Month-on-month sales revenue has risen despite lockdown and heavy restrictions – culminating in COVID period record in June 2021.
- Underlying loss in line with guidance at AU$507 million.
- The Company registered AU$3.95 billion in TTV.
- The Company recorded AU$1.4 billion of cash and investments as on June 30 2021.
Meanwhile, the stock FLT was trading 3.425% higher at AU$16.910 per share at 1:30 PM AEST on the ASX.
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26th Aug 01:18 PM AEST
Qantas (ASX:QAN) registers huge loss due to COVID-19, shares watchful on ASX
The Qantas Group (ASX:QAN) has registered a considerable full year loss and credited the same to the effects of COVID-19. However, the Company shared it has started FY22 in much better position.
As per the release, the total revenue loss from COVID-19 reached AU$16 billion as there exists a restricted international travel. Also, several waves of domestic border restrictions went on to hit travel demand.
The key highlights from the announcement:
- The Group shared AU$1.83 billion of Underlying Loss Before Tax.
- The Statutory Loss Before Tax stood at AU$2.35 billion.
- The Company reported AU$12 billion revenue impact from COVID-19 crisis in FY21.
- The Net debt reduced in 2H21 to AU$5.9 billion.
- The Statutory Net Free Cash flow of AU$267 million in 2H21.
- The restructuring program is ahead of target, delivering AU$650 million in year one.
- Total liquidity with Qantas stands at AU$3.8 billion.
- The Company stated that 95% of domestic flying is cash positive.
The Company stated that Qantas and Jetstar’s combined Underlying EBITDA from domestic flying was AU$304 million, falling to an Underlying EBIT loss of AU$669 million after non-cash depreciation and amortisation.
The release also informed that Jetstar would be bringing in idle Airbus A320 aircraft from Asia and QantasLink accessed capacity via Alliance Airlines’ Embraer E190 aircraft. As per the Group, this will help the Group exceed its pre-COVID capacity and market share when restrictions are removed.
Meanwhile, the stock QAN was spotted trading 3.182% higher at AU$5.025 per share on the ASX.
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26th Aug 12:54 PM AEST
LiveTiles (ASX:LVT) FY21 operating revenue grows 19%, EBITDA improves 91%
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The software Company dedicated for employee collaboration and communications, LiveTiles Limited (ASX:LVT) today shared its annual results for the year ended 30 June 2021. It reported a robust rise in operating revenue, underlying EBITDA and cashflows.
Key financials for FY2021 compared to FY2020 feature:
- The Company had its Operating Revenues higher 19% to AU$45 million.
- The Underlying EBITDA was 91% up at AU$1.1 million.
- The Total Contracted Licences rose 48% to 2.3 million, with Mobile (Reach) licences going up by 1211%.
- The Annualised recurring revenue (ARR) of the Company is up 17% to AU$62.8 million. On a constant currency basis ARR is up 20% to AU$64.7 million.
- The Cash receipts grew 26% to AU$51.8 million. Net cash operating outflows grew 71% to AU$6.2 million.
- New Company Strategic ‘Premiership Plan’ was launched.
LVT traded 11.765% down at AU$0.150 per share at 12:30 PM AEST.
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26th Aug 12:51 PM AEST
ASX falls 0.7% on disappointing earnings; Appen, A2 Milk lead fall
Australian shares continued to trade lower by afternoon amid broad-based sell-off in the market. The cautioned prevailed in the market ahead of the annual meeting of central bankers, while record rise in COVID-19 cases also left investors jittery. Investors also reacted to earnings numbers of some big players such as A2 Milk, Qantas Airways, Woolworths, Whitehaven Coal, Ramelius Resources, Appen, St Barbara, Eagers Automotive and others.
The ASX 200 was trading 48.10 points or 0.64% lower at 7,483.80 by lunch. Earlier today, the index opened lower, snapping three session gaining streak, and declined as much as 0.7% to hit a low of 7,477.80.
On the sectoral front, nine of the eleven sectors were trading in red zone. The health care sector was the worst performer with 1.5% loss. Utility and tech sectors also witnessed surge in selling and declined over 1% each. Among others, material, consumer staples, A-REIT and financial were reeling under selling pressure
Meanwhile, industrial and consumer discretionary sectors edged higher with modest gains.
On the COVID-19 front, New South Wales reported record 1,029 new locally acquired cases in the past 24 hours, the highest daily number ever recorded in Australia. Meanwhile, Victoria’s daily case tally rose to 80, while Queensland reported no new case for the second day on Thursday.
Technology firm Appen (ASX:APX) topped the losers chart by falling over 15% on disappointing earnings. Some of the other notable losers were infant formula company A2 Milk (ASX: A2M), Platinum Asset Management (ASX:PTM), tech solutions provider Link Administration (ASX: LNK) and electronic retailer JB HI-FI (ASX:JBH).
Meanwhile, Australia’s largest retail travel outlet Flight Centre Travel Group (ASX: FLT) topped the gainers list by 4.3%. Some of the other notable gainers were travel services provider Corporate Travel Management (ASX:CTD), cloud-based wagering platform PointsBet Holdings (ASX: PBH), resource firm Iluka Resources (ASX: ILU) and real estate firm Growthpoint Properties Australia (ASX:GOZ).
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26th Aug 12:07 PM AEST
Silk Logistics (ASX:SLH) posts rise of 28% in revenue, shares trade tad higher
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Technology driven transportation giant Silk Logistics Holdings Limited (ASX:SLH) shared its full year results for the 52-week period ended 27 June 2021 (FY21). This is the Company’s first full year financial results release as it got listed on 9 July 2021 on the ASX.
FY21 Highlights
- The Company posted a revenue of AU$323.3 million, an increase of 28.6% or AU$71.8 million as compared to the last year’s corresponding period.
- The statutory NPAT stood at AU$8.4 million, an increase of AU$12.7 million versus the last corresponding period.
- The Company shared an EBIT of AU$19.4 million, an increase of AU$18.5 million.
- The return on capital employed (ROCE) stood at 50.8%, up from 2.6% pcp.
SLH shared via the announcement that the Group will go on to spend in its technology platform and will target new national, blue-chip customers to take its market share higher.
The stock SLH was trading 0.2% up at AU$2.440 per share at 11:30 AM AEST.
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26th Aug 12:06 PM AEST
Suvo (ASX:SUV) shares surge as it gets 4N purity at HPA test work in China
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Australian resource explorer Suvo Strategic Minerals Limited (ASX:SUV), received 99.992% or 4N purity from its first high purity alumina (HPA) test work program. The test was done by the Beijing General Research Institute of Mining and Metallurgy (BGRIMM) in China. Samples produced were from White Cloud ore. Additional test work are now to be conducted for achieving 5N purity HPA.
Higher grade feed stock (>38%) and low impurities offer significant advantages for the production of HPA. Current estimates of global pricing for HPA ranges between US$15,000 to US$30,000 per tonne for 4N and USD$40,000 to USD$50,000 per tonne for 5N products. SUV plans to capitalise on these outstanding results as it progresses.
As per the release, SUV will now investigate commissioning a pilot plant and evaluate new markets and offtake partners through Research and Development subsidiary Suvo Minerals Technology.
SUV shares traded 6.896% higher at AU$0.155 at 11:20 AM AEST.
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26th Aug 12:05 PM AEST
Jumbo (ASX:JIN) enters Canadian charity lottery market with acquisition of Stride
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Australia based digital lottery firm Jumbo Interactive Limited (ASX:JIN) today shared it has signed a deal to acquire 100% of Canadian lottery management provider Stride Management Inc. for a cash consideration of AU$11.7 million.
Jumbo has been wanting to expand globally and the Stride acquisition is just another step in the same strategy. JIN acquired UK-based Gatherwell Ltd in November 2019.
Meanwhile, Calgary-based Stride caters to more than 750,000 active lottery players in the Alberta and Saskatchewan provinces.
As per Jumbo, Stride is likely to generate around AU$122 million in Total Transaction Value.
The total consideration of AU$11.7 million will be funded completely from available cash.
Also, Jumbo Interactive announced results for the full year ended 30 June 2021.
The results showed an ongoing strength of the Lottery Retailing segment despite the impact of fewer and lower value large jackpots.
FY21 Group performance highlights:
- The Company’s Total Transaction Value is up 37% to AU$487.0 million.
- Revenue is up 17% to AU$83.3 million.
- The Underlying EBITDA is up 13% to AU$48.9 million.
- The Company reported an Underlying NPAT of AU$28.3 million, up 7%.
- Jumbo posted an Underlying EPS of 45.4 cents per share, up 7%.
- The Company declared a Fully franked final dividend of 18.5 cents per share, taking the total FY21 dividend to 36.5 cents per share, up 3%.
Meanwhile, the stock JIN traded 9.5% lower at AU$16.540 per share at 11:20 AM AEST.
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26th Aug 11:16 AM AEST
Appen (ASX:APX) to acquire leading location data provider Quadrant
Appen Limited (ASX:APX) today announced the acquisition of Quadrant, a global leader in mobile location and Point-of-Interest (POI) data.
This acquisition develops the scope of Appen’s data competencies and product offering for current customers and also opens new growth opportunities in the global location intelligence market.
As per the Company release, Quadrant deals in providing mobile location data, POI data, and data compliance services that aid business dealers in location analytics and extracting location-based intelligence.
Thursday's Buzzing ASX Stocks: Woolworths, Okapi, Appen
Appen shared that the global location intelligence market was valued at US$11.9 billion in 2020 and is likely to grow at a 14% CAGR, reaching ~US$29.8 billion in 2027.
Appen will be paying US$25 million in cash for the acquisition. Also, a prospective supplementary disbursement of up to US$20 million in Appen shares will done after accomplishing all targets in 2022 and 2023.
As per the release, the cash payment will be funded from existing cash reserves and the transaction is expected to close in September 2021.
Appen, today also announced its results for the half year ended 30 June 2021.
- The Group recorded a revenue of US$196.6 million, down 2.0%.
- Global Product revenue was US$22.3 million, up 15.2%.
- New Markets revenue was US$47.8 million, up 31.5%.
- The Underlying EBITDA stood at US$27.7 million, down 14.3%.
- The Company had US$66 million in cash as on 30 June 2021.
- Appen declared an Interim dividend of AU$4.5 cps, 50% franked.
Appen shares plunged 15.124% to trade at AU$11.730 per share at 10:50 AM AEST.
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26th Aug 11:10 AM AEST
ASX 200 opens lower as NSW sets another daily record for COVID-19 cases
The Australian benchmark index has opened lower on Thursday, snapping a three-day winning streak, despite another record high closing on Wall Street. The ASX 200 was trading 9.2 points lower or 0.12% down at 7,522.7 at the opening tick. The country's most populous city hit a new daily record of COVID-19 infections on Wednesday, reducing the risk appetite of investors. Gold stocks were also trading weak during the opening trade.
On Wall Street, chipmakers and financials helped to push the S&P 500 and the NASDAQ Composite to record closing highs. The S&P 500 closed 0.22% higher at 4,496.17, while the NASDAQ Composite was up 0.15% to 15,041.86. The Dow Jones closed the session 0.11% up at 35,405.51.
The stocks contributing to the market’s fall are Appen Limited (ASX:APX) and The a2 Milk Company Limited (ASX:A2M), both losing 12.45% and 8.45%, respectively. A few stocks trying to keep the index from falling are Iluka Resources Limited (ASX:ILU) and IOOF Holdings Limited (ASX:IFL), both gaining 5.05% and 4.13%, respectively.
Eagers Automotive Limited’s (ASX:APE) statutory net profit grew multifold to AU$202.3 million for the half year ended 30 June, from AU$11.8 million in the previous period. The company announced an interim dividend of 20 cents per share and a special dividend of 8.4 cents per share.
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26th Aug 11:06 AM AEST
Eagers Automotive (ASX:APE) posts strong H1-21 results
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Vehicle and automobile parts retailer Eagers Automotive Limited (ASX:APE) has shared its H1-21 results.
APE has delivered an underlying operating profit before tax of AU$218.6 million compared to AU$40.3 million pcp. In H1-21, demand outstrips supply, resulting in APE order bank increasing month-on-month over H2-20.
Statutory net profit after tax (NPAT) H1-21 was AU$202.3 million compared to AU$11.8 million pcp. These include gain on sale of assets totalling AU$41.1 million, offset by non-cash impairments of AU$5.2 million on revaluation of a property.
Furthermore, the APE board has approved payments of an ordinary interim dividend of 20 cents per share fully franked for H1-21. It reflects a payout ratio of 37.4% on statutory NPAT. APE also has available liquidity of AU$661.1 million as of 30 June 2021. In addition, after the sale of the Daimler Trucks business, APE has approved a special dividend of 8.4 cps.
APE shares traded a tad bit lower at AU$16.710 at 11:00 AM AEST.
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26th Aug 11:04 AM AEST
Inca (ASX:ICG) finds significant copper mineralisation at MaCauley Creek
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Resource explorer Inca Minerals Limited (ASX:ICG) has substantially upgraded the potential of MaCauley Project in northern Queensland. It has discovered large outcrops with visible copper mineralisation during recent mapping at multiple locations there. As a result, ICG’s has confirmed existing prospects and new prospects found in the northern and central areas of the project.
Meanwhile, at Mount Brown Prospect and Wallaroo Prospect, ICG has found visible, skarn-style copper mineralisation, gossanous limestone and gossanous porphyry. Also, Carraway North Prospect or Copper Cliffs ICG has discovered visible copper mineralisation, among other positive results.
Accordingly, ICG has elevated project potentials to host new mineralisation discoveries of visible copper. In addition, it has reinforced the opportunity to make a Tier-1 scale copper discovery at MaCauley Creek.
ICG shares last traded 4% lower at AU$0.120 per share at 10:50 AM AEST.
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26th Aug 11:04 AM AEST
Wisr (ASX:WZR) shows 280% revenue growth for FY21
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Diversified financials company Wisr Limited (ASX:WZR) announced its preliminary financial report commentary for FY21, which ended 30 June 2021. WZR achieved significant accelerated revenue and loan origination growth in FY21.
WZR recorded strong growth on all key metrics. Its operating revenue was up 280% to AU$27.2 million. The total new loan originations were up 169% to AU$365.8 million. It delivered a maiden positive operating cash flow for June 2021. Wisr Financial Wellness Platform now has over 450,000 customer profiles, as of 30 June 2021, an 80% increase.
WZR is well capitalised with AU$64.8 million unrestricted cash, setting it up for growth. The inaugural AU$225 million ABS transaction, the Wisr Freedom Trust 202, received a AAA Moody rating for the top tranche. It has significantly reduced the cost of funds in the Wisr Warehouse, helping it scale revenue growth in FY22 and beyond.
In FY21, WZR also launched secured vehicle loans in the auto finance market. Furthermore, after the financial year-end, it has also executed a term sheet and finalised investment in Arbour's European financial wellness fintech platform.
WZR shares traded 6.249% higher at AU$0.297 per share at 10:40 AM AEST.
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26th Aug 11:03 AM AEST
Openpay (ASX:OPY) signs US partnership with Kyriba for OpyPro
Image: © Innastok | Megapixl.com
‘Buy now. Pay smarter.’ Company, Openpay Group Ltd (ASX:OPY) shared on 26 August 2021 that it has struck a deal to expand its OpyPro business to business (B2B) platform to Kyriba’s US client base via a pilot program.
Kyriba is a firm dealing in cloud treasury and finance solutions. It provides mission-critical solutions in the cash and risk management sector. It boasts of having more than 2,000 clients globally.
Openpay stated that this partnership will take OpyPro to a huge B2B payments market.
Meanwhile, Openpay reported a strong FY21 performance
- The active plans of the brand reached 2.0 million, up 141% as compared to the previous year.
- The Company boasts of active customers of 541,000 up 69% than the last year.
- Active merchants figure stands at 3.8k up 77% as compared to last year.
- The Company, at the end of FY21, had a market leading revenue margin of 7.6%.
The stock OPY traded at AU$1.455 per share, marginally down at 10:45 AM AEST.
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26th Aug 10:06 AM AEST
Okapi (ASX:OKR) completes acquisition of Uranium Assets in US
Mineral explorer Okapi Resources Limited (ASX:OKR) confirmed the acquisition of Tallahassee Resources Pty Ltd, owning 100% mineral rights in Tallahassee Creek Uranium District of Colorado, USA. It also has optional rights to acquire Rattler Uranium Project in Utah.
OKR wants to capitalise on the Uranium sector and rapidly build up uranium assets in North America. OKR, as of now, claims to be well funded to execute plans, having AU$6.0 million in cash and cash equivalents. High impact fieldwork programs in the area are already underway.
Thursday's Buzzing ASX Stocks: Woolworths, Okapi, Appen
OKR has a clear strategy to become a new leader in carbon-free nuclear energy in North America. For this, it is assembling and developing a portfolio of high-quality uranium assets via accretive acquisitions and exploration. It has also appointed geologist Ben Vallerine as technical director to the Okapi board. He brings in with him considerable uranium experience within the US.
OKR shares last traded on ASX at AU$0.420 as of 26 August 2021.
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26th Aug 10:05 AM AEST
Woolworths’ (ASX:WOW) Group Sales rises 5.7%, eCommerce sales up 58.1%
Image: © Tktktk | Megapixl.com
Foods and retailing giant Woolworths Group Limited (ASX:WOW), today shared its full year results for the period ended 27 June 2021.
As per the announcement, the Group’s F21 trading performance was strong with sales growth of 5.7%, Group EBIT up 13.7% and Group NPAT up 22.9% on the prior year.
- The Group Sales stood at AU$67,278 million, Group EBIT at AU$3,663 million and Group NPAT stood at AU$1,972 million.
- The retailing giant posted a 58.1% rise in the eCommerce Sales segment. The sales were quoted at AU$5,602 million.
- The Company declared a dividend of 108 cents per share, a rise of 14.9%.
Thursday's Buzzing ASX Stocks: Woolworths, Okapi, Appen
The Company also shared that Australian Food eCommerce sales through WooliesX rose by 74.7% compared to the prior year, with eCommerce penetration of 7.9%.
Endeavour Drinks F21 sales increased by 9.6% with EBIT rising by 17.7% due to the continuation of the in-home consumption.
Meanwhile, the stock traded last at AU$40.820 per share on the ASX.
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26th Aug 09:33 AM AEST
ASX 200 to fall despite strong US closing
Despite Wall Street closing on a positive note, the Australian share market is expected to open lower on Thursday. The Australian benchmark index ASX 200 may start the day 13 points or 0.2% lower. On Wednesday, the index closed 0.4% higher at 7,531.9 points.
Meanwhile, A2 Milk reported a 79% profit gall in the financial year 2021 financial year due to sluggish demand from China. The revenue was down 30.3%.
On Wall Street, financials, industrials, communications, and the consumer discretionary sector lifted the three major indices higher overnight. The Dow Jones rose 0.1%, the S&P 500 climbed 0.2%, and the NASDAQ jumped 0.15%.
Market sentiment also improved after the top US health official Dr Anthony Fauci said that coronavirus could be under control by early 2022.
On Friday, US Federal Reserve Chair Jerome Powell is expected to talk about tapering the Federal Reserve’s bond-buying program at the Jackson Hole symposium.
Meanwhile, ahead of Powell’s speech, the US Treasury yields jumped to the highest in nearly two weeks. Benchmark 10-year yields rose to 1.339%.