Market Update: How Australian Markets Performed On 20th February 2020?

3 min read | February 20, 2020 10:35 PM AEDT | By Team Kalkine Media

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Market Update: How Australian Markets Performed On 20th February 2020?

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The equity market of Australia settled in green on 20^th February 2020. The S&P/ASX200 closed at 7162.5 with a rise of 17.9 points or 0.2%. At the close of same day, All Ordinaires stood at 7255.2, up by 0.2%. S&P/ASX 200 Consumer Staples (Sector) showcased a rise of 126.2 points and ended at 13,573 and S&P/ASX 200 Energy (Sector) stood at 10,988.2, which witnessed a rise of 20.1 points.

Let us now look at some companies which performed well. Southern Cross Media Group Limited (ASX:SXL) ended at $0.860 per share reflecting an increase of 13.907% on an intraday basis. Perpetual Limited (ASX:PPT) settled the session at $47.270 per share and rose by 11.145%.

Looking at NZX Main Board, Plexure Group Limited (NZX: PLX) closed the session with a rise of 7.78% and stood at NZ$0.970 per share. Metro Performance Glass Limited (NZX: MPG) soared by 5.56% and ended the session at NZ$0.285. Coming to the losers, New Talisman Gold Mines Limited (NZX: NTL) plunged by 12.50% and closed at NZ$0.007 per share.

We have written an article on Aspire Mining Limited (ASX:AKM) with some important information. To read the information, please click here.

Southern Cross Media Group Limited Reported Decent First Half Results

Southern Cross Media Group Limited (ASX: SXL) notified the market with the operational and financial performance for the half year ended 31^st December 2019 (1H FY20) and reported underlying EBITDA of $62.2 million. The digital audio revenue of the company witnessed a growth of 140% against pcp. This growth has been driven by PodcastOne Australia. The sales team of the company have given a strong performance during a weak media environment. The Board of the company declared fully franked interim dividend amounting to 2.75 cents per share, which is to be paid on 16^th April 2020.

On 31^st December 2019, the company has wrapped up the acquisition of Redwave and anticipates a contribution of $2 million to EBITDA in the 2H FY20. Eight radio stations of Redwave in regional Western Australia would be rebranded within the company’s Triple M and Hit networks from 16 March.

Perpetual Limited Settled in Green On ASX

Perpetual Limited (ASX: PPT) recently reported its operational and financial performance for the half year ended 31^st December 2019 (1H FY20) and reported statutory net profit after tax of $51.6 million, reflecting a fall of 14% and an underlying profit stood at $56.2 million, which witnessed a decline of 7%. The company declared fully franked interim dividend amounting to 105 cents per share, which reflects a payout ratio of 95%. As per the release, Perpetual Corporate Trust’s PBT amounted to $27.5 million, which reflects a rise of $5.1 million or 23% as compared to 1H FY 2019. The result was supported by robust growth within the commercial property and managed investment funds, along with the higher asset prices.

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