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The equity market of Australia was in red on 24th February 2020. S&P/ASX200 settled at 6978.3 with a fall of 160.7 points or 2.3%. All Ordinaries closed the day at 7065.4 with the drop of 2.3% on an intraday basis. Let us now look at the performance of some sectors. S&P/ASX 200 Energy (Sector) witnessed a decline of 4.11% and ended at 10,446.8. S&P/ASX 200 Health Care (Sector) indicated a fall of 1417.9 points or 3.05% and stood at 46,504.1.
There were some companies which performed well even through there was a fall in overall market. Saracen Mineral Holdings Limited (ASX:SAR) closed the day at $4.500 per share with a rise of 7.399% on an intraday basis. Chorus Limited (ASX:CNU) settled at $6.420 per share reflecting an increase of 5.592%.
Previously, we have provided our input on Pental Limited (ASX:PTL). To read the article, please click here.
Saracen Mineral Holdings Limited settled in green on Australian Stock Exchange
Saracen Mineral Holdings Limited (ASX: SAR) recently published a presentation, wherein, it stated that the company has posted EBITDA margin and Underlying NPAT margin of 44% and 20%, respectively for 1H FY20. The company witnessed a rise of 84% in underlying net profit after tax, which amounted to A$80.2 million. During the half year, the company reported a rise of 22% in gold production to a record 216,452oz.
The cash and cash equivalents stood at A$283.8 million as at 31st December 2019, and the company is on track to meet production guidance of +500,000 ounces for FY20.
Chorus Limited Releases 1H FY 2020 results: What You Need to Know
Chorus Limited (ASX: CNU), on 24th February 2020, notified the market with the results for the first half of financial year 2020. The company reported net profit after tax amounting to $31 million and earnings before interest, tax, depreciation and amortisation of $332 million as compared to $318 million of 1H FY19. The growth in EBITDA has been witnessed due to a combination of operating cost reductions and strong broadband connections growth. The Board of the company declared an interim dividend amounting to 10 cps. Notably, the company’s operating revenue amounted to $483 million as compared to 1H FY 2019 figure of $489 million.
On the outlook front, the company has increased its EBITDA guidance for FY20 and now expects it in the range of $640 million to $655 million as compared to the previous range of $625 million to $645 million. However, as per the release, dividend guidance for FY 2020 has been unchanged at 24 cps, which is subject to no material adverse changes in the circumstances or outlook.
