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The equity market of Australia ended in red on 27th February 2020, and the S&P/ASX200 showcased a fall of 50.2 points and stood at 6657.9. All Ordinaries closed at 6737.4 with a decline of 0.8%. Moving towards the performance of some sectors, S&P/ASX 200 Energy (Sector) ended the day at 9,776.5, down by 197 points. S&P/ASX 200 Consumer Discretionary (Sector) settled at 2,615.9 with a drop of 1.57%.
Let us now look at the companies which performed well on ASX. Adelaide Brighton Limited (ASX: ABC) closed at $3.060 per share and witnessed a surge of 6.25%. A.P. Eagers Limited (ASX: APE) settled the session at $9.010 and inched up by 6.125%.
Turning the needle at NZX Main Board, PaySauce Limited (NZX: PYS) has been a top gainer and closed at NZ$0.600 with a rise of 15.38%. Rakon Limited (NZX: RAK) closed the session at NZ$0.275, reflecting an increase of 14.58%. Coming to decliners, New Talisman Gold Mines Limited (NZX: NTL) plunged by 14.29% and stood at NZ$0.006.
Recently, we have written an article on the latest earnings of some companies from the consumer discretionary sector. Please click here, to read the information.
Adelaide Brighton Limited Settled In Green on ASX
Adelaide Brighton Limited (ASX:ABC) recently released its results for the full-year 2019, wherein it reported revenue of $1,517.0 million, which was because of increased competition and challenging market conditions in the construction materials market. Underlying net profit after tax was in line with guidance and stood at $123.0 million. The company declared fully franked final dividend of 5 cents per share. For FY20, the company anticipates continued competitive pressures and construction materials market to remain subdued.
A.P. Eagers Limited to Sell Refrigerated Logistics Division
A.P. Eagers Limited (ASX:APE) recently announced that it signed an agreement to sell Refrigerated Logistics division of Automotive Holdings Group Limited (Subsidiary of APE) to Anchorage Capital Partners. Following the completion of the sale, A.P. Eagers will be receiving cash proceeds of around $100 million, which will be used to repay all finance leases and hire purchase liabilities associated with Refrigerated Logistics. This will take the company to the expected reduction in net debt of around $95 million.
Costa Group Holdings Limited Announced Final dividend Amounting to 2.0 cps
During 1H20, Costa Group Holdings Limited (ASX:CGC) reported EBITDA – SL of $98.3 million and NPAT – SL of $28.4 million. The company reported revenue amounting to $1,048 million, reflecting a rise of 5.8 % against pcp. This growth is driven by new Colignan farm sales and increased table grape marketing volume. At the end of CY19, the net debt of the company stood at $178.8 million. In January 2020, the company experienced improved pricing levels throughout most categories, mainly berries and mushrooms. The Board declared a fully franked final dividend amounting to 2.0 cps, bringing the total dividend for CY19 to 5.5 cents per share.
