The equity market of Australia closed in red at the close of trading session on May 12, 2020. S&P/ASX200 witnessed a sharp fall of 58.2 points to 5403. S&P/ASX 200 Energy (Sector) moved down by 180.3 points to 7,115.5 and S&P/ASX 300 Metals and Mining (Industry) stood at 3,861.0 with a fall of 2.09%. All Ordinaries experienced a decline of 61.8 points to 5497.3 at the end of the same trading session.
On May 12, 2020, some companies ended the session in green despite the overall decline in the broader market. CSR Limited (ASX: CSR) went up by 10.059% to $3.720 per share. Resmed Inc (ASX: RMD) rose by 5.17% to $26.040 per share. G.U.D. Holdings Limited (ASX: GUD) stood at $9.480, indicating an increase of 3.947%.
S&P/NZX50 settled the trading session at 10,819 with an increase of 0.54% on an intraday basis. SeaDragon Limited (NZX: SEA) soared 43.33% to NZ$0.086. Plexure Group Limited (NZX: PLX) inched up by 8.75% and ended the session at NZ$0.870. However, Scott Technology Limited (NZX: SCT) tumbled by 6.74% to NZ$1.800 per share.
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CSR Limited Rose 10.059% on Australian Stock Exchange
CSR Limited (ASX: CSR) has recently released its results for the year ended 31st March 2020, wherein, it reported net profit after tax amounted to $125.3 million, reflecting a rise from $78.0 million of pcp. Building Products revenue for the period went down by 6% to $1.6 billion, which indicates continued weakness in residential building activity. During the same period, CSR undertook a prudent approach to cost management and hence witnessed minimal impact from COVID-19. The company managed to close the year with a healthy balance sheet comprising net cash of $95 million. The company has also secured additional facilities of $200 million in May 2020 to bolster the liquidity position. Considering the uncertain economic environment, the company has decided to not pay final dividend for the year ended 31st March 2020.
Resmed Inc Ended in Green on 12th May 2020
Resmed Inc (ASX: RMD) recently notified the market with the results of Q3 FY20 and reported revenue of $769.5 million, up by 17% on a constant currency basis. Q3 revenue in combination with Asia, Europe and other markets witnessed an increase of 27% on the CC basis. This growth was witnessed primarily because of sales in its mask and device product portfolios along with higher demand of ventilators. Net income and diluted earnings per share for the period witnessed the growth of 55% and 53%, respectively. The company reported cash flow from operations amounting to $239.7 million as compared to net income of $163.1 million. During Q3 FY20, the company has paid $56.4 million in the form of dividends.