ASX stocks in focus: JB Hi-Fi, BHP Group, and Westpac

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ASX stocks in focus: JB Hi-Fi, BHP Group, and Westpac

 ASX stocks in focus: JB Hi-Fi, BHP Group, and Westpac
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Highlights

  • JB Hi-Fi Limited delivered solid FY2021 results with a 12.6% growth in total sales.
  • BHP Group has commenced a strategic review of its Petroleum business and would be declaring its preliminary results today.
  • Westpac Banking has reported a slight drop in the CET1 ratio from 12.3% to 12.0%.

In the past couple of days, the shares of JBH, BHP, WBC are gaining market attention following the release of their recent announcements. JB Hi-Fi shares are trending following the release of solid FY2021 results. BHP would be announcing its preliminary results and the dividend amount today. WBC has provided an update on Q3 FY2021.

Australian firms JB Hi-Fi, BHP Group and Westpac have garnered notable market attention in the past couple of days, driven by significant announcements of late. While JB Hi-Fi impressed with the FY2021 results, BHP is set to release its results today and has also gained attention because of the strategic review of its Petroleum business. Banking major Westpac has also provided an update on Q3 FY21 with a focus on capital, funding, and credit quality.

This article will walk you through the updates in detail.

JB Hi-Fi Limited (ASX:JBH)

JB Hi-Fi Limited share price ended the day’s session in green on 16 August 2021 following the release of its record FY2021 results for the period ended 30 June 2021.

  • Total sales increased by 12.6% to AU$8.9 billion.

  • Online sales were up 78.1% to AU$1.1 billion.
  • EBIT grew by 53.8% to AU$743.1 million.
  • NPAT increased by 67.4% to AU$506.1 million.
  • JBH declared a final dividend of 107 cents per share, up 18.9% compared to the previous corresponding period. This brings the total dividend for FY2021 to 287 cents, up 51.9% on pcp.

JBH has maintained its commitment to the health, safety, and wellbeing of team members and customers during the pandemic period. Besides, the Company announced key appointments from internal promotions.

                       

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JBH has made continued investments in online and supply chain operations. Also, the Company raised AU$3.7 million as part of workplace giving programs in FY2021.

BHP Group (ASX:BHP)

BHP Group is trending following the release of its notice of dividend and 2021 AGM dates. On 11 August 2021, the Company announced the proposed date for the 2021 Final Dividend of BHP Group Limited and BHP Group Plc.

The Company would also declare its preliminary results and the dividend amount for the period today.

Besides, the Company responded to press speculation concerning its Petroleum business. BHP frequently assesses its assets portfolio to look for prospects that would help increase long-term shareholder value.

On 16 August 2021, BHP stated it had started a strategic review of its Petroleum business to re-evaluate the business’ position in the BHP portfolio, and highlighted that several options are being assessed.

A potential merger of the business unit with Woodside Petroleum Ltd was one such option along with Woodside shares distribution to BHP shareholders.

RELATED ARTICLE: Is BHP Group planning to sell its petroleum assets to Woodside Petroleum?

Westpac Banking Corporation (ASX:WBC)

Westpac Banking Corporation has provided a Q3 FY2021 update for the period ended 30 June 2021. Key highlights include:

  • Compared to March 2021 quarter, WBC’s CET1 ratio declined marginally from 12.3% to 12.0%.
  • Risk-weighted assets (RWA) increased by AU$8.5 billion over the previous quarter.
  • The Pro forma CET1 ratio for the June 2021 quarter was 12.5%.
  • Funding and liquidity remain strong.
  • The deposit to loan ratio was 80.2% (vs 79.8% in March 2021).

Besides, the Company completed the sale of General Insurance. Westpac also declared selling New Zealand Life insurance, Motor Vehicle Finance, and the Australian Life business.

Besides, the bank has been contemplating sharing a part of the capital with its shareholders, considering the bank has significant cash after the recovery post-COVID-19.

RELATED ARTICLE: Westpac headed for share buyback soon?

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