Thermal Coal Collapse Wipes Out Whitehaven Profit
The COVID-19 driven collapse in coal prices globally in 2020, especially for thermal coal, has slashed Whitehaven Coal’s net profit for the year to June by 95%.
Read MoreThe COVID-19 driven collapse in coal prices globally in 2020, especially for thermal coal, has slashed Whitehaven Coal’s net profit for the year to June by 95%.
Read MoreCOVID-19 related lockdowns whacked the 2019-20 revenue and earnings of mass-market jewellery chain Lovisa in the year to June, closing stores, halting sales to the point where nearly 60 stores in its 440-plus global network still closed and the company has decided to exit the Spanish market.
Read MoreThe $4.5 billion acquisition of Jacobs ECR 16 months ago has paid off for resources engineering and services group Worley in the year to June.
Read MoreThe COVID-19 sales boom goes on for Metcash, the country’s third-largest supermarkets and liquor business and second-ranking hardware retailer.
Read MoreKerry Stokes’ master company, Seven Group Holdings has delivered a 12% rise in full-year revenue to $4.56 billion, thanks to the boom in iron ore spending in WA which saw big benefits for its Caterpillar equipment business and its work associated with the mining industry.
Read MoreGlobal ratings agency Moody’s has joined the Commonwealth Bank in cutting its growth forecasts for the Australian economy this year. But the ratings group instead sees a strong pace of expansion in 2021.
Read MoreThe about to be splitting of Apple shares via a reverse four for one division has triggered a historic change in the Dow Jones average – oil giant Exxon Mobil is out, as is drug group, Pfizer and defence manufacturer Raytheon Technologies.
Read MoreThe impact of the continuing Victorian lockdowns showed up in the jobs market in a more decisive way in early August while early trade data for July shows a big jump in imports, a worrying dip in exports but yet another trade surplus – the 32nd in a row.
Read MoreAustralian jobs are under more pressure and the impact of the lockdowns across Victoria has seen the CBA’s chief economist Stephen Halmarick warn that the economy will take much longer to regain its pre-COVID-19 pandemic levels at the start of 2020.
Read MoreAs expected Australia’s largest shopping mall owner Scentre Group (owner of the Westfield chain of shopping malls) has reported a massive loss for the six months to June 30 after a savage write down in the value of its centres brought on by COVID-19.
Read MoreNo final payout for shareholders from vitamins and health supplements company Blackmores which is looking to cut about 10% of its workforce after revealing a forecast slump in net profit for the year to June.
Read MoreAnother very weak result from Seven West Media for the year to June will see shareholders go without any dividends for the third year in a row.
Read MoreWomen’s fashion retailer Mosaic Brands has sprung a major shock in its 2019-20 results by revealing a wide-ranging restructuring program that will see up 500 outlets shut, with hundreds of jobs to go as a result.
Read MorePersonal protective equipment manufacturer Ansell will lift its dividend for the 17th year in a row thanks to the impact of COVID-19 on its expanding range of PPE products (especially gloves and protective suits).
Read MoreOil Search has completed the bad news from the ASX’s oil and gas sector with news of an 85% slump in interim profit and no dividend for the six months to June.
Read MoreGlobal plumbing and kitchen supplies group, Reliance Worldwide revealed better than expected 2019-20 figures on Monday, prompting a near 18% surge in the share price by the close.
Read MorePerth-based shipbuilder Austal will pay an annual total dividend of 8 cents a share after revealing record revenues and profit for the year to June.
Read MoreAs expected Brisbane-based Super Retail Group has been another retail group to have a ‘good’ pandemic. Like a host of other retailers, Super Retail has performed well because its chains were able to continue trading during lockdown and demand increased for things like home gym equipment, car products, and camping goods.
Read MoreStruggling US and Australian building supplies company Boral has given shareholders the bad news early about its weak financial state.
Read MoreAs widely forecast Australia’s third iron ore exporter Fortescue will pay a $A1 final dividend (fully franked) after a year of bumper demand from Chinese steel mills and 6 year plus highs for global iron ore prices that sent earnings soaring to record levels.
Read MoreAMP shares edged up yesterday in the wake of the shock exit of chairman David Murray and board room supporter, John Fraser, the former head of Federal Treasury.
Read MoreUS shares rose 0.7% last week to a new record high and Chinese shares rose 0.3% but Eurozone shares fell 1.2% and Japanese shares lost 1.6% after strong gains in the previous week. Australian shares eased 0.2% after a 0.14% dip on Friday.
Read MoreNew ABS data shows July’s retail sales rising 3.3% from June to be up a massive 12% from July 2019. That’s the strongest annual sales growth since June 2000, just before the introduction of the GST.
Read MoreA stronger US dollar hit commodity prices late last week. Comex gold futures eked out a tiny gain on Friday to halt a third consecutive daily fall, but the rise for the day wasn’t enough to avoid the first back-to-back weekly declines since the COVID-19 pandemic began in March.
Read MoreThe second busiest June 30 reporting period is ahead of us this week with 41 ASX 200 companies due to report. Fortescue and Super Retail Group, Ansell, Oil Search, Scentre and Stockland, Adelaide Brighton and Worley Parsons, Flight Centre and Nine, Harvey Norman, Boral and Woolworths.
Read MoreThe run-up to Australia’s GDP figures for the June quarter starts later this week with construction work and private investment data that will be terrible. The Australian June half profit reporting season will basically wrap up with 41 major companies reporting this week.
Read MoreBrisbane-based Suncorp has joined the dividend slashing club as the COVID-19 pandemic, lockdowns and bushfires saw earnings fall by a third in the year to June.
Read MoreMelbourne-based packaging business Orora (the rump of Amcor) will make another buyback of up to 10% at cost of $230 million in the wake of a solid full-year result for 2019-20. The buyback is the second from the company rewarding shareholders with the $1.55 billion profit from the sale of its Australian Fibre business in April.
Read MoreLike Santos, Coca Cola Amatil has attempted to keep faith with shareholders after a difficult six months by agreeing to a reduced interim dividend. The company will pay a first-half dividend of 9 cents per share, down from 25 cents a year ago.
Read MoreAs forecast, two more oil and gas players have revealed massive slides in earnings – Origin Energy (full year) and Santos (half-year). Santos will still pay a small interim dividend despite a big half-year loss. Meanwhile, Origin Energy just missed the red ink when it reported a 93% plunge in earnings for the year.
Read MoreQantas big loss was probably the most expected result for the June 30 financial year thanks to the impact of COVID-19, the lockdowns and border closures, and well-paced trading updates from the airline’s board and management.
Read MoreWhile its Bunnings and Officeworks chains have had a good pandemic, a write-down on the value of its struggling target chain saw Wesfarmers report lower earnings for the year to June.
Read MoreGee, that didn’t last long. Apple briefly became a $US2 trillion company on Wall Street on Wednesday.
Read MoreTwo solid results from growth stocks yesterday – Wisetech and A2Milk – drew very different reactions from investors. Shares in Wisetech, the logistics software group with global ambitions soared by more than 37%, but for the a2 Milk, a bit of a thumbs down as the shares fell more than 6% in the wake of the release of the 2019-20 results.
Read MoreThumbs up from investors for CSL’s latest full-year results and confident outlook for the 2020-21 financial year. Australia’s global pharma giant said yesterday it is looking for an 8% rise in earnings for 2020-21 after reporting record sales and a record dividend for 2019-20, despite all the uncertainties caused by the COVID-19 pandemic.
Read MoreOZ Minerals enjoyed the surge in gold prices to June 30 more than the more sedately performing price of copper in the six months to June 30 while Perth-based Mineral Resources can thank a major asset sale, along with the rise in iron ore prices for its sharp rise in statutory profit for the year to June 30.
Read MoreLike many of its rivals, discount retailer The Reject Shop has had a good pandemic using the surge in demand from consumers to haul itself back into profit in the year to June.
Read MoreUnlike its larger rival, Westpac, the ANZ Bank revealed that it will pay shareholders an interim dividend – 25 cents a share – reversing the deferral decision taken several months ago at the height of the initial surge in COVID-19 infections and lockdowns.
Read MoreCoronavirus has, for the time being, driven the destruction of profits at the country’s gambling giants, as reports from Tabcorp and Crown resorts confirmed. Tabcorp revealed an $870 million net loss, while the James Packer dominated Crown Resorts also saw its performance whacked lower by the pandemic and subsequent lockdowns and travel restrictions.
Read MoreWall Street’s key index, the S&P 500 closed at a record high on Tuesday, completing a rebound from the huge losses of February and March triggered by the coronavirus pandemic and fears of a deep recession.
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