Oil Search Profit Slips, Dividend Slashed
Like its peers, Woodside (WPL) and Santos (STO), Oil Search (OSH) saw its first-half profit fall sharply in the face of the full impact of depressed oil and gas prices.
Read MoreLike its peers, Woodside (WPL) and Santos (STO), Oil Search (OSH) saw its first-half profit fall sharply in the face of the full impact of depressed oil and gas prices.
Read MoreA lift in sales of premium fuels (as consumers move away from cheap ethanol blends and basic unleaded petrol types) assisted Caltex Australia (CTX) in offsetting the squeeze on earnings from a falling profit margins from its refinery in Brisbane.
Read MoreUnderperforming engineering group Bradken (BKN) didn’t disappoint investors bearish on the stock when it produced yet another poor financial year report yesterday thanks to the continuing impact of the downturn in spending in the resources sector.
Read MoreA year ago, Healthscope (HSO) surprised investors by producing a disappointing full year earnings performance that missed its own guidance. That sent the shares down 5% to just under $2.50.
Read MoreReality has caught up with Prime Media Group (PRT), the Seven network’s regional affiliate in parts of Australia in the 2015-16 financial year.
Read MoreShares in jewellery retailer, Lovisa (LOV), fell 8% at one stage yesterday after it once again disappointed investors with a weak result.
Read MorePerth-based engineering contractor Monadelphous’s (MND) 2015-16 performance got a very solid thumbs down from unimpressed investors yesterday with the shares losing more than 17% by the close.
Read MoreVeterinary and pet shop chain Greencross (GXL) disappointed investors at first yesterday, despite reporting a solid performance for the year to June with the results boosted by acquisitions, as expected.
Read MoreAll good things must come to an end in the stockmarket. We have seen it with resources stocks, retailers, dairy companies and now the great China vitamin boom is on the verge of deflating, judging by the reception given to the 2015-16 profit report and outlook from market darling, Blackmores (BKL).
Read MoreIt looks as though APN News and Media (and its biggest shareholder, News Corp) and Fairfax Media will have to wait until well into early 2017 for a decision from NZ regulators about their proposed print, radio and digital website merger which would see the Kiwi print interests of Fairfax and the various websites backed, into NZME, the APN print and Radio spin off.
Read MoreAPN Outdoor shares plunged more than 38% at one stage yesterday, despite lifting interim profit 51%. The company, a spin off from APN News and Media, saw its shares belted lower after investors were disappointed by a lowered outlook for the six months to December (the company has a calendar financial year).
Read MoreBlueScope Steel’s strong earnings surge in 2015-16 had long been forecast by the company, so it was no surprise when the steelmaker revealed its final figures for the year to June yesterday.
Read MoreFortescue Metals Group topped market forecasts on its final dividend payout, and easily met profit hopes from investors for the year to June 30.
Read MoreShareholders in engineering services group UGL have had a couple of near death experiences in the past couple of years as its finances have been battered by write-downs and the poor performance generally of contracts in the development of the multi-billion dollar Ichthys liquefied natural gas project off the coast of northern Western Australia.
Read MoreOnline jobs group, SEEK is looking at a 10% boost to earnings this financial year after reporting its strongest domestic full-year revenue growth in five years in the year to June.
Read MoreInsurer, IAG has revealed modest expectations for 2016-17 with anticipated small gains for its home and car insurance offerings expected to be held back by rising costs in the NSW compulsory third party sector and a difficult commercial insurance market (both of which proved a headache for rival QBE).
Read MoreThe Australian June quarter earnings reporting season hits its biggest week with 87 major companies due to report full year or interim figures.
Read MoreAs expected the bottom lines of Woodside Petroleum (WPL) and Santos (STO) both suffered thanks to volatile oil prices in the six months to June (that volatility has continued into the second half of the 2016 year).
Read MoreIt’s the usual quiet week of the month where the flow of data dips (the so-called ‘flash’ reports on manufacturing activity are the only global data of any note), the earnings season in the US, Europe and Asia is running down, but for Australia its the busiest week of all in our June 30 reporting season.
Read MoreAre we seeing the second ’next fool’ rally in oil in three months?
Read MoreUS shares were mostly flat to down over the last week and in fact ended trading on Friday off the pace and looking a touch fragile.
Read MoreAccording to the stockmarket, investors have found the first major UK victim of the downturn in print – no its not the Independent newspaper’s two editions – weekday and Sunday – we are talking about a listed entity where the market reckons there’s no hope for survival, other than collapse, investor wipeout and radical restructuring.
Read MoreCredit rating group, Moody’s Investors Service has revised its outlook on Australia’s banks to negative, warning that their profit growth could be hit by to weak wage growth, low interest rates, strong lending competition and rising household debt.
Read MoreBad luck for Australia’s big four banks, plus Macquarie and a host of other international banks? A US court action has extended the potential for costly damages claims over rigging claims of a key Australian bank bill rate.
Read MoreLike Webjet and a couple of other companies, investors have known that Treasury Wine Estates (TWE) would be reporting a very strong profit for the year to June 30, but even after doing that, the market found something more to enthuse about and bid the shares up more than 11% in yesterday’s weak trading.
Read MoreThe stockmarket’s burbling and after reporting a solid 2015-126 result (when the market fell 5%), investors will be looking for the ASX Ltd to clock up another good year in 2016-17.
Read MoreAnd NSW-based Whitehaven Coal returned to a full-year profit in 2015-16, beating analyst forecasts after boosting production to new highs.
Read MoreProperty developer Villa World, has joined the much larger Mirvac and Stockland in riding the property boom in the year to June 30 – even if it was partly in the slower south east Queensland market.
Read MoreCar parts distributor and retailer Bapcor is looking for another year of strong profit growth in 2016-17 after lifting net profits by 89% to $43.6 million in the year to June 30.
Read MoreBrambles CEO, Tom Gorman announced his retirement yesterday after reporting another solid result for the country’s logistics multinational.
Read MoreAmid a flurry of solid results from mid cap stocks, a few stood out yesterday, with online travel group, Webjet justifying is market darling status of the past few months with a 20% surge in its share price.
Read MoreOrigin Energy (ORG) has followed up a warning earlier this year and scrapped its final dividend after revealing a second annual loss in a row.
Read MoreTrans-Tasman building and construction giant, Fletcher Building (FBU), has reported a 71% increase in statutory after tax profit, to $NZ462 million, meeting earnings guidance and giving shareholders a little bit more of a reward.
Read MoreProperty developer Stockland Group (SGP) expects to settle more than 6,000 residential lots in the year ahead as low interest rates help offset the economic impact of the mining downturn.
Read MoreVery different results from two major healthcare groups yesterday – Primary (PRY) reported an expected slide in earnings as previously announcement impairments and write downs hit home, while Sonic (SHL) had a record year thanks to solid performances here and offshore, helped nicely by currencies.
Read MoreBrokers and analysts are a fickle lot. On Monday in the wake of the record result and higher dividend, and hints of more to come this year, brokers were enthusiastic and some even gushed for a while before the quibbling started.
Read MoreSo the big bad BHP news is out, dividends are down, the company’s turned in a loss for the year to June (and a much smaller underlying result) and there’s a bit of gloom and doom about. So what about the next year or two?
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