Virgin Australia Holdings Ltd (VAH):
Virgin Australia's board and major investors have decided not to take the company private but small investors stuck in the stock will be offered a way out via a share buyback. Virgin said on Wednesday that the board had examined a privitisation but had decided to retain its ASX listing and focus on building on its performance. But chairman Elizabeth Bryan said the company was aware of the issues facing smaller shareholders who remained in a stock with a small free float. There are around 21,000 so-called unmarketable parcels of shares worth less than $500. Virgin also announced on Tuesday a 142.3 per cent jump in underlying profit to $102.5 million, it's best first half profit in 10 years.
Ramsay Health Care Ltd (RHC):
Australia's largest private hospital operator, Ramsay Health Care, said its first-half net profit fell, hurt by major restructuring at its French operations, that includes job cuts over three years. Net profit fell 3.7 per cent to $246.54 million in the six months ended December 31 from $255.95 million in the year-earlier period. Core net profit rose 7.5 per cent to $287.97 million from $267.82 million, the company said in a statement to the Australian stock exchange. Revenue rose 3 per cent to $4.448 billion from $4.318 billion in the year-earlier period. Ramsay will pay a 57.7¢ fully franked interim dividend on March 29, an 8.5 per cent increase from the year-earlier payout.
Capitol Health Ltd (CAJ):
Capitol Health has indicated it is unlikely to extend its $300 million bid for rival Integral Diagnostics beyond March, as the diagnostic imaging group upgraded its earnings guidance for the second half of the year based on a stable operating environment, cost cutting and integrating acquisitions. Managing director Andrew Harrison said the company, which declared an interim dividend of 0.4¢ a share, expected the interim result and outlook will "give our share price a little more strength". Capitol raised its 2017-18 revenue range to between $129 million and $132 million, forecasting earnings before interest, tax, depreciation and amortisation and before acquisition costs to between $23 million and $25 million, from its previous guidance of between $21.4 million and $23.5 million.
Noni B Ltd (NBL):
Womenswear retailer Noni B has rewarded shareholders with a bumper 9¢ a share interim dividend after its net profit rose more than fourfold to $11.8 million in the December-half. The result was marginally ahead of consensus forecasts around $11.6 million and compared with a net profit of $2.5 million in the first half of 2017. While rival womenswear retailer Specialty Fashion Group struggles to stay afloat and PAS Group's sales and earnings went backwards, Noni B went from strength, buoyed by the acquisition of James Packer's Pretty Girl Fashion Group in 2016, strong online sales growth and new stores.
GetSwift Ltd (GSW):
GetSwift said today that it has been served with a notice to produce documents to ASIC. It has informed the regulator that it will comply with the notice and fully cooperate so that its investigation may be completed swiftly. GetSwift shares plummeted 55 per cent on Feb 19 after the logistics software maker told the market that less than half its announced contracts had progressed to a revenue generating stage. This exacted pain on Fidelity International and the other investors who bought GetSwift shares at $4 in a December capital raising of $75 million, lead-managed by Aesir Capital, whose research arm had previously issued a "buy" rating for the last-mile software maker. In releases accompanying its reinstatement to the Australian Securities Exchange, GetSwift founder and managing director Joel McDonald said PwC's review of its continuous disclosure policies was ongoing, however the company was "comfortable" that it was now compliant with "listing rule 3.1", which covers disclosure obligations.
Harvey Norman Holdings Ltd (HVN):
Harvey Norman shares fell 13.8 per cent after it revealed that its December-half net profit slumped 19.3 per cent to $207.7 million as operating losses and impairments at non-core dairy operations exacerbated weaker earnings from Australian franchisees. Underlying net profit before asset impairments, property revaluations and dairying losses for the six months ending December rose a modest 1.4 per cent to $209.42 million, falling well short of market consensus forecasts around $217.0 million. Harvey Norman wrote down its 49.9 per cent in Coomboona, a dairying joint venture, by $20.7 million after booking equity accounted trading losses $4.6 million. Harvey Norman also revealed it was in dispute with its Coomboona JV partner over the repayment of $18.5 million in debt.
Retail Food Group Ltd (RFG):
Troubled food and coffee franchisor Retail Food Group has gone into a trading halt after its auditors were unable to sign off on the December-half accounts before February 28, the last day of reporting season. Retail Food Group, which owns chains including Donut King, Gloria Jean's, Brumby's Bakery and Michel's Patisserie, requested the trading halt on Wednesday morning, saying it was waiting for its auditors to report on the December-half results. Retail Food Group was originally due to release its interim results last Thursday and the week-long delay suggests that the auditors may have significant concerns about the accounts. RFG believes the auditors report may not be issued until March 2. If RFG fails to lodge its half-year results by March 1 the shares will be suspended. RFG reiterated that statutory net profit for the six months ended December 31 was likely to be materially less than the result in the year-ago period.
Bega Cheese Ltd (BGA):
Food company Bega Cheese declined 4.9 per cent after it released first-half results this morning. Bega's revenue for the half rose 14 per cent to $705.2 million, while after tax profit climbed 31 per cent to $20.6 million. The company will pay an interim dividend of 5.5 cents per share. Bega confirmed that its milk intake in northern Victoria had risen substantially in the December half, due to a combination of better seasonal conditions and more farmers supplying Bega after moving from other processors.
Pilbara Minerals Ltd (PLS):
Pilbara Minerals rallied 13.6 per cent after South Korean steelmaker POSCO said it will buy up to 240,000 tonnes of lithium concentrate a year from the Australian miner. As part of the deal, the Australian unit of POSCO will also acquire a 4.75 per cent stake in Pilbara for A$79.6 million ($62.49 million). POSCO also agreed to acquire convertible bonds worth about A$79.6 million that can be turned into another stake in Pilbara. Pilbara plans to take a 30 per cent stake in POSCO's planned future lithium factory. POSCO has yet to disclose a timetable or location for that facility.
(Source: AIMS)
Virgin Australia's board and major investors have decided not to take the company private but small investors stuck in the stock will be offered a way out via a share buyback. Virgin said on Wednesday that the board had examined a privitisation but had decided to retain its ASX listing and focus on building on its performance. But chairman Elizabeth Bryan said the company was aware of the issues facing smaller shareholders who remained in a stock with a small free float. There are around 21,000 so-called unmarketable parcels of shares worth less than $500. Virgin also announced on Tuesday a 142.3 per cent jump in underlying profit to $102.5 million, it's best first half profit in 10 years.
Ramsay Health Care Ltd (RHC):
Australia's largest private hospital operator, Ramsay Health Care, said its first-half net profit fell, hurt by major restructuring at its French operations, that includes job cuts over three years. Net profit fell 3.7 per cent to $246.54 million in the six months ended December 31 from $255.95 million in the year-earlier period. Core net profit rose 7.5 per cent to $287.97 million from $267.82 million, the company said in a statement to the Australian stock exchange. Revenue rose 3 per cent to $4.448 billion from $4.318 billion in the year-earlier period. Ramsay will pay a 57.7¢ fully franked interim dividend on March 29, an 8.5 per cent increase from the year-earlier payout.
Capitol Health Ltd (CAJ):
Capitol Health has indicated it is unlikely to extend its $300 million bid for rival Integral Diagnostics beyond March, as the diagnostic imaging group upgraded its earnings guidance for the second half of the year based on a stable operating environment, cost cutting and integrating acquisitions. Managing director Andrew Harrison said the company, which declared an interim dividend of 0.4¢ a share, expected the interim result and outlook will "give our share price a little more strength". Capitol raised its 2017-18 revenue range to between $129 million and $132 million, forecasting earnings before interest, tax, depreciation and amortisation and before acquisition costs to between $23 million and $25 million, from its previous guidance of between $21.4 million and $23.5 million.
Noni B Ltd (NBL):
Womenswear retailer Noni B has rewarded shareholders with a bumper 9¢ a share interim dividend after its net profit rose more than fourfold to $11.8 million in the December-half. The result was marginally ahead of consensus forecasts around $11.6 million and compared with a net profit of $2.5 million in the first half of 2017. While rival womenswear retailer Specialty Fashion Group struggles to stay afloat and PAS Group's sales and earnings went backwards, Noni B went from strength, buoyed by the acquisition of James Packer's Pretty Girl Fashion Group in 2016, strong online sales growth and new stores.
GetSwift Ltd (GSW):
GetSwift said today that it has been served with a notice to produce documents to ASIC. It has informed the regulator that it will comply with the notice and fully cooperate so that its investigation may be completed swiftly. GetSwift shares plummeted 55 per cent on Feb 19 after the logistics software maker told the market that less than half its announced contracts had progressed to a revenue generating stage. This exacted pain on Fidelity International and the other investors who bought GetSwift shares at $4 in a December capital raising of $75 million, lead-managed by Aesir Capital, whose research arm had previously issued a "buy" rating for the last-mile software maker. In releases accompanying its reinstatement to the Australian Securities Exchange, GetSwift founder and managing director Joel McDonald said PwC's review of its continuous disclosure policies was ongoing, however the company was "comfortable" that it was now compliant with "listing rule 3.1", which covers disclosure obligations.
Harvey Norman Holdings Ltd (HVN):
Harvey Norman shares fell 13.8 per cent after it revealed that its December-half net profit slumped 19.3 per cent to $207.7 million as operating losses and impairments at non-core dairy operations exacerbated weaker earnings from Australian franchisees. Underlying net profit before asset impairments, property revaluations and dairying losses for the six months ending December rose a modest 1.4 per cent to $209.42 million, falling well short of market consensus forecasts around $217.0 million. Harvey Norman wrote down its 49.9 per cent in Coomboona, a dairying joint venture, by $20.7 million after booking equity accounted trading losses $4.6 million. Harvey Norman also revealed it was in dispute with its Coomboona JV partner over the repayment of $18.5 million in debt.
Retail Food Group Ltd (RFG):
Troubled food and coffee franchisor Retail Food Group has gone into a trading halt after its auditors were unable to sign off on the December-half accounts before February 28, the last day of reporting season. Retail Food Group, which owns chains including Donut King, Gloria Jean's, Brumby's Bakery and Michel's Patisserie, requested the trading halt on Wednesday morning, saying it was waiting for its auditors to report on the December-half results. Retail Food Group was originally due to release its interim results last Thursday and the week-long delay suggests that the auditors may have significant concerns about the accounts. RFG believes the auditors report may not be issued until March 2. If RFG fails to lodge its half-year results by March 1 the shares will be suspended. RFG reiterated that statutory net profit for the six months ended December 31 was likely to be materially less than the result in the year-ago period.
Bega Cheese Ltd (BGA):
Food company Bega Cheese declined 4.9 per cent after it released first-half results this morning. Bega's revenue for the half rose 14 per cent to $705.2 million, while after tax profit climbed 31 per cent to $20.6 million. The company will pay an interim dividend of 5.5 cents per share. Bega confirmed that its milk intake in northern Victoria had risen substantially in the December half, due to a combination of better seasonal conditions and more farmers supplying Bega after moving from other processors.
Pilbara Minerals Ltd (PLS):
Pilbara Minerals rallied 13.6 per cent after South Korean steelmaker POSCO said it will buy up to 240,000 tonnes of lithium concentrate a year from the Australian miner. As part of the deal, the Australian unit of POSCO will also acquire a 4.75 per cent stake in Pilbara for A$79.6 million ($62.49 million). POSCO also agreed to acquire convertible bonds worth about A$79.6 million that can be turned into another stake in Pilbara. Pilbara plans to take a 30 per cent stake in POSCO's planned future lithium factory. POSCO has yet to disclose a timetable or location for that facility.
(Source: AIMS)
Latest comments