The central argument of our thesis on CBA has been the stock would lose most of its premium to its major bank peers as ANZ and National Australia Bank derisked and improved their profitability by correcting their strategic mistakes (eg. divesting non-core businesses), managing their capital more efficiently and resuming... Show More
The market is littered with the corpses of over-geared, would-be consolidators that grew too fast and didn’t fully integrate acquisitions along the way. You needn’t even stray outside of the telco sector to find a recent and very public example in Vocus Group (ASX:VOC). You would therefore be forgiven for... Show More
The FNArena Reporting Season Monitor takes the form of a spreadsheet that contains ratings and consensus price target changes along with brief summaries of the collective responses from FNArena database brokers for each individual stock. To access the final spreadsheet providing coverage of all 310 stocks that we have monitored... Show More
Emeco leases heavy earthmoving equipment to mining companies and their contractors. It is the largest company of its type in Australia. With mining activity beginning to pick up again, the demand for “yellow” trucks, diggers and dozers is picking up. Show More
We think the single best result from this reporting season was Australian Finance Group (AFG), which delivered a 33% increase in underlying NPAT and a 15% increase in dividend. Show More
In the final edition of our results coverage, we hear from three contributors about their stand-out results for the period. Responses come from Simon Shields, Monash Investors; Alex Shevelev, Forager Funds; and Romano Sala-Tenna, Katana Asset Management. Results have now wrapped up for financial year 2017 and it was a mixed... Show More
Citadel Group (ASX: CGL) is a leader in the development and delivery of managed service solutions to a range of government departments and private sector businesses. We believe CGL’s competitive edge is their expertise and deep experience in ‘managing knowledge in complex environments through integrating know-how, systems and people to... Show More
Specialty retailer, Harvey Norman (HVN) posted a record and above consensus 28% lift in annual profit to $449m. The result was driven by demand for furniture thanks to record low interest rates, a strong Australian property market, and favourable property revaluations. and was boosted by the collapse of Dick... Show More
In this final reporting season update, we provide first impressions on key takeouts from Harvey Norman Holdings (HVN) with a link through to the more detailed report. Show More
In this daily reporting season update, we provide first impressions on key takeouts from companies reporting today, including Ramsay Health Care (RHC) and Boral (BLD) with links through to more detailed reports. Show More
Local market fell on the open and then made a slight recovery as North Korean missile test launch through Japanese airspace killed off the weak overnight global market sentiment. North Korean launched another test missile through Japanese airspace according to South Korea…more ammunition for risk off trade to remain in... Show More
In this daily reporting season update, we provide first impressions on key takeouts from companies reporting today, including Caltex Australia (CTX), Scottish Pacific Group (SCO) and Downer EDI (DOW) with links through to more detailed reports. Show More
Fuel supplier and retailer, Caltex (CTX) posted a 21% lift in Replacement Cost Operating Profit (RCOP) to $307m for the six months ended 30 June 2017. This was at the top-end of guidance provided 22 June 2017 by the company of between $290m - $310m and largely in-line with... Show More
Local market fell on the open and then traded sideways with weak global sentiment. The commodities remain strong on the back of China optimism…Shanghai index delivered another new high since 2015. Iron Ore continues to baffle analyst by moving higher while the Texas natural disaster playing into Oil optimism. Jackson... Show More
In this daily reporting season update, we provide first impressions on key takeouts from companies reporting today, including Lendlease Group (LLC) and Spark Infrastructure (SKI) with links through to more detailed reports. Show More
The FNArena Reporting Season Monitor takes the form of a spreadsheet that contains ratings and consensus price target changes along with brief summaries of the collective responses from FNArena database brokers for each individual stock. Show More
Medibank Private Limited (MPL) reported group net profit of $449.5 million, better than markets had expected for the 2017 financial year. The headline result was boosted by stronger investment returns helping to offset lower revenue from its Medical health division. Medibank’s full year result was impacted by a fall... Show More
Qantas Airways’ (QAN) 8.5% slide in its annual underlying profit to $1.4bn was the flagship airline’s second biggest in its near 100-year history, was largely in-line with analyst expectations and slightly above guidance provided in early May. The result was boosted most by the strengthening of its domestic business... Show More
Energy producer, Santos Limited (STO) reported a net profit of US$156 million for the first half of 2017 against a US$5 million loss in 2016. The company has been in a rebuilding phase over the last 18 months and is well on the way to meeting its renewed strategy under... Show More
In this short video we discuss the dominant themes to emerge from the current earnings season, including Telstra’s decision to pare back its future dividends. Additionally we talk about factors that have led to the underperformance of QBE Insurance & Ansell’s results and how the group will redefine its growth... Show More