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The ASX200 closed up half a per cent for the last day of February – and summer!
All sectors, except utilities, finished in the green. Real estate had a strong run – and was up nearly 2 per cent.
In this bulletin, we’ll look at news from South32, The Star Entertainment Group, Harvey Norman Holdings, Australian Finance Group, Booktopia, and Atlas Arteria.
In the green
South32 (ASX:S32) was up more than 4 and a half per cent on an agreement to sell Illawarra Metallurgical Coal to an entity owned by investment vehicle Golden Energy and Resources (GEAR) and M Resources.
The US$1.65 billion deal will provide South32 funds to progress zinc and copper projects – and the agreement is expected to conclude in the first half of CY 2025.
S32 closed at $2.95.
Casino and resorts giant The Star Entertainment Group (ASX:SGR) was up nearly 7 and a half per cent after beating analysts’ expectations in its half-year results.
Net revenue was down 14.6 per cent on the previous corresponding period and its EBITDA was also down 43.1 per cent.
It did, however, post a net profit of $9.1 million for the 2023 December half – after a net loss after tax of $1.26 billion the previous year.
SGR closed at 51.5 cents.
And Aussie retail staple Harvey Norman Holdings (ASX:HVN) was up nearly 5 per cent despite posting a reduction of 29.5 per cent in its profit before tax to $303.8 million.
Its EBIT was also down 39.9 per cent on the previous year.
HVN closed at $4.95.
In the red
Australian Finance Group (ASX:AFG) lost 10 per cent on its half-year results.
The company’s net profit after tax was $7.4 million – down 34 per cent.
Its interim dividend has also been cut from 6.6 cents in the previous period to 4 cents.
AFG closed at $1.49.
And online book retailer Booktopia (ASX:BKG) was down more than 8 per cent after recording a net loss after tax of A$16.7 million, compared with A$3.9 million the prior year.
The group’s revenue was also down 22 per cent to A$86.3 million.
Management says these results were heavily impacted by a large volume of one-off costs.
BKG closed at 5.5 cents.
And Atlas Arteria (ASX:ALX) shed about a per cent on its full-year results.
The tollroad group posted a 6 per cent increase in its net profit to $356.3 million. Atlas declared a total dividend of 40 cents, down .5 cents from the previous year.
ALX closed at $5.40.
That’s MC. We’ll catch you again tomorrow – Bye for now.
