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The ASX200 has closed the day trading flat.
The sectors were split, with utilities in front, up more than two per cent, while discretionary and telecommunication led the drag, shedding around half a per cent.
In this bulletin, we’ll discuss Bega Cheese, Universal Store, Brazilian Critical Minerals, Sayona Mining, MA Financial Group, Clinuvel Pharmaceuticals.
In the green
Bega Cheese (ASX:BGA) was up nearly 13 per cent on the release of its half-yearly results.
In 1H FY2024, Bega Cheese’s earnings before tax lifted to $86.1 million, a 20 per cent increase, driven by a 153 per cent surge in the Branded segment.
The Bulk segment, however, faced a $55.1 million decline due to disconnected global dairy commodity prices.
Overall, revenue exceeded $1.7 billion, with an 8 per cent growth in the Branded segment.
BGA closed the day at $4.01.
Fashion retail company Universal Store (ASX:UNI) shares were also up around 13 per cent after the company released its results for the half year.
It posted an 8.5 per cent increase in sales to $158 million and a 16.7 per cent rise in net profit after tax to $20.7 million.
UNI closed the day at $4.62.
Brazilian Critical Minerals (ASX:BCM) was up more than four and a half per cent as the company released final assay results for auger holes drilled at its Ema rare earth elements (REE) project in Brazil.
A newly identified four-square-kilometre zone with outstanding total rare earth oxide (TREO) grades exceeded 1000 parts per million and expanded the known zone to 12 square kilometres, a 54 per cent increase in the high-grade area.
A Mineral resource estimate is on track for release in the first quarter.
BCM closed the day at 2.3 cents.
In the red
Sayona Mining (ASX:SYA) was down nearly 30 per cent on the back of leading global lithium supplier Piedmont Lithium selling all the shares it held in Sayona Mining.
The company agreed to sell 1,152.2 million shares of Sayona for $0.052 per share.
Piedmont will no longer hold any shares in Sayona Mining but will have no impact on Piedmont’s joint venture or offtake position with Sayona Quebec.
SYA closed the day at 4.6 cents.
MA Financial Group (ASX:MAF) plunged 20 per cent upon the release of its financial FY23 results the company reported earnings per share were down 32 per cent on FY22 to 26.0 cents, and underlying revenue was down 11 per cent on FY22 to $270 million.
MAF closed the day at $4.47.
Clinuvel Pharmaceuticals (ASX:CUV) was down 12 per cent and this downward run continues off the back of the company’s resignation of Mr Willem Blijdorp as non-executive Director of the Company.
The company also released its results for the first half, reporting net income was $10.94 million down from $11.39 million the same time last year.
CUV closed the day at $14.32.
