ASX reporting season live updates: All the news from companies reporting their results to the market today
OK, we eased into the week yesterday. Nothing too alarming, nothing too much to worry about ... all things considered.
JB Hi-Fi delivered a solid set of full-year results but investors showed their nerves when it was announced CEO Terry Smart was unplugging from the electronics giant and would exit at the start of October.
A beefed-up final dividend and a special payout of $1 a share weren’t enough to soothe shareholders and the stock closed down more than 8 per cent. Ouch.
But it was a btter day for lithium miners after the closure of a mine in China raised hopes of improved prices for the key battery ingredient. PLS, Mineral Resources and Liontown Resources all enjoyed double-digit gains.
But the main focus was on whether the Reserve Bank would cut official interest rates today. The market seemed to think so, with the S&P-ASX200 hitting a record intraday high in early trade.
But before we get to that call, we have SGH (formerly Seven Group Holdings), Seven West Media and Life360 waiting in the wings to deliver their results.
On with the show ...
Key Events
Boral the star performer for SGH in another record year
SGH is heading towards $1 billion of annual net profit — to reach this remarkable milestone the conglomerate has bet big on Australia’s growing economy and its need for more infrastructure and housing.
SGH on Tuesday reported a 9 per cent rise in net profit after tax to $924 million for the 2025 financial year as operational cash flow surged 49 per cent to $1.95b, both of which are fresh records.
“The circa $1.9b (of operating cash) just reinforces the quality of our businesses,” SGH chief executive Ryan Stokes told The West Australian.
“Overall we feel very confident about the earnings result and how we are set up for FY26.”
Good question ...
Casino giant rolls the dice on mega precinct sale deal
Embattled casino giant Star Entertainment has struck a deal to sell off its share of a mega casino.
The group on Tuesday announced it had signed a binding long-form agreement with Hong Kong partners Chow Tai Fook Enterprises and Far East Consortium Limited to sell its share of Queen’s Wharf in Brisbane.
The partners will take over Star’s 50 per cent share after previously holding 25 per cent shares.
“The transaction involves The Star disposing of its interest in DBC (the owner of Queen’s Wharf), consolidating its position at the Gold Coast and transferring other Brisbane assets and interests held by The Star to the joint venture partners,” Star’s ASX announcement said.
The deal has been approved by US group Bally’s Corp which had previously offered $300 million to save the group from appointing administrators.
It will be completed in two stages with the exit from Queen’s Wharf first and a sunset date of November 30.
Read the full report here.
JB Hi-Fi rebounds after Monday’s rout
Shares in electronics goods retailer JB Hi-Fi have added 5 per cent in the first few hours of trade on the ASX today, climbing to $113.30.
It’s a sharp reversal from yesterday’s 8 per cent sell-off which followed the news that Terry Smart would quit the CEO’s role in October.
Among the other top-five winners of the market today were Life360 (adding 7.6 per cent), Light and Wonder (5.6 per cent), carsales.com.au owner Car Group (4.9 per cent) and Breville Group (2.1 per cent).
SGH was the market’s biggest loser so far, down 8 per cent depsite reporting a solid rise in revenue and net profit for the full year.
Liontown Resources was down 4 per cent after recording double-digit gains yesterday on news of a curb in global supply after the closure of a mine in China.
Aussie beef a hot commodity as US imports hit a high
US demand for Australian beef looks set to skyrocket as drought, disease and hefty tariffs hit other top cattle-producing countries.
Australia exported more than 43,000 tonnes of beef to the US in July, the highest volume since October 2024, according to a Bendigo Bank Agribusiness commodity report released on Tuesday.
The extra demand came at the same time as the Federal Government announced it would allow imports of US beef that had been raised in Canada or Mexico but processed in America.
Australia had faced pressure from President Donald Trump to ease the restrictions on beef as it sought exemptions from wide-ranging tariffs.
As US herd numbers continued to dwindle due to drought in 2025, Americans have also been eating beef imported from Canada and Brazil.
But with Brazil facing a 50 per cent tariff, Canada slipping further into drought and a US ban on Mexican beef due to a parasite infestation, America would have to source meat from elsewhere.
Australian beef exports to the US would likely “skyrocket” as a result, according to the commodity report.
“That is now three of (America’s) top five import markets affected due to tariffs, a reduced herd or disease,” it said.
“This presents even greater opportunities for Aussie producers as the US looks to satisfy their own domestic demand with expected falling beef production.”
AAP
ASX200 climbs to yet another record high
The S&P-ASX200 has hit yet another record intraday high - climbing to 8876.6 points in early trade.
It had dropped back to 8860.8 by 10.55 AEST.
Only five sectors were in the green, with financials, discretionary, utility, IT and telcos adding gains.
Miners were off almost one per cent, with real estate, staples and energy all marginally down.
CDC Data Centres unveils plans for $415m
A huge tech company backed by Australia’s sovereign wealth fund is planning a $415 million data centre in Maddington to chase the artificial intelligence boom.
CDC Data Centres lodged a development proposal for the 200-megawatt facility in June.
The private company — previously Canberra Data Centres — was reportedly valued at $17 billion earlier this year, roughly the size of Qantas.
Read the full report here.
Trump extends China tariff truce by 90 days
US President Donald Trump has signed an executive order extending a tariff truce with China by another 90 days, a White House official says with only hours to go before US tariffs on Chinese goods were due to snap back to triple-digit rates.
The order followed a non-committal answer by Trump to reporters as to whether he would extend the lower tariff rates a day after he urged Beijing to quadruple its purchases of US soybeans.
A tariff truce between Beijing and Washington was set to expire on Tuesday.
The order prevents US tariffs on Chinese goods from shooting up to 145 per cent, with Chinese tariffs on US goods set to hit 125 per cent, rates that would have resulted in a virtual trade embargo.
“We’ll see what happens,” Trump told a press conference, when asked how he planned to extend the deadline.
“They’ve been dealing quite nicely. The relationship is very good with President Xi (Jinping) and myself.”
Read the full report here.
NBN lifted by more people shifting to fibre from copper
Broadband wholesaler NBN Co has posted a rise in annual earnings as more Australians upgraded from aging copper technology to fibre in record numbers to connect to the internet.
The Australian government-owned entity’s earnings for 2024/25 jumped 8 per cent to $4.2 billion, in line with guidance, as revenue rose 4 per cent to $5.7b.
More than 430,000 premises were upgraded from legacy copper connections to fibre, which was more than double from 2023/24, taking the total to over 805,000.
The shift to faster speeds and full fibre connections also drove demand for higher-speed internet tiers and lifted data usage across the country.
Read the full report here.
Norwegian fund sells shares in 11 Israeli companies
Norway’s sovereign wealth fund has sold its shares in 11 Israeli companies, its managers say, a move they said reduces its holdings in the country against the backdrop of the “serious humanitarian crisis” in Gaza.
The management of the fund, which invests Norway’s profits from oil and gas, said in a statement that it had investments in 61 Israeli companies at the end of this year’s first half.
It said it decided last week to sell all its investments in 11 firms that are not in the Norwegian Finance Ministry’s equity benchmark index, and has spent recent days completing those sales.
The fund also said it will move all investments in Israeli companies that have been run by external managers in-house and is terminating contracts with external managers in Israel.
Read the full report here.
Originally published on The West Australian
