Reporting season: All the latest news from companies releasing financial results to the ASX today
It was a brutal day for one of the country’s biggest retailers yesterday, with one of the big four banks also feeling the sting of investor disappointment.
It was a brutal day for one of the country’s biggest retailers yesterday, with one of the big four banks also feeling the sting of investor disappointment.
JB Hi-Fi boss Nick Wells said trading had “got a little bit harder” since July, pointing to higher interest rates, the Federal Budget and a softer housing market as customers became more cautious. He also noted wary shoppers were increasingly seeking out value and only opening their wallets during promotions.
National Australia Bank told much the same story as its three major rivals, with home loan applications down 15 per cent in the June quarter. It also echoed warnings last week of slowed demand from CBA and Westpac.
Today, it’s the first of the bellwether miners to step up to the microphone and spill the beans on its finances. With a well-flagged warning about copper production, expect fireworks.
Also up today is fellow market heavyweights CSL and Cochlear, along with Challenger, Reliance Worldwide, HUB24 and Sims.
Stay with us as we bring you all the latest throughout the day.
Daniel Newell is reporting live.
Record revenue for Macmahon lifts payout
Macmahon is powering ahead into “another strong year” after this morning reporting record revenue and underlying earnings for the past financial year.
The Perth-based contractor brought in $2.6 billion in the year to June 30, up 8 per cent on a year earlier.
Underlying earnings before interest, tax, depreciation and amortisation came in at $393.8 million — up 2 per cent and delivering a statutory net profit of $101.1m, which was up 37 per cent.
“Macmahon delivered a strong financial performance in FY26 with continued growth in revenue and underlying earnings, while reducing net debt and increasing returns to shareholders,” said managing director Michael Finnegan.
“This is the 10th consecutive year we have met or exceeded market guidance.”
Macmahon will pay an improved final dividend of 1.25¢ a share, bringing the pull-year payout to 2.2¢ — up 47 per cent.
The company’s order book now stands at $5.9b, with significant exposure to booming metals gold, copper and lithium “which are benefiting from positive investor sentiment and investment by mining companies”.
It is targeting FY27 revenue of between $2.85b and $3.05b.
It was holding cash of $310m at June 30.
Read more here ...
While you were sleeping ...
Wall Street’s three major indices finished lower overnight as investors wait for quarterly reports from large retailers to provide insights into US consumer spending while oil prices rose as the US and Iran appeared no closer to a deal.
Oil futures settled up more than $US2 per barrel as investor pessimism about diplomatic efforts to resolve the Iran war fanned global supply worries.
The gain in oil provided support for the energy index, which finished up 0.87 per cent and was the sole gainer among the S&P 500’s 11 major industry sectors.
Investors, with July’s weak retail sales and jobs data fresh in their minds, were cautious as they waited for quarterly results from retailers.
“Concerns about recent softer data have the market being a bit tepid and waiting for retail earnings for direction,” said Phil Blancato, chief market strategist at Osaic Wealth, who added that volume is often weak in August, when many traders take holidays.
“There’s a combination of summer doldrums and waiting for data on the consumer.”
The Dow Jones Industrial Average fell 272.63 points, or 0.51 per cent, to 53,459.78, the S&P 500 lost 40.70 points, or 0.52 per cent, to 7745.06 and the Nasdaq Composite lost 84.25 points, or 0.31 per cent, to 26,644.91.
Read the full report ...
ICYMI
If you managed to take a long weekend ands it’’s your first day back, we’ve got you covered. Here’s what you missed yesterday ...
Originally published on The West Australian
