Futures contracts for the S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) index are pointing to a slightly negative open on Tuesday morning, with Technology One Limited (ASX: TNE) and Healthscope Ltd (ASX: HSO) in the news.
Here’s the key headline data:
Australian Dollar ($A) (AUDUSD): 75.86 US cents
Dow Jones (DJI): up 1.2%
Oil (WTI): $US72.44 per barrel
Gold: $US1,292 per ounce
Overnight, London-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) finished 1.8% and 1.3% higher, respectively, according to Yahoo! Finance.
Australian Investing News
Making news in Australia, Brisbane-based technology business Technology One Limited released its half-year financial report to the ASX today.
For the six-month period to 31 March 2018 Technology One revealed a 6% rise in revenue and a net profit of $8.1 million, up 1% on the prior corresponding period. Technology One’s board of directors declared a partially franked interim dividend of 2.86 cents per share. Read more: Technology One Limited Exceeds HY Guidance, Dividend Up
Also in the news, currency exchange business OFX Group Ltd (ASX: OFX) filed its annual results with the market showing a 5% rise in revenue to $115 million and a profit of $19.6 million, down 5%.
“In FY18 we focused on better execution, in order to deliver on our commitments to clients and shareholders,” OFX Group CEO Skander Malcolm said.
Healthscope, the private hospital operator which finds itself the target of two takeover offers, provided an update on the potential deals. Healthscope said it will not allow either of the parties to undertake due diligence on the business as their offers undervalue the company.
Healthscope said it reviewed both offers but will now conduct its own strategic review on its hospital property portfolio to, “explore the merits of a sale and leaseback transaction with a view to unlocking value for Healthscope shareholders in the near term.”
Finally, James Hardie Industries plc (ASX: JHX) announced its preliminary financial results for its 2018 financial year showing a 7% rise in net sales but a 47% fall in net profit to $US146 million. However, on a “group adjusted net operating” basis, James Hardie said its profit rose 17% to $US291 million.
“Our North America Fiber Cement Segment for the quarter and full year delivered top line growth of 6%, driven primarily by higher net prices,” CEO Louis Gries said. “We enter fiscal year 2019 with no constraints on capacity and are focused on driving improved primary demand growth.”
James Hardie will pay a final dividend of US30 cents per security.
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