Here are the headlines from the S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) and Australian finance circles on Monday morning.
But first, here are the data points:
Australian Dollar ($A) (AUDUSD): 74.22 US cents
Dow Jones (DJI): flat
Oil (WTI): $US70.31 per barrel
Gold: $US1,231 per ounce
Australian Investing News
Making finance news, Australian investors have had the weekend to digest some public filings made on Friday evening, including Cimic Group Ltd’s (ASX: CIM) announcement that it and John Holland, which are partners in CPB Contractors, have been named the Victorian Government’s preferred party to develop $1 billion of works in support of the $11 billion Metro Tunnel Project in Melbourne’s CBD.
“Investment in major rail infrastructure in Victoria is providing CIMIC Group and CPB Contractors with a strong pipeline of opportunities, and it is our privilege to be delivering these significant works to support this city shaping public transport initiative,” CIMIC Group’s CEO Michael Wright said.
Also releasing an announcement on Friday evening after the market’s close was Galaxy Resources Limited (ASX: GXY). The West Australian lithium producer released its quarterly production report for the period to June 30th revealing production of 47,901 tonnes of concentrate. Galaxy said its average cash margin was $US534 per dry tonne sold.
Technology services business Empired Ltd (ASX: EPD) reported its 2018 unaudited results showing a 4% increase in revenue and an underlying EBITDA result of $17 million, which was up 10% according to the company. Click here for a definition of EBITDA.
Looking towards its 2019 financial year, Empired said its base of contracted work, “underpins expected double-digit Revenue, EBITDA, NPAT and EPS growth.”
In an announcement this morning, Mayne Pharma Group Limited (ASX: MYX) said it will buy Efudex(R) from Spear Pharmaceuticals Inc for up to $US30 million. CEO Scott Richards said the deal will, “strengthen Mayne Pharma’s position in the US dermatology market.”
Retirement home business Estia Health Ltd (ASX: EHE) announced Ian Thorley, who is currently the group’s Deputy CEO and COO, would take the reigns as group CEO when Norah Barlow steps down in November.
“Estia has gone from strength to strength under Norah’s leadership,” Chairman Gary Weiss said. “She took
the helm at a challenging time for the company and implemented a number of significant operational changes that have been in many ways transformative.”