Here are the headlines from the S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) and Australian finance circles on Wednesday morning.
But first, here are the data points:
Australian Dollar ($A) (AUDUSD): 73.61 US cents
Dow Jones (DJI): up 0.2%
Oil (WTI): $US67.32 per barrel
Gold: $US1,202 per ounce
Australian Investing News
Making finance news today are a host of ASX 200 companies which report their financial results as part of Reporting Season.
Seven Group Holdings Ltd (ASX: SVW) released its 2018 financial report showing a 40% jump in revenue and a profit of $413 million. A final dividend of 21 cents per share will be paid, matching the half-yearly dividend already paid.
“We are pleased to report underlying EBIT exceeding our recently upgraded guidance, again demonstrating the growing strength of our industrial services and energy businesses,” Ryan Stokes CEO of Seven Group said.
“Our relentless focus continues to be on driving further operational performance through harnessing our people, systems and technology to provide the best products and services to our customers.”
Dairy business The a2 Milk Company Ltd (ASX: A2M) released its 2018 report showing a 68% increase in revenue and a profit of $NZ196 million, up 115% over the prior year’s result.
“The Company’s financial results maintained a very strong trajectory, with a revenue increase of 68% and with operating earnings up by 101%,” CEO Jayne Hrdlicka said.
“Significant progress has been achieved in Australia, China and the USA and important emerging market opportunities are starting to materialise.”
Read more: a2 Milk shares jump on profit result
Travel brand Corporate Travel Management Ltd (ASX: CTD) reported a14% rise in revenue to $371 million and a profit increase of 41%. CEO Jamie Pherous said each of the company’s core divisions reported growth.
“These results support the strategy that we have taken to build a global network and apply the CTM business model around winning and retaining customers, driving internal automation and client innovation and ensuring high staff engagement and client satisfaction,” Pherous said.
Corporate Travel announced it will pay a final dividend of 21 cents per share.
Read more: Corporate Travels Blue Skys
Bapcor Ltd (ASX: BAP), the owner of Autobarn and Bursons, released its report revealing a 22% increase in revenue and a 27% increase in pro-forma profit following the acquisitions of New Zealand’s Hellaby Holdings Limited.
Vocus Group Ltd (ASX: VOC), the company behind the internet brands like Dodo, Primus and Commander, reported a 4% rise in revenue and an underlying profit of $127 million, down 17%. No dividend was declared.
“The result has been achieved during a period of significant internal change and challenging market conditions,” Vocus CEO Kevin Russell said. “Vocus’ primary focus going forward is growth… My key immediate priority is building the right team.”
Finally, Sydney Airport Holdings Ltd (ASX: SYD) reported an 8% increase in revenue to $770 million and a final distribution/dividend of 18.5 cents per share, up 12%.
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