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): 73.33 US cents
Dow Jones (DJI) (Friday): up 0.5%
Oil (WTI): $US68.65 per barrel
Gold: $US1,213 per ounce
Australian Investing News
Making finance news today are a host of ASX 200 companies which release their financial results as part of the last week of Reporting Season.
In an ASX filing this morning, financial technology business Netwealth Group Ltd (ASX: NWL) released its full-year financial results to the ASX, covering its 2018 year.
Netwealth reported pro forma profit of $29 million, which it says was around 73% higher than last year. Statutory profit, which includes the costs to list its shares on the ASX ($8.7 million), was $20.8 million.
Netwealth’s joint managing director, Michael Heine, said he was pleased with the first full-year results since listing, as the company seeks to be the number-one provider of financial platforms.
“Netwealth continues to be very focused on ensuring ongoing leadership in platform technology and functionality and the delivery of market leading administration and customer service,” Heine said.
For its financial year, health and aged care products seller Paragon Care Ltd (ASX: PGC) reported a 17% increase in revenue to $137 million and a profit of $11 million, up 8%.
Paragon also took the time to announce that it sell/issue $45.2 million of new shares to China’s Pioneer Pharma Holdings at $0.91 cents each, representing 15% of the company.
Paragon said the funds from the Chinese medical parts distributor will be used to, “fund near term acquisitions of complementary healthcare businesses in Australia and New Zealand.”
Construction and infrastructure business MACA Limited (ASX: MCD) reported a 13% increase in revenue and a profit of $23.6 million, down 26%. MACA said it had $1.28 billion of contracted work, up 13% year over year.
Finally, homewares business Adairs Ltd (ASX: ADH) reported a 19% increase in its 2018 financial year with a profit up 45% to $30.6 million.
“The strong result in FY18 shows that our business is back on its growth trajectory,” CEO Mark Ronan said. “Our focus on operational excellence has ensured we delivered what our customers wanted, a fashionable well co-ordinated product range via a superior retail and online shopping experience.”
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