The S&P/ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open higher today, the USA’s S&P 500 Index (.INX) went down 0.26% on Wednesday.
Australian Dollar ($A) (AUDUSD): 71.17US cents
Dow Jones (DJI): down 0.05%
Oil (WTI): $US53.95 per barrel
Gold: $US1,307 per ounce
ASX Sharemarket News
In ASX sharemarket news, British bank CYBG Plc (ASX: CYB) has given its first quarter result to investors. Customer lending growth for the quarter was 1.4% to £71.9 billion with mortgage growth of 1.5% to £60 billion benefiting from a “strong pipeline” coming into the quarter and good customer retention. SME growth was 12% to £7.6 billion.
The net interest margin (NIM) in the first quarter was 1.72%, with guidance for the rest of the year for 1.65% to 1.7% due to sustained pricing competition in the UK mortgage market. Initial integration work with Virgin Money has reaffirmed the transaction benefits, the annual cost synergies is now £150 million.
CYBG Plc CEO David Duffy said: “Market conditions remain uncertain while we await the outcome of the Brexit negotiations, but we remain focussed on supporting our customers and delivering against the factors within our control.”
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Electronic donation business Pushpay Holdings Ltd (ASX: PPH) has announced some of the metrics it achieved in the quarter ending 31 December 2018. The headline is that total revenue increased by 35.2% to US$27.7 million compared to last year.
The annualised processing volume increased by 28.6% to US$5.1 billion, average revenue per customer increased by 25.6% to US$1,548 but the staff headcount only went up by 3.8% to 358 people.
Pushpay said it was both EBITDAF and cash flow positive for the December 2018 quarter (click here to learn what EBITDA is).
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Alliance Aviation Services Ltd (ASX: AQZ), the flight charter business, announced its half year result yesterday. The company grew revenue by 18% to $137.8 million, total flying hours went up 21% to 19,670 and profit after tax flew 39% higher to $9.8 million.
The balance sheet looks healthier with a $4.9 million reduction of net debt to $48.5 million and the interim dividend was increased by 172% to 6.8 cents per share.
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