The S&P/ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open higher today, the USA’s S&P 500 Index (.INX) went up 1.35% on Tuesday.
Australian Dollar ($A) (AUDUSD): 70.99US cents
Dow Jones (DJI): up 1.40%
Oil (WTI): $US53.11 per barrel
Gold: $US1,311 per ounce
ASX Sharemarket News
In ASX sharemarket news, New Zealand based casino business SKYCITY Entertainment Group Limited (ASX: SKC) has reported its interim result for the six months to 31 December 2018.
Casino businesses show ‘normalised’ results that show the figures as if the average win rate had been achieved. Skycity’s normalised revenue grew by 10.9% to NZ$598 million, normalised EBITDA increased by 10.5% to NZ$189.1 million (click here to learn what EBITDA is) and normalised earnings per share (EPS) went up 10% to NZ14.3 cents. However, the company maintained the dividend at NZ10 cents per share.
The casino business said that the result was driven by strong performances in the international business & Auckland and positive performance in Adelaide on a like for like basis, which was offset by an increase in corporate costs.
Expert Interview: Magellan's Hamish Douglass
Macquarie Group Ltd (ASX: MQG) could also be one to watch today after it released an operational briefing yesterday. In that briefing the business said that it may be possible to achieve profit growth of up to 15% in FY19.
New CEO Shemara Wikramanayake said that the Australian-HQ’ed global investment bank is ready to invest $24 billion into global areas that are starved of capital such as renewables and infrastructure.
Carsales.Com Ltd (ASX: CAR) has also reported its FY19 half year result. It showed 17% growth of revenue to $235 million and EBITDA went up 8% to $98 million.
However, reported net profit after tax fell by 82% to $11.1 million after recognising a $47.8 million impairment with its Stratton investment reflecting ASIC’s legislative changes. Excluding the impairment, adjusted net profit after tax declined by 2% to $60.2 million.
Carsales CEO Cameron McIntyre said: “The long-term investment in our international growth strategy is generating significant upside, with excellent revenue and earnings growth recorded in our two largest investments in Korea and Brazil.”
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Disclaimer: Any information contained in this article is limited to general financial/investment advice only. The information has not taken into account your specific needs, goals or objectives, so please consider consulting a licenced and trusted adviser before acting on the information. Please read The Rask Group’s Financial Services Guide (FSG) for more information. This article is authorised by Owen Raszkiewicz of The Rask Group, which is a corporate authorised representative No. 1264179 of Strawman Pty Ltd (ACN: 610 908 211) (AFSL: 501 223).