The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open higher today, the USA’s S&P 500 Index (.INX) went down 0.01% on Tuesday.
Australian Dollar ($A) (AUDUSD): 70.86US cents
Dow Jones (DJI): down 0.10%
Oil (WTI): $US59.08 per barrel
Gold: $US1,306 per ounce
ASX Sharemarket News
In ASX sharemarket news, Unibail-Rodamco-Westfield (ASX: URW) has reported its dividend and result for the 2018 financial year. This business is one of the largest shopping centre real estate businesses in the world after merging with Westfield recently.
The property business reported a statutory profit of €1.46 billion. A cash dividend per share of €10.80 has been proposed for 2018, with a €5.40 dividend for March 2019 and a €5.40 dividend for July 2019.
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OFX Group Ltd (ASX: OFX) is also in the news this morning. It is hosting an investor day today and also provided a trading update for the second half of FY19.
The foreign exchange company said that it has achieved corporate revenue growth of more than 10% across all markets with US revenue growth of more than 20%. Net operating income (NOI) profit margins were stable, excluding ‘International Payment Solutions’.
It also said that it had active client growth in February, the first time in 10 months.
OFX is targeting growth of its EBITDA profit margin, with EBITDA of $30.9 million to $32 million excluding one-off corporate action costs (click here to learn what EBITDA means).
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Synlait Milk Ltd (ASX: SM1) reported its half year result this morning.
The dairy company revealed that its net profit after tax fell by 9.6% to $37.3 million despite an increase of sales volume of powders, cream and lactoferrin.
The company suffered from lower profit margins from a new deal with A2 Milk Company Ltd (ASX: A2M) and other higher margin sales awaiting Chinese SAMR registration.
Synlait expects to deliver profit growth in FY19 compared to FY18.
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