The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open higher today, the USA’s S&P 500 Index (.INX) went up by 0.58% on Wednesday.
Australian Dollar ($A) (AUDUSD): 69.28US cents
Dow Jones (DJI): up 0.45%
Oil (WTI): $US62.20 per barrel
Gold: $US1,297 per ounce
ASX Sharemarket News
In ASX sharemarket news, UK challenger bank CYBG Plc (ASX: CYB) has reported its half year result.
Its underlying profit before tax fell 5% to £286 million year on year because of an anticipated increase in impairments. Pro forma profit before tax was £9 million. CYBG said this was impacted by “significant” acquisition and integration costs with Virgin Money.
CYBG CEO David Duffy said: “We remain on track to deliver 2019 performance in line with guidance and look forward to updating the market in June on our refreshed strategy and the significant opportunities for our combined business.”
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Cloud accounting business Xero Limited (ASX: XRO) has reported its full year earnings to 31 March 2019.
The Kiwi business reported that operating revenue grew by 36% to NZ$552.8 million and annualised recurring revenue went up 32% to $638.2 million.
EBITDA excluding impairments grew by 84% to NZ$91.8 million, the net loss after tax (NLAT) excluding impairments went up 63% to a loss of NZ$8.5 million.
Most pleasingly, free cash flow went from a negative NZ$28.5 million loss to a positive $6.5 million.
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Natural beauty business BWX Ltd (ASX: BWX) has provided an update about its progress.
The company said it’s going through a global restructure, which includes David Fenlon being appointed the CEO and Managing Director, Myles Anceschi is to leave the business.
FY19 EBITDA is now expected to be in the range of $21 million to $23 million, with Sukin trading being impacted.
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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).
At the time of publishing, Jaz does not have a financial interest in any of the companies mentioned.