The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open higher today, the USA’s S&P 500 Index (.INX) rose by 0.74% on Friday.
Australian Dollar ($A) (AUDUSD): 69.11US cents
Dow Jones (DJI): up 0.19%
Oil (WTI): $US56.07 per barrel
Gold: $US1,420 per ounce
ASX Sharemarket News
In ASX sharemarket news, debt collecting business Credit Corp Group Limited (ASX: CCP) has released its FY19 result to the market.
The company reported a 9% increase in net profit to $70.3 million and a 16% increase of the consumer loan book to $212 million.
The US debt business continues to grow at a fast pace. There was a 69% increase in collections and a near tripling of segment net profit.
Credit Corp CEO Thomas Beregi said: “Both segments performed very well and we are guiding for them to grow strongly in 2020. The US is on track to fulfil its potential of becoming as large as the A/NZ debt buying operating in the medium term.”
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Infant formula business Bubs Australia Ltd (ASX: BUB) has released its quarterly activities report and cashflow.
The fourth quarter Bubs sales were up 108% on the fourth quarter of FY18 and up 56% on the last quarter. The fourth quarter’s sales of $18.46 million exceeded the full year of FY18 revenue.
Positive operating cashflow was achieved in the fourth quarter and the company had $23.3 million in cash reserves at 30 June 2019.
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Rare earth miner Lynas Corporation Ltd (ASX: LYC) has also released its quarterly numbers to the market.
Lynas said quarterly NdPr production was maintained at around 1,500 tonnes in a softer market. Quarterly operating cashflow was $37 million despite the low market pricing and it finished with a closing cash balance of $89.7 million.
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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.