The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open lower today, the USA’s S&P 500 Index (.INX) rose by 0.08% on Wednesday.
Australian Dollar ($A) (AUDUSD): 67.61US cents
Dow Jones (DJI): down 0.09%
Oil (WTI): $US52.27 per barrel
Gold: $US1,499 per ounce
ASX Sharemarket News
In ASX sharemarket news, AMP Limited (ASX: AMP) has announced its half year result and also a number of other initiatives.
AMP is recognising impairments of $2.35 billion (after tax) to account for many of the issues AMP has faced, leading to a net loss of $2.3 billion. However, the company said that it generated total ‘operating earnings’ of $347 million and an ‘underlying profit’ of $309 million.
It’s raising $650 million to help it fund $300 million of annual cost reductions, and to re-position its businesses for the future.
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Furniture business Nick Scali Limited (ASX: NCK) has revealed its FY19 annual report.
It reported a 6.9% increase in sales revenue, a 2.8% increase in net profit after tax (NPAT) and a 17% decrease to the final dividend, although the full year dividend was increased by 12.% to $0.45 per share. It also increased the number of stores from 51 to 57 during the year.
Nick Scali Managing Director Mr Anthony Scali said: “The result was satisfactory given that furniture purchases are highly discretionary and have a strong correlation with housing sales.
In the past twelve months, Australia has experienced a significant slowdown in dwelling sales and the consumer has seen the value of their homes fall with the negative wealth affect resulting in a very cautious consumer.”
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Energy business AGL Energy Ltd (ASX: AGL) has announced several things today.
Its statutory net profit fell by 43% to $905 million, although its ‘underlying’ profit rose by 2% to $1.04 billion. Its final dividend was increased by 1 cent per share to 64 cents per share.
It also announced the acquisition of Perth Energy for $93 million, it announced a share buy-back and provided profit guidance for FY20.
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