The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open lower today, the USA’s S&P 500 Index (.INX) fell by 2.59% on Friday.
Australian Dollar ($A) (AUDUSD): 67.04US cents
Dow Jones (DJI): down 2.37%
Oil (WTI): $US53.24 per barrel
Gold: $US1,549 per ounce
ASX Sharemarket News
In ASX sharemarket news, childcare provider G8 Education Ltd (ASX: GEM) has reported its half year result to 30 June 2019 this morning.
G8 Education reported that revenue increased by 9% to $430.6 million which was driven by occupancy, fee growth and acquired centres.
Underlying EBIT (click here to learn what EBIT means) increased by 7% to $51.6 million. Net profit after tax dropped 20% to $19 million because of the implementation of the new accounting standard for leases.
The company’s Board declared a dividend of 4.75 cents, an increase of 0.25 cents per share from last year.
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Financial business IOOF Holdings Limited (ASX: IFL) also reported this morning, it revealed its FY19 result.
Total funds under management and advice (FUMA) rose by 18.7% to $149.5 billion. Underlying net profit after tax (UNPAT) rose by 3.4% to $198 million while continuing operations UNPAT went up 5.2% to $184.9 million.
However, statutory net profit after tax dropped 67.7% to $28.6 million which includes the provision for financial advice remediation.
IOOF and the industry is going through a turbulent time after the Royal Commission highlighted a number of issues. But, with the dust settling IOOF could be one of the major players.
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Funeral business Propel Funeral Partners Ltd (ASX: PFP) has reported its FY19 result.
Revenue increased by 17.6% to $95.1 million, operating EBITDA rose by 10.6% to $23.8 million and operating net profit increased by 8.1% to $13.3 million.
The company increased its dividend by 79.7% to 11.5 cents per share for shareholders.
Disclosure: Jaz owns shares of Propel Funeral Partners at the time of writing, but this could change at any time.