The Australian share market or S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) index is set for a flat open Wednesday morning, according to data from Sydney Futures Exchange, with CSR Limited (ASX: CSR) in the news.
Here’s the key headline data:
Australian Dollar ($A) (AUDUSD): 74.51 US cents
Dow Jones (DJI): flat
Oil (WTI): $US70.20 per barrel
Gold: $US1,316 per ounce
Overnight, London-listed shares of BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) finished 1.5% and 1.2% lower, respectively, according to Yahoo! Finance.
Australian Investing News
Making news in Australia, building products company CSR Limited released its annual report to the market showing a 6% rise in revenue and a profit of $189 million, up 6%.
“CSR’s Building Products business continues to grow as we capitalise on the strength of the residential construction market in Australia,” CSR Managing Director Rob Sindel said.
“Our strategy to improve operational performance has ensured our EBIT margins remained stable, despite a 12% increase in energy costs this year.”
Goodman Group (ASX: GMG) released its third-quarter operational update revealing assets under management of $36.8 billion, up 6.4% on the amount during the first half of its 2018 financial year. Goodman Group reaffirmed its 2018 operating profit per security of 46.5 cents.
Pet store and veterinary business Greencross Limited (ASX: GXL) provided a trading update today. Greencross expects to report underlying EBITDA between $97 million and $100 million during its 2018 financial year (click here to find out what EBITDA means).
However, Greencross expects to report between $16 million and $20 million of “primarily non-cash impairments”. CEO Simon Hickey announced an immediate review of the company’s operating cost base to generate reductions up to $13 million.
Finally, explosives business Incitec Pivot Limited (ASX: IPL) released its half year report showing a 9.6% increase in revenue and a 3.3% reduction in profit, excluding material items. Incitec Pivot announced a dividend of 4.5 cents per share.
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