Here are the headlines from the S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) and Australian finance circles on Monday morning.
But first, here are the data points:
Australian Dollar ($A) (AUDUSD): 73 US cents
Dow Jones (DJI) (Friday): down 0.8%
Oil (WTI): $US67.66 per barrel
Gold: $US1,220 per ounce
Australian Investing News
Making finance news today, Bendigo and Adelaide Bank Limited (ASX: BEN) released its full year financial results to the market today showing a 2% increase in revenue to $1.6 billion and net profit after tax of $434 million, up 1% over its 2017 result. A dividend of 35 cents per share (fully franked) will be paid.
Rail and freight business Aurizon Holdings Ltd (ASX: AZJ) released its 2018 financial report showing a 1% decline in revenue with an underlying profit of $542 million, up 10%.
“Despite major regulatory challenges, Aurizon delivered a solid performance in FY2018,” Aurizon CEO Andrew Harding said. “We have demonstrated our commitment to returning capital to shareholders, and since March 2017 we have distributed more than $1 billion to shareholders through dividends and share buybacks.”
BlueScope Steel Ltd (ASX: BSL) will pay a final dividend of 8 cents per share following its strong 2018 financial year. BlueScope Steel reported revenue growth of 9% to $11.5 billion thanks to higher steel prices and volumes.
Following its takeover offer from China’s CKI Consortium, Australia’s largest gas pipeline and energy infrastructure owner, APA Group (ASX: APA), announced it has entered a binding agreement valuing the company at $11 per share. The deal remains subject to regulatory approvals, including the ACCC and FIRB.
In the financial technology space, Praemium Limited (ASX: PPS) reported a 24% jump in its 2018 revenue result and a profit of $1.4 million, up 105%.
Retailer JB Hi-Fi Limited (ASX: JBH) released its report showing a 22% jump in total sales and a profit of $233 million, up 12%. JB Hi-Fi’s comparable sales in Australia jumped 6% while its New Zealand and The Good Guys business units reported comparable sales up 2% and 1%.
“We are pleased to have delivered another year of record sales and earnings in FY18,” CEO Richard Murray said. “It was another strong result for the JB HI-FI business in Australia, as we continue to delight our customers and deliver on our strategic objectives.”
Domain Holdings Australia Limited (ASX: DHG), the property website owner, reported a 105% increase in revenue with a loss of $6.2 million. A partially franked final dividend of 4 cents per share will be paid.
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