Here are the headlines from the S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) and Australian finance circles on Wednesday morning.
But first, here are the data points:
Australian Dollar ($A) (AUDUSD): 72.4 US cents
Dow Jones (DJI): up 0.5%
Oil (WTI): $US66.78 per barrel
Gold: $US1,201 per ounce
Australian Investing News
Making finance news today, a list of ASX 200 companies are reporting their financial results.
Insurance Australia Group Ltd (ASX: IAG) released its 2018 financial results showing a 2.6% increase in revenue to $16.4 billion and a profit of $923 million, flat year-over-year.
IAG will pay a final dividend of 20 cents per share, fully franked. IAG said lower natural weather events and a better insurance margin led to the improved result.
Wesfarmers Ltd (ASX: WES), the owner of retail businesses like Coles and Bunnings Warehouse among others, reported a 3% increase in revenue and a net profit of $2.9 billion, up 5.2%.
Wesfarmers will pay a final dividend of $1.20 per share, in-line with its final payment in 2017.
“The three key priorities for the year were to address areas of underperformance, reposition the portfolio and drive opportunities for growth, with good progress made against each of these,” CEO Rob Scott.
Wesfarmers said it has made significant progress with its demerger of Coles, which is expected to be completed in November 2018.
Read more: Wesfarmers to pay $1.20 final dividend
Computershare Limited (ASX: CPU) revealed revenue growth of 6% for its 2018 financial year and will pay a final dividend of 21 cents.
“We are pleased to deliver these solid results with 14.1% growth in Management EPS in constant currency terms,” CEO Stuart Irving said. “This is a record profit for Computershare, and the fastest rate of earnings growth since FY09.”
Read more: Computershare says yes to 2018 profit increase
Australia’s largest biotechnology company, CSL Limited (ASX: CSL), reported a $1.7 billion profit, up 28% year over year, and a final unfranked dividend of $US0.93 per share.
Read it now: CSL reports, dividends jump
“I am pleased to report a strong full year reported profit growth of 29%; slightly ahead of the guidance we provided in May,” CSL CEO Paul Perreault said. “We are proud of our achievements this year, and looking forward to continuing our work in the year ahead.”
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