From everyone here at Rask Media we wish you a happy Hump-day Eve as you digest today’s headlines from the S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) and Australian finance circles.
First, here are the data points:
Australian Dollar ($A) (AUDUSD): 71.56 US cents
Dow Jones (DJI): down 0.3%
Oil (WTI): $US68.68 per barrel
Gold: $US1,204 per ounce
Australian Investing News
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In Australian investing news today, New Zealand’s outdoor retailer Kathmandu Holdings Ltd (ASX: KMD) has released its financial results for its 2018 year.
Kathmandu reported a 12% increase in full-year revenue and a profit of NZ$50.5 million, up 33%. To reward its loyal employees, Kathmandu will offer a $1,000 bonus to every permanent staff member.
“We were delighted to achieve record profits this year as we balanced sales growth with gross margin improvement,” Kathmandu CEO Xavier Simonet said. “Sales growth was supported by the success of our key product groups, improved promotional execution, inspiring digital content, and an enhanced in-store customer experience.”
Read more here: Kathman-does-it-again: Profit up 33%.
Also reporting today, Australia’s third-largest internet provider TPG Telecom Ltd (ASX: TPM) released its 2018 financial report. TPG reported a flat year-over-year revenue result at $2.5 billion with a profit of $397 million, down 4%. A final dividend of 2 cents per share was declared.
Looking towards the future, TPG’s David Teoh said the company is anticipating another year of growth from its “business as usual” operations but slimmer margins from its fixed internet and voice services, partly reflecting the transition to NBN services.
As Rask Media reported here, TPG’s $15b Merger With Vodafone Australia, TPG is currently planning its proposed merger with Vodafone to create more a diverse telecommunications organisation.
Finally, CIMIC Group Ltd (ASX: CIM) (formerly Leighton Holdings) announced it has been awarded a NZ$750 million contract by the New Zealand Government to build the Waikeria Corrections and Treatment Facility Public Private Partnership (PPP) project.
“Our integrated approach to PPP projects is based on our end-to-end capabilities across a project’s lifecycle,” CIMIC Group CEO Michael Wright said. “Utilising our technical and operational expertise, and our financial strength, we will work in partnership with the Department of Corrections to deliver a high-quality facility of long-term value for New Zealand.”
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