The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open higher today, the USA’s S&P 500 Index (.INX) rose by 1.44% on Friday.
Australian Dollar ($A) (AUDUSD): 67.86US cents
Dow Jones (DJI): up 1.20%
Oil (WTI): $US54.97 per barrel
Gold: $US1,510 per ounce
ASX Sharemarket News
In ASX sharemarket news, private health insurance business NIB Holdings Limited (ASX: NHF) has announced its FY19 result to investors.
NIB reported that its underlying increased by 8.3% to $2.4 billion with claims expenses only rising by 6.9% to $1.8 billion. Net policyholder growth was 2.1%, with the industry expected to show a decline in hospital coverage across the coverage.
The insurer’s underlying operating profit rose by 9.2% to $201.8 million and net profit after tax (NPAT) increased by 11.8% to $149.3 million. It was this solid result that gave the NIB board the confidence to raise the final dividend by 18.2% to 13 cents per share.
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Energy business Beach Energy Ltd (ASX: BPT) was another business to report this morning.
Beach said that its FY19 production grew by 55% to 29.4 MMboe (Million Barrels of Oil Equivalent) with an 85% drilling success rate in Beach-operated wells.
The oil business’ underlying EBITDA (click here to learn what EBITDA means) rose by 80% to $1.375 billion and underlying net profit increased by 86% to $560 million.
It’s going to pay a final dividend of one cent per share and finished with a net cash position at 30 June 2019, two years ahead of expectations.
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Gold miner Saracen Mineral Holdings Limited (ASX: SAR) reported its net profit increased by 22% to $92 million thanks to production growing by 12% and the all-in sustaining cost falling by almost 10% to AUD$1,030 per ounce.
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