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ASX 200 (XJO) To Open Higher, 3 ASX Shares To Watch

The ASX 200 (INDEXASX:XJO)(^AXJO) is expected to open higher today, the USA’s S&P 500 Index (.INX) rose by 1.1% on Monday.
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Jaz Harrison

Jaz is a Staff Writer for Rask. She is a keen investor who loves to thoroughly poke holes in an investment idea before it has a chance of making it into her portfolio. Jaz invests for the long-term and doesn't sweat the small stuff. She strongly believes that empowering people with knowledge is the best way for them to take charge of their finances, which is exactly the approach she takes with her own money and investments.
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The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open higher today, the USA’s S&P 500 Index (.INX) rose by 1.1% on Monday.

Australian Dollar ($A) (AUDUSD): 67.75US cents

Dow Jones (DJI): up 1.05%

Oil (WTI): $US53.64 per barrel

Gold: $US1,527 per ounce

ASX Sharemarket News

In ASX sharemarket news, plumbing business Reliance Worldwide Corporation Ltd (ASX: RWC) has reported its FY19 result to the market.

The plumbing business reported that net sales rose by 43% to $1.1 billion. Excluding the John Guest acquisition, net sales rose by 5% to $782.9 million. Reported EBITDA (click here to learn what EBITDA means) increased by 79% to $242.5 million.

Reliance’s reported net profit after tax (NPAT) increased by 102% to $133 million and the total dividend for FY19 was increased by 38.4% to 9 cents per share.

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Inghams Group Ltd (ASX: ING) is another business to report today, it has revealed its FY19 result to the market.

Core poultry volumes increased by 4.3% to 414.9kt. This helped underlying gross profit rise by 3% to $480.2 million.

EBITDA rose by 14.2% to $242.2 million and net profit after tax grew by 10.1% to $126.2 million. But, ‘underlying’ EBITDA only went up by 2.9% to $208.6 million.

Inghams finished the financial year with net debt of $263.8 million and the Board decided to declare a final dividend of 10.5 cents per share.

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MNF Group Ltd (ASX: MNF) reported that recurring revenue increased by 89% to $73.6 million. Phone numbers on the network grew organically by 18% to 3.8 million

Gross profit grew by 20% to $82.5 million and EBITDA rose by 11% to $27.2 million. Underlying net profit increased by 13% to $15.9 million, meanwhile underlying profit/earnings per share (EPS) rose by 12% to 21.7 cents.

The MNF Board decided to declare a final dividend of 4 cents per share, taking the full year dividend to 6.1 cents per share.

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