The ASX 200 (INDEXASX: XJO)(^AXJO) is expected to open lower today, the USA’s S&P 500 Index (.INX) fell by 0.32% on Tuesday.
Australian Dollar ($A) (AUDUSD): 67.50US cents
Dow Jones (DJI): down 0.47%
Oil (WTI): $US55.59 per barrel
Gold: $US1,553 per ounce
ASX Sharemarket News
In ASX sharemarket news, Bellamy’s Australia Ltd (ASX: BAL) has reported its FY19 result to the market.
The infant formula company reported that its revenue fell by 19% to $266.2 million which was impacted by regulation, a lower birth rate and increased competition for Chinese demand.
Gross profit dropped 10.1% to $115.9 million, EBITDA (click here to learn what EBITDA means) fell by 46% to $34.9 million and net profit after tax (NPAT) dropped 49.3% to $21.7 million.
However, in FY20 Bellamy’s expects revenue growth of 10% to 15%. But it did defer its $500 million revenue target to beyond FY21.
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Macquarie Group Ltd (ASX: MQG) has gone into a trading halt to do a capital raising of at least $1 billion.
There’s a non-underwritten $1 billion institutional capital raising and also a share purchase plan.
The raised cash is for the investments made into the renewable, technology and infrastructure sectors and an anticipated increase in capital deployment by Macquarie Asset Management (MAM) and Macquarie Capital. The new cash can also be used for new opportunities.
Macquarie also said the profit for the first half is expected to be 10% higher than the prior year. However, it still expects FY20 profit to be slightly lower than FY19.
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Afterpay Touch Group Ltd (ASX: APT) has released its FY19 result to investors.
The buy now, pay later company said its global underlying sales increased by 140% to $5.2 billion with annualised sales of over $7.2 billion.
Active customers grew by 130% to 4.6 million and it currently has 5.2 million customers. Active merchants grew by 101% to 32,300 and it has grown further to 35,300.
Gross losses reduced to 1.1% from 1.5% in FY18, pro forma EBITDA was $35.5 million and it made a statutory loss of $43.8 million.
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