The S&P/ASX 200 (ASX: XJO) is expected to trade higher today with the Sydney Futures Exchange pointing to a positive open. Right now, the ASX 200 is priced 0% from its 52-week high of 7144.6.
Making investment headlines today is Super Retail Group Ltd (ASX:SUL), Qantas Airways Limited (ASX:QAN
) and Bingo Industries Ltd (ASX:BIN).
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ASX 200 News Today
1. Super Retail Group Ltd
Super Retail Group is a retail conglomerate that traces its history back to the 1970s, it’s now one of the biggest in the country. It operates a number of recognisable retail brands including BCF Boating Camping Fishing, Macpac, Rebel, and Supercheap Auto. It’s headquartered in Brisbane and has over 12,000 employees in Australia, New Zealand and China.
This morning, Super Retail reported a 2.9% rise in half-year revenue and a profit of $57.4 million, down 20% year over year. A 21.5 cents per share dividend was declared which is down from 28.5 cents per share this time last year.
The retailer said its results were impacted by the recent Australian bushfires and drought during its peak trading period. Fortunately, Super Retail says it is now starting to see “a number of positive trends in the business.”
That said, like many other companies on the ASX, the Coronavirus is something Super Retail is mindful of given that two of its factories, which supply Rebel and Macpac, are located in the Chinese city of Wuhun.
“There is no expectation of a material impact on availability of product in the short term given current inventory levels,” the company said.
“Overall, it has been a positive start to the second half. Supercheap Auto and Rebel have traded well in the new calendar year, with accelerating like-for-like sales growth,” SUL’s CEO Anthony Heraghty said.
2. Qantas Airways
Qantas is Australia’s leading airline. It was founded in the Queensland outback in 1920, the Qantas name was originally Queensland and Northern Territory Aerial Services.
Qantas released its half-year financial report today with the company’s revenue coming in at $9.46 billion, up $258 million or 2.8%, over the prior corresponding period. Revenue per passenger kilometre, a key measure for airlines, rose 0.7% and the number of passengers carried increased 1.3% to 28.87 million.
A 13.5 cents per share dividend was declared. Unfortunately, the company expects a $100 million to $150 million impact from the Coronavirus.
Read more: Qantas ups dividend, buys back shares but…
3. Bingo Industries Ltd
Bingo Industries is a waste management business, it provides residential and commercial waste services, recycling services and bin manufacturing. It started in 2005 when the Tartak family purchased a small skip bin business.
Bingo reported its eagerly-awaited first-half financial results today showing a 50.7% increase in net revenue and a profit of $38.2 million, up from $13.4 million last year. The statutory profit result includes acquisition costs of $6.6 million and a once-off profit on an asset sale of $22.4 million.
Turning to dividends and Bingo declared a half-year payment to shareholders of 2.2 cents per share, up from 1.72 cents per share last year.
“This is a solid result in a still challenging operating environment,” CEO Daniel Tartak said.
“Our balance sheet is robust and we recorded strong EPS growth of 132%, up from 2.5 cents per share in the prior corresponding period to 5.8 cents per share.”
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