1 October we become SureStone CapitalSame team, same ABN. Our website and email addresses move to surestone.com.au.
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The ASX 200 moved back into the red, down around 0.2% to 9,065 points, after yesterday's relief rally proved short-lived. The index is now around 0.5% lower for the week and approximately 2.5% below its all-time high. Reporting season remains the key focus, with several major company results released today.
Ingham's (ING) expects FY27 underlying earnings of $155–180 million, following a 21% decline in FY26 underlying earnings to $186 million. Underlying net profit fell almost 41% to $56.6 million, while revenue increased just over 2%. The company declared a fully franked final dividend of 6.1 cents per share, taking the full-year payout to 10.1 cents. Ingham's expects FY27 to remain challenging, forecasting volume growth of 2.5–4%, while warning of another $30 million in Middle East-related costs, up to $50 million in higher feed costs and ongoing bird flu risks.
Guzman y Gomez (GYG) booked a $26.7 million statutory net loss for the year following its exit from the US, despite record underlying earnings of $85 million and 18% sales growth. Network sales from continuing operations reached $1.38 billion, while Australian like-for-like sales increased 5.3%, supported by higher transaction volumes and customer visits. GYG launched a further $100 million share buyback and declared a fully franked dividend of 40.6 cents per share, including a special dividend of 14.4 cents.
TPG Telecom (TPG) reported a 43% decline in first-half profit to $35 million, impacted by $29 million in ongoing costs associated with the fibre business sold to Vocus. Profit from continuing operations increased 9%, while revenue was broadly flat at just over $2 billion. TPG declared an interim dividend of 10 cents per share, 25% franked, up from 9 cents last year. The company said it is gaining mobile market share following its network-sharing agreement with Optus, although it continues to face strong competition in broadband.
Accent Group (AX1) plans to cut costs by $10–15 million in FY27 after like-for-like retail sales fell 2% over the first seven weeks. Total sales excluding closed businesses increased 3.2%. FY26 statutory net profit after tax was $13.8 million, with the company declaring a dividend of 4.5 cents per share, down from 7 cents previously.
Qualitas (QAL) reported a 20% increase in normalised net profit before tax to $63 million. Funds management revenue rose 27% to $85 million, while fee-earning funds under management increased 36% to $11.9 billion. Qualitas said Australia's residential property market remains structurally undersupplied, creating opportunities for alternative financiers. FY27 normalised net profit is forecast at $74–80 million, representing growth of up to 26%. The company will pay a dividend of 11.2 cents per share, up 13%.
Charter Hall Group (CHC) reported earnings of 103.2 cents per security, up almost 27%, while distributions increased 6%. Funds under management rose by $10 billion to $94.3 billion, supported by strong property growth, with occupancy remaining high at 97.8%. Charter Hall expects FY27 earnings to rise 10.5% to 114 cents per security, with distributions forecast to grow by around 6%.
