1 October we become SureStone CapitalSame team, same ABN. Our website and email addresses move to surestone.com.au.
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NAB (ASX: NAB) expects operating expenses in FY25 to be 4.5% higher largely due to payroll issues, with remediation costs estimated at $130 million, revealing many staff members have been underpaid. In its June quarter update, NAB reported cash earnings of $1.77 billion, down 1% on the average of the prior two quarters, reflecting higher credit impairment charges. The bank booked $254 million in impairments, including $215 million tied to business lending in Australia and New Zealand and unsecured retail portfolios. Its net interest margin increased 8 basis points, with revenue for the quarter rising 3%.
Ampol (ASX: ALD) has seen its net profit drop 23% in the first half...Excluding one-time items profit fell to $180.2 million in the six months to the end of June, from $233.7 million a year earlier. It's declared a lower interim dividend of 40 cents per share, fully franked...after profits at its only oil refinery were almost wiped out. Earnings were down 12% in the six months to June, while depreciation costs went up. CEO Matt Halliday has flagged a "backdrop of ongoing geopolitical uncertainty, associated with global demand concerns" The petrol retailer now says it expects to strengthen its balance sheet, ahead of the completion of its $1.1 billion takeover of the EG network of service stations which was announced last week. Net capex for 2025 is expected to be approximately $600 million
A2 Milk (ASX: A2M) has reported a 21% jump in its profit to around NZ$203 million for the full year...It will provide total dividend of 20 NZ cents per share..The dual-listed stock saw a 13.5% incresae in annual revenue to $NZ1.9 billion. The milk retailer saw sales increase 3.3% in China to a record, despite ongoing supply constraints. It says it will focus on capturing full potential in the China market for FY26 - while expanding into adjacent categories and new markets.
Australia’s largest steelmaker, BlueScope (ASX: BSL), has seen its full year profit tumble to $84 million compared with $806 million a year ago, which it attributes to softer cyclical conditions, tariff uncertainty and a US writedown. It booked a $439 million impairment on its BlueScope Coated Products business in the USA which it purchased in 2022. Revenue was down 4% to $16.3 billion. Earnings before interest and tax at the Australian operations were down 31 per cent to $262 million, while in the North American division, EBIT was down 45 per cent to $514 million. Bluescope has kept its final dividend payout steady at 30¢ per share which will 50% franked, while its undertaking a on market buy-back of up to $240 million. It's guiding its underlying EBIT in the first half of FY26 to be in the range of between $550 and $620 million.
Aurizon Holdings (ASX: AZJ) has seeing underlying earnings fall 48% to $1.57 billion, which was in line with revised guidance released in June. It's announced it will will cut 200 full-time jobs and buy back another $150 million of shares as annual net profit slid 25 per cent to $303 million. Revenue rose but profits were dragged down by a $57 million writedown on the group’s bulk haulage business and $60 million of legal and restructuring costs. Aurizon will pay a full-year dividend of 15.7¢, down 11% on a year earlier with the company having completed a $300 million share buyback. It's forecast underlying earnings of $1.68 billion to $1.75 billion for fiscal 2026 and dividends of 19¢ to 20¢ per share.
Lendlease (ASX: LLC) has returned to profit... and says that FY26 will be a year of "transition". The Group has reported $225 million in statutory profit after tax over FY25, thanks to simplification in the business. This return to profitability comes despite revenue being lower by 17% to $7.75 billion. It's declared a final distribution of 17 cents, bringing the total amount per security to 23 cents. Lendlease says that FY26 will be a period of "transition" for the Group, before earnings to rebound over FY27. The real-estate Group says it has multiple construction projects lined-up, with completions due in FY27 and FY28...
Advertising company oOh!media (ASX: OML) posted a 46% jump in first half profit. The company's underlying net profit climbed to $26.5m, whilst EBITA jumped 27% just over $62 million. Revenue rose 17% to $336.2 million in the six months to June 30, driven by improved performance in street furniture, road, rail and fly advertising.oOhMedai! has declared a fully franked interim dividend of 2.25¢ per share, up 29 per cent.
