1 October we become SureStone CapitalSame team, same ABN. Our website and email addresses move to surestone.com.au.
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Wall Street finished lower overnight as rising Treasury yields weighed on investor sentiment, while disappointing retail results added further pressure. The Nasdaq fell 1% and the Dow dropped 1.3%, with consumer discretionary stocks among the biggest decliners. Walmart shares fell sharply after the retailer missed expectations for quarterly comparable sales, while Moderna dropped around 23% after surging nearly 177% in the previous session. Deere & Co. gained after raising its full-year net income forecast.
The ASX 200 opened around 0.1% lower and is now more than 1% lower for the week, sitting around 2.25% below its recent record high.
Ingham's (ING) expects FY27 underlying earnings of between $155 million and $180 million, following a 21% decline in FY26 underlying earnings to $186 million. Underlying net profit fell almost 41% to $56.5 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 another challenging year, with volume growth forecast at 2.5–4% and up to $30 million in additional Middle East-related costs. Higher feed costs and bird flu remain key risks.
Guzman y Gomez (GYG) recorded a $26.7 million statutory net loss for FY26 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%. GYG also 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.
Accent Group (AX1) plans to reduce costs by $10–15 million in FY27, following a 2% decline in like-for-like retail sales over the first seven weeks of the financial year. 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 the previous year.
TPG Telecom (TPG) reported a 43% decline in first-half profit to $35 million, impacted by $29 million of 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. The company said it is gaining mobile market share following its network-sharing agreement with Optus, although broadband remains highly competitive.
Qualitas (QAL) reported a 20% increase in normalised net profit before tax to $63 million. Funds management revenue grew 27% to $85 million, while fee-earning funds under management increased 36% to almost $12 billion. Qualitas expects FY27 normalised net profit of $74–80 million, representing growth of up to 26%, and declared a dividend of 11.25 cents per share.
Charter Hall Group (CHC) reported earnings of $1.03 per security, up almost 27%, while distributions increased 6% to 50.7 cents. Funds under management rose by $10 billion to $94.3 billion, supported by strong property growth, with occupancy remaining close to 98%. Charter Hall expects FY27 earnings to increase 10.5%, with distributions forecast to grow around 6%.
