1 October we become SureStone CapitalSame team, same ABN. Our website and email addresses move to surestone.com.au.
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Westpac (ASX:WBC) has seen a decline in stressed exposures although it says the Middle East war is presenting challenges for some customers. Net profit for the half year rose slightly from a year ago to $3.4 billion dollars, although it was down 5 percent from the previous half. The bank's margins were squeezed because of lending competition and lower Treasury income. Business lending rose by 13-percent to $120-billion dollars and institutional lending also grew. Credit impairment provisions were increased to $5.2 billion dollars.
Flight Centre (ASX:FLT) says its underlying profit guidance for the full year is on track. It says underlying profit before tax rose 9.7 percent to just over $226-million dollars for the nine months of the financial year. Total transaction value reached $19.5 billion dollars up 7.6 percent. However, it says Middle East hostilities disrupted leisure travel in April costing around $10-million in profit.
Nine Entertainment (ASX:NEC) says total television revenue grew in the low single digits over the third quarter. Streaming revenue rose 14 percent and digital publishing revenues were up 15-percent. It expects total television costs to fall.
Tabcorp (ASX:TAH) says its advancing its turnaround with multiple strategic initiatives.
And Ampol (ASX:ALD) expects the ACCC to decide on its proposed EG Australia acquisition by early June. It is targeting $65 to $80 million dollars in cost related synergies by the second full year after completion following the divestment of 41 sites.
Vault Minerals (ASX:VAU) and Regis Resources (ASX:RRL) say they will merge, with Regis acquiring all Vault shares. Vault shareholders will receive approximately 0.69 Regis shares for each Vault share held. The combined company will produce over 700,000 ounces of gold annually, hold 6 million ounces of ore reserves and 20.5 million ounces of mineral resources.
