Stocks to watch on the Australian stock exchange:
A2M – THE A2 MILK COMPANY – up $2.06, or 23.6 per cent, at $10.77
The A2 Milk Company has more than doubled its first-half profit and has entered into an alliance with global dairy giant Fonterra to produce new products and enter new markets.
CCL – COCA-COLA AMATIL – up 25.5 cents, or 2.9 per cent, at $8.945
Coca-Cola Amatil’s annual net profit has risen 80.9 per cent to $445.2 million, fuelled by one-off gains, but the bottler’s key Australian beverages division had a challenging year.
DOW – DOWNER EDI – up 8.5 cents, or 1.3 per cent, at $6.785
Downer EDI has posted an $11.1 million first-half loss dragged down by a goodwill impairment on its mining operations, writedowns from its freight rail divestment and redundancy costs from its recently acquired Spotless.
FMG – FORTESCUE METALS – down 20 cents, or 3.7 per cent, at $5.16
Fortescue Metals Group’s half-year profit has slumped 44 per cent to $US681 million ($A billion), with the miner realising lower prices for its iron ore.
FXJ – FAIRFAX – up 2 cents, or 3 per cent, at 68 cents
Fairfax Media will sell or close more than a third of its New Zealand print publications following a 54 per cent fall in first-half profit.
LLC – LENDLEASE – up $1.005, or 6.3 per cent, at $16.965
Strong performances in its development and investment businesses has helped property developer Lendlease lift net profit by 7.8 per cent to $425.6 million.
TRS – THE REJECT SHOP – up 67 cents, or 11.4 per cent, at $6.57
The Reject Shop says its first-half profit has edged up 1.1 per cent to $17.7 million, and it expects its full-year result will be well ahead of last year’s.
WES – WESFARMERS – up $1.60, or 3.9 per cent, at $42.36
Wesfarmers’ first-half profit has plummeted 86.6 per cent to $212 million on the back of more than $1.3 billion in impairments against its UK hardware business and Target department stores.
WTC – WISETECH GLOBAL – down $2.75, or 18.8 per cent, at $11.90
Shares in Wisetech Global have dropped sharply after the logistics software group lifted half-year sales and revenue but held full-year guidance steady despite a string of acquisitions.