Stocks to watch on the Australian stock exchange:
A2M – THE A2 MILK COMPANY – up $1.15, or 10.2 per cent, at $12.45
Shares in milk processor The A2 Milk Company have continued to rise after lifting 30 per cent to a record high on Wednesday following its announcement that first-half profit had more than doubled.
BKL – BLACKMORES – down $22.88, or 14.3 per cent, at $136.62
Blackmores shares have plunged in early trade despite the vitamin maker boosting first-half profit by 20 per cent, with investors reacting to a warning of a soft second half due to supply issues and a weaker Australian market.
CWN – CROWN RESORTS – up 53 cents, or 4.2 per cent, at $13.03
Casinos operator Crown Resorts’ International VIP gambling business has improved but conditions have been more challenging in the first half for its Australian operations, which include casino resorts in Melbourne and Perth.
FLT – FLIGHT CENTRE – up $5.73, or 11.4 per cent, at $55.80
Flight Centre has lifted its annual guidance after boosting first-half net profit 37.2 per cent to $102.2 million, on the back of US tax rate changes and the company’s strong performance in the UK.
KGN – KOGAN.COM – up 84 cents, or 11.6 per cent, at $8.07
Online retailer Kogan.com’s first-half profit has risen more than fivefold to $8.3 million.
NEC – NINE ENTERTAINMENT – up 32.5 cents, or 19.2 per cent, at $2.02
Strong ratings and a dominant share of the free-to-air TV revenue market have driven a 55 per cent increase in Nine Entertainment’s half year underlying profit.
QAN – QANTAS – up 42.5 cents, or 8.1 per cent, at $5.695
Qantas will return another $378 million of capital to shareholders in the form of a share buyback after the carrier lifted first-half profit 18 per cent to $607 million – and plans to set up a pilots academy.