Reporting Season Summary: 17 Feb 2014
About the author:
- Author name:
- By Fiona Buchanan
- Job title:
- Co-Head of Research, Senior Analyst
- Date posted:
- 17 February 2014, 2:57 PM
- Sectors Covered:
- Property, AREITS
Ardent Leisure Group (AAD)
1H14 Result
NPAT: A$33.5 million; Dividend: 6.8cps
The result was in-line with expectations.
Morgans comment
The result itself was largely in-line and the trading update was strong. The real prize lies in the quickly ramping-up Main Event business with the model now worthy of expansion outside Texas.
SCA Property Group (SCP)
1H14 Result
NPAT: A$43.0 million; Dividend per share: 5.4cps
The result was in-line with expectations.
Morgans comment
SCP is trading below NTA of $1.59 and has announced an on-market buyback. The 1H result should support the share price in the near term.
Ansell (ANN)
1H14 Result
NPAT: A$66 million; Dividend per share: 17cps
The result missed expectations.
Morgans comment
While share price may be weaker on the result, we see only minor revisions and possible buying opportunity if you believe in another 2H recovery.
Aurizon Holdings (AZJ)
1H14 Result
NPAT: A$222 million; Dividend: 8cps
The result missed expectations.
Morgans comment
Upon initial review of the result we expect to be reducing our forecasts. Use any price weakness to buy stock for the long term.
UGL Limited (UGL)
1H14 Result
NPAT: A$49 million
The result was in-line with expectations.
Morgans comment
Guidance has now changed to "on track to deliver around A$120m" which was the bottom end of previous the guidance range but we do note that UGL's tax rate for the FY is lower than previously anticipated.
DWS Limited (DWS)
1H14 Result
NPAT: A$6.7 million; Dividend: 4.5cps
The result beat expectations.
Morgans comment
The outlook commentary provides a positive sector readthrough. Increases in business confidence in Q2 suggests a pick-up in business investment during CY2014.
More information
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