Stocks to watch

GMG - GOODMAN GROUP - up 65 cents, or 4.4 per cent, to $15.50

The warehouse and business park owner said its operating profit rose 11.4 per cent to $924 million, with its statutory profit, which includes valuation gains, up 48 per cent to $1.6 billion.

Goodman Group said it was benefiting from a trend in which businesses locate their supply chains in major cities to respond more quickly to consumers.

CGC - COSTA GROUP - down 62 cents, or 16.4 per cent, to $3.17

The grower increased its revenue by 11.8 per cent to $573 million first half but an adverse Moroccan blueberry season, low mushroom demand, poor raspberry quality, citrus water costs and fruit fly meant underlying profit was down 14 per cent to $40.9 million.

BWX - BWX LIMITED - up 67 cents, or 28.8 per cetn, to $3

Shares in BWX have hit their highest level in a year in an apparent short squeeze after the troubled natural cosmetics company met its earnings guidance and predicted solid sales growth.

The stock is 11.9 per cent sold short, one of the most-shorted shares on the ASX, and traders who had bet its price would fall apparently had to buy it to cover their losses.

RCT - REEF CASINO TRUST flat at $2.41

An extraordinary wet season and global economic jitters have helped wipe more than two-thirds from the trust's first-half profit, though the result was slightly better than forecast at the Cairns-based complex.

The trust said its net profit fell by 69 per cent to $755,000 in the six months to June 30, down from $2.42 million a year ago, while revenue dipped by 27 per cent to $7.6 million amid exceptionally weak visitor numbers to North Queensland.

PRT - PRIME MEDIA - down one cent, or five per cent, to 19 cents

The regional broadcaster has swung to a $7.39 million full-year profit but earnings are down and expected to fall further as its key markets continue to deteriorate over the coming year.

AFG - AUSTRALIAN FINANCE GROUP - down two cents, or 0.9 per cent, to $2.20

The residential mortgage broker has posted a 0.8 per cent dip in full-year profit to $33 million, insisting it has "proved its resilience" after Kenneth Hayne's royal commission spurred scrutiny of the mortgage broking industry.

Austrlaian Associated PressBack to Breaking News

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