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Westpac Banking Corporation (ASX: WBC) is engaged in the banking and financial services related activities.
The bank recently gave notice of the aggregated percentage of voting shares in the company, in respect of which its controlled entities have the power to control voting or disposal of in accordance with the terms of an exemption granted by the Australian Securities and Investments Commission pursuant to subsection 259C (2) of the Corporations Act 2001.
New pre-clinical data from ongoing studies supports further clinical evaluation of BNC101:Bionomics Ltd has recently released new pre-clinical data from ongoing studies of BNC101, cancer drug candidate being developed to treat solid cancer. The data presented at the annual American Association for Cancer Research conference in Washington, DC demonstrates complementary anti-tumor activity between BNC101 and checkpoint inhibitors (Checkpoint inhibitors seek to overcome one of cancer's main defenses against an immune system attack). The data strongly supports further clinical evaluation of BNC101 in combination with checkpoint inhibitors. Although a concrete outlook/ guidance on financials has not been provided for full year, BNO expects to continue with its investments in pipeline programs.
Fiscal Year 2016 performance was as forecasted: Seven West Media Ltd (SWM) lately signed a contract to acquire Sunday Times and PerthNow and expect these to increase the shareholder value and deal with the challenges of fragmented market in Western Australia. The group delivered as per the full year guidance in Fiscal Year 2016 and reported a 0.9% fall in underlying net profit after tax (excluding significant items) to $207.3 million. The group reported about 3% fall in the revenues to $1,726.6 million against fiscal year of 2015. Moreover, the group is accelerating the transformation of its business across all platforms. The group’s digital segment is expected to deliver greater than 150% of revenue growth.
Automotive Holdings Group Ltd
Boosted Capital position from acquisitions: Automotive Holdings Group Ltd (ASX: AHG) stated that it’s Share Purchase Plan has closed oversubscribed following successful completion of fully underwritten placement to raise $90 million. Automotive Holdings earlier reported a 7.2% increase in revenues to $5.25 billion in Fiscal Year 2016 and the earnings per share grew 2.4% to 28.7 cents per share, which is slower than operating profit primarily due to costs related to acquisitions and a few one-offs including impairment of assets. The statutory Net Profit After Tax grew 2.2% to $90.1 million. The stock rose over 17.62% in the last three months and still trading at a decent dividend yield.
Strong market presence: LifeHealthcare Group Ltd (ASX: LHC) enjoys top three market positions in core channels. The business model is focused on global sourcing and offering local solutions with emphasis on specialty clinical channels and products like spine, neurosurgery, orthopedics, ultrasound and coronary intervention. Meanwhile, the group’s revenues have grown at a CAGR of 10.3% since the last five years while EBITDA grew 14.3% during the same period. Moreover, the demand outlook remains positive with rising aging population, emerging technology and rising rate of chronic disease.
Positive outlook despite short term challenges: Ramsay Health Care Limited withdrew its joint venture with Chinese company Jinxin in the city of Chengdu, indicating the group’s cautious stance while expanding its business. Investors have been positive on the stock despite the Brexit outcome, even though Ramsay Health Care Limited has over 36 hospitals in the U.K. and derives over 11% of its revenue from the region. The stock rose over 13.1% in the last four weeks as of July 28, 2016 and delivered 21.7% returns in the last three months.
Reaffirmed guidance:Cedar Woods Properties Limited reaffirmed FY16 profit guidance of $43 million as well as estimates strong growth for financial year17. Cedar Woods Properties Limited has nine new projects under pipeline which would contribute to earnings over next three years. Presales for financial year 17 and financial year 18 are at $130 million as per the third quarter financial year 16 operational update while a growing national pipeline of development project in Western Australia, Victoria and Queensland is expected to drive revenues for financial year 17 and financial year 18. In Half first financial year 16, the company acquired two exciting projects – North Baldivis and Wooloowin project.
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