GWA Group has reported a decrease in revenue of 1.6% for the year ended June 30. The company’s statutory net profit increased by 22.7% to $43.2 million, while the normalized net profit decreased by 6.6% to $44.1 million. GWA Group declared a final dividend of 7¢ per share.
Argo Investments Sees Decline in Profit but Boosts Dividend
Argo Investments reported a 13.2% decline in full year profit to $271.7 million. However, the company increased its final dividend by 5.9% to 18¢ per share. Argo’s investment performance was up 11.4%, compared to the S&P/ASX 200 Accumulation Index’s return of 14.8%.
Bendigo and Adelaide Bank Achieves Record Cash Profit
Bendigo and Adelaide Bank recorded a cash profit of $576.9 million, a 15.3% increase from the previous year, and increased its full-year dividend to 61¢ per share. The bank also saw an increase in net-interest margins.
Carsales Reports Significant Profit Increase
Online vehicle classified advertising group Carsales experienced a 301% increase in after-tax profit to $646 million for the full year. The company’s revenue increased by 53% to $781 million. Carsales declared a dividend of 32.5¢ per share.
JB Hi-Fi Achieves Record Sales but Sees Decrease in Profits
JB Hi-Fi, Australia’s largest home entertainment retailer, reported a 4.3% increase in revenue to $9.63 billion. However, earnings and profits fell, leading to a lower dividend. JB Hi-Fi’s final dividend for the year was $1.15 per share.
Ansell Faces Decline in Sales due to Decreased Demand
Ansell, a medical gloves maker, experienced a 15% decrease in total sales due to a slowdown in demand for single-use gloves as the COVID-19 pandemic nears an end. Net profit after tax also declined by 6.6% to $148.3 million.
Telstra and TPG Telecom Will Not Appeal Competition Tribunal Decision
Telstra and TPG Telecom have decided not to appeal the Australian Competition Tribunal’s decision to reject TPG’s regional network sharing deal with Telstra. The proposed multi-operator core network agreement was not granted authorization by the tribunal.
