This week was the first week of reporting season. During August those companies listed on the ASX with a financial year ending 30 June, which is most of them, will report their full year financial statements.
Former industry insider, Mitch Sonogan, has been writing a series of articles taking an in-depth look at the mining industry called The Mining Investor’s Handbook. He completed parts 10 and 11 during the week.
Units in listed property investment instrument BWP Trust (ASX: BWP) were relatively unmoved on Wednesday despite it reporting a 13.7% increase in income for the year and a 7.7% lift in its full-year distribution.
Shares in engineering services company Downer EDI Limited (ASX: DOW) fell 8.9% on release of its full-year results on Thursday. The company posted a 2.7% fall in net profit and a 4.8% drop in revenue.
Shares in labour hire firm Skilled Group Ltd. (ASX: SKE) rose 4.8% on the release of its results. However the move may have more to do with the announcement of a proposed special dividend of 15.5 cents should the merger with Programmed Maintenance Services Limited (ASX: PRG) go ahead.
On Tuesday, mobile payments and advertising company Mobile Embrace Ltd (ASX: MBE) reported a 71% increase in revenue and a 62% increase in earnings before interest, tax, depreciation and amortisation.
Childcare centre rollup company G8 Education Ltd (ASX: GEM) upped its bid for takeover target Affinity Education Group Ltd (ASX: AFJ) to 80 cents per share. Here’s why G8’s share price fell on the news and here’s why Affinity’s rose.
Insurance broker Austbroker Holdings Limited (ASX: AUB) announced the acquisition of 60% of Allied Health Australia, a provider of workplace rehabilitation services for an initial fee of $8.6 million.
Origin Energy Ltd (ASX: ORG) released its quarterly production report showing a 15% rise in production offsetting falls in commodity prices. Then a few days later, the vertically integrated energy provider announced the sale of its majority holding in New Zealand based Contact Energy for $1.6 billion.
Shares in crowdsourcing company Freelancer Ltd (ASX: FLN) went into a trading halt pending a possible capital raising on Monday. On Wednesday, the company announced that it had raised $10 million from institutions at a price of $1.40 per share and that founder and CEO, Matt Barrie, had sold $12 million of shares.
Shares in online foreign exchange business Ozforex Group Ltd (ASX: OFX) were up 12% on Thursday after the company announced a 31% uplift in net operating income and 22% improvement in transaction volumes for the first quarter of the year.
Shares in payday lenders Money3 Corporation Limited (ASX: MNY) and Cash Converters International Ltd (ASX: CCV) fell as Westpac Banking Corp (ASX: WBC) announced it would stop providing funds to the industry. The news comes on the back of a class action being filed against Cash Converters relating to its Queensland operations.
China based electric scooter manufacturer Vmoto Ltd (ASX: VMT) reported that sales were down slightly in its second quarter compared to last year, although they were up 13% on the first quarter this year.
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The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.