At lunch on Thursday the S&P/ASX 200 index has returned to form. At the time of writing the index is up 0.35% to 6,505.1 points.
Here's what has been happening on the market today:
Coles result in line with expectations.
The Coles Group Ltd (ASX: COL) share price is up 3.5% after delivering a profit result in line with expectations. One thing that was ahead of expectations was its dividend. The company declared a 35.5 cents per share dividend, inclusive of a special dividend of 11.5 cents per share. The supermarket giant also revealed that it has started FY 2020 in a positive fashion.
Webjet sinks.
It has been a disappointing day of trade for the Webjet Ltd (ASX: WEB) share price. The online travel agent's shares have crashed 11% lower despite posting a 45% increase in net profit after tax from continuing operations to $62.3 million. This result appears to be in line with expectations, so investors may have been expecting even more from Webjet in FY 2019.
Flight Centre impresses.
The Flight Centre Travel Group Ltd (ASX: FLT) share price has charged 9% higher today following the release of its full year results. Although it posted a 10.8% decline in underlying profit before tax to $343 million, investors appear pleased to learn that margins are stabilising in its key Australian leisure business.
Best and worst performers.
The best performer by some distance on Thursday is the Pro Medicus Limited (ASX: PME) share price with a gain of 14%. The leading health imaging company announced a full year profit of $19.1 million, which was 91.9% higher than for the prior corresponding period. The IDP Education Ltd (ASX: IEL) share price is the worst performer on the index with a decline of 21%. Although the education services provider delivered a strong result, its profit growth slowed in the second half. In addition to this, no guidance was provided for FY 2020.
