In 2025, it has seen its share price rise more than 40%. 

What's behind the success of this ASX 200 stock?

This rise has been driven by the company's strategic shift from being a pure explosives supplier to a broader, more diversified provider. 

The Motley Fool's Marc Van Dinther reported earlier this month that acquisitions in specialty chemicals businesses and the roll-out of digital blasting platforms have helped generate higher-margin, repeatable revenue rather than one-off explosives sales.

In its most recent financial results, the company reported its highest profit in 13 years. 

It also reported an EBIT of $992 million and strong growth across all segments. 

The company also paid out a record full year dividend of 57 cents, an increase of  21% from last year's 47 cents.

Macquarie's updated view

The team at Macquarie released a new report yesterday with updated guidance on this ASX 200 stock. 

One key takeaway from the report is the company's preparation for a strategy refresh (details expected in March) following positive early FY26 momentum.

Macquarie said Vik Bansal commences as Chairman post Dec 16 AGM who has a strong track record of cost out from his time as CEO of Boral (ASX: BLD).

Macquarie also highlighted that Orica could close the gap between itself and competitor Dyno Nobel (ASX: DNL). 

It said Dyno Nobel is in midst of its $300m transformation program; this is lifting margins with full benefits targeted in FY28. 

Dyno Nobel's EBIT margins are above Orica's at 13.4% (12.9% explosives) vs ORI's 12.0% in FY25a. 

In our view, an opportunity exists for ORI to close the margin gap to DNL through cost-out and mix benefit as higher margin Digital & SMC grows faster than Blasting. As a scenario, narrowing the gap by half over next 3-4 years would = c$100m of EBIT & a ~10% benefit to our FY28e/FY29e EPS.

Valuation

Macquarie said Orica shares are currently trading at 17.2× FY27 PE, a ~5% discount to the ASX100. 

It also said it is trading at a slight discount to competitor Dyno Nobel's 17.6x and it sees a positive earnings outlook for the ASX 200 stock coupled with a strong balance sheet.

Based on this guidance, Macquarie has an outperform rating on this ASX 200 stock. 

It also has a price target of $25.95. 

This indicates an upside of 10.85%. 

The post Macquarie tips double digit upside for this ASX 200 stock appeared first on The Motley Fool Australia.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:

Australian Strategic Materials Ltd (ASX: ASM)

The Australian Strategic Materials share price is down 18% to $1.18. This morning, this integrated materials company announced that it has received firm commitments for an institutional placement to raise $15 million. Management advised that the placement saw strong interest from new and existing domestic and international institutional investors. So much so, that demand is significantly exceeding the shares available under the placement. The funds were raised at $1.16 per new share, which represents a 19.5% discount to its last close price.

Boral Ltd (ASX: BLD)

The Boral share price is down 4.5% to $5.72. This has been driven by the building materials company's shares going ex-dividend this morning for a 26 cents per share fully franked dividend. This dividend was declared earlier this month after the company finally accepted a takeover offer from Seven Group Holdings Ltd (ASX: SVW). Eligible shareholders can look forward to receiving this dividend payment next week on 26 April.

Dubber Corp Ltd (ASX: DUB)

The Dubber share price is down 72% to 6.2 cents. Investors have been hitting the sell button today after the call recording technology company's shares returned from a seven-week suspension. This suspension was caused by allegations that its CEO "likely misappropriated" $60 million that was put into a trust account for term deposits. A total of $26.6 million remains unaccounted for. Dubber was forced to raise funds by a heavily discounted capital raising to shore up its balance sheet. These funds were raised at a 77% discount of 5 cents per new share.

Macquarie Technology Group Ltd (ASX: MAQ)

The Macquarie Technology share price is down 2.5% to $75.19. This has been driven by the data centre operator completing an institutional placement today. Macquarie Technology has received firm commitments to raise $100 million by way of a fully underwritten two-tranche placement at A$72.50 per new share. This represents a modest 6.1% discount to its last close price. CEO and co-founder, David Tudehope, commented: "The placement and acquisition will strengthen our capital structure and enable us to invest and expand our data centre business. The cloud and AI megatrends are driving substantial growth in data centre capacity."

The post Why Australian Strategic Materials, Boral, Dubber, and Macquarie Technology are falling today appeared first on The Motley Fool Australia.

Though not much!

Here are four top ASX All Ords shares trading ex-dividend this week.

ASX All Ords shares paying passive income

First up we have diversified investment house Washington H. Soul Pattinson and Co Ltd (ASX: SOL).

Soul Patts reported its half-year results on 21 March.

Among the highlights, the ASX All Ords share achieved a 10% year on year increase in its portfolio, which reached $11.5 billion (pre-tax net asset value).

Net cash flow from investments was up 6.9% to $263. And while statutory profit of $303 million fell 33.2% year on year, management increased the fully franked interim dividend by 11.1% to 40 cents per share.

Remarkably, that marks 24 consecutive years the company has increased its dividend payouts.

Soul Patts trades ex-dividend tomorrow, on 17 April. So if you want to bank this passive income, you'll need to own shares by market close today.

The Soul Patts share price is up 7% over 12 months, currently at $34.07.

Atop the final dividend of 51 cents per share, paid on 12 December, Soul Patts trades on a fully franked trailing dividend yield of 2.7%.

Which brings us to the second ASX All Ords share trading ex-dividend this week, building materials company Boral Ltd (ASX: BLD).

Boral reported its half-year results on 9 February.

Highlights included a 9.4% year on year increase in revenue to $1.84 billion and a 143% increase in underlying net profit after tax to $139 million.

However, due to a lack of franking credits, the board opted not to pay an interim dividend.

So the payout we're looking at stems from the takeover offer from Seven Group Holdings Ltd (ASX: SVW). On 12 April Boral announced an improved offer from Seven that included a special dividend for shareholders.

This now sees Boral paying a fully franked interim dividend of 26 cents per share.

This passive income is also not going to last long. Boral stock trades ex-dividend tomorrow, so you'll need to own shares at market close today to grab that. This will be paid on 26 March.

The Boral share price is up 54% in 12 months at $6.01.

Also trading ex-dividend this week

Also trading ex-dividend this week is energy stock Horizon Oil Ltd (ASX: HZN).

The ASX All Ords share reported its half-year results on 27 February.

Revenue for the six months came in at US$66 million, down from US$76 million in the prior corresponding half year. Statutory profit after tax also slipped to US$18 million, down from $19 million.

Still, management declared an unfranked dividend of 1.5 cents per share.

Horizon Oil trades ex-dividend on Thursday, meaning you'll need to own shares at market close tomorrow to bank that payout.

The Horizon Oil share price is up 16% over 12 months at 19 cents.

Rounding off our list of stocks trading ex-dividend this week is discount retailer The Reject Shop Ltd (ASX: TRS).

The ASX All Ords share reported its half-year results on 2 February.

Highlights included a 2% year on year increase in sales to $458 million. Net profit after tax went the other way, falling 12.5% to $14 million.

Still, management declared a fully franked interim dividend of 10 cents per share.

The Reject Shop shares trade ex-dividend on Thursday. So you'll want to own shares at market close tomorrow to receive that passive income, which will be paid out on 3 May.

The Reject Shop share price is down 3% over 12 months at $4.43.

The post 4 ASX All Ords shares with ex-dividend dates this week appeared first on The Motley Fool Australia.

Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:

Boral Ltd (ASX: BLD)

The Boral share price is up 2.5% to $6.18. This follows news that the building products company could finally be taken over by Seven Group Holdings Ltd (ASX: SVW). This morning Boral accepted an improved offer from its suitor. It has offered 0.1116 Seven Group shares and $1.70 cash per share, together with a 30 cents per share fully franked dividend to all existing and new shareholders following completion of the offer. Boral's Bid Response Committee's has provided a "unanimous recommendation that Boral shareholders should accept SGH's takeover offer (Offer) or sell their Boral shares on-market."

FBR Ltd (ASX: FBR)

The FBR share price is up 4% to 2.7 cents. This morning, this robotics company announced that its shares have commenced trading on the OTCQB Venture Market on Wall Street. The structure provides U.S. investors with live-market access to OTC-listed securities during North American trading hours, in U.S. dollar denominated terms. Management made the move as it believes that FBR's planned activities in the U.S. will increase exposure and generate increased interest from U.S. domiciled retail and institutional investors. This listing on the OTCQB Venture Market means the company can improve accessibility to FBR for that investor base.

Origin Energy Ltd (ASX: ORG)

The Origin Energy share price is up 2% to $9.72. This has been driven by news that the energy giant is making a major renewable energy acquisition. Origin has entered into an agreement with Virya Energy to acquire its Yanco Delta Wind Farm for up to $300 million. The Yanco Delta Wind Farm is one of the largest and most advanced wind and energy storage projects in New South Wales. Management believes the acquisition will accelerate its strategy to expand renewable energy and storage in its portfolio. The purchase price comprises an upfront payment of $125 million and an additional variable payment of up to $175 million. The latter is conditional on the project achieving certain development milestones.

Regis Resources Ltd (ASX: RRL)

The Regis Resources share price is up 5% to $2.18. This has been driven by another rise in the gold price to a record high. This has lifted the whole sector. So much so, the S&P/ASX All Ordinaries Gold index is up over 1.5% in afternoon trade.

The post Why Boral, FBR, Origin, and Regis Resources shares are pushing higher today appeared first on The Motley Fool Australia.

Most of the time, ASX dividends are used to pay bills, buy more ASX dividend shares, or (less admirably) a big night out.

But today, we've got a reminder that dividends can be used as a dealmaker too.

One of the biggest deals currently sitting on the ASX is the takeover attempt on ASX 200 construction materials company Boral Ltd (ASX: BLD) by Seven Group Holdings Ltd (ASX: SVW). Seven has been after Boral for years now, with the two playing a fairly vigorous game of corporate cat and mouse.

Seven has amassed a stake in Boral of almost 80% over the past year or two but wishes to seal the deal with a full takeover.

Before today, the most recent development was the rejection last month of Seven's full takeover offer of 0.1116 Seven shares, as well as $1.50 in cash, for every Boral share owned. As we covered at the time, this valued Boral at approximately $6.07 a share.

Boral rejected this offer last month, citing concerns that the offer "does not represent appropriate value for minority shareholders".

But it appears that a fresh offer from Seven has finally clinched Boral's approval. The secret ingredient, or sauce, if you will? ASX dividends.

ASX dividends clinch Seven-Boral deal

In an ASX release this morning, Seven detailed an improved offer for Boral shares to 0.116 Seven shares, and a buffed-up $1.70 in cash per share. That $1.70 in cash includes a provision that will see Seven pay all shareholders, existing and new, a special dividend worth 30 cents per share, fully franked, upon completion of the deal.

Boral has also announced that it will pay a fully-franked dividend of 26 cents per share to investors, as well as potentially conducting a $350 million share buyback program on Boral's remaining outstanding stock.

If Boral pays out this dividend, Seven has said that its cash offer per share will reduce to $1.44 per share to reflect this.

In light of these new dividend proposals, as well as the reality that Seven controls nearly four-fifths of Boral's stock, Boral has finally consented to the deal and recommended shareholders vote in favour of it. Here's some of what the company said:

[Boral] believes that the SGH [Seven Group Holdings] Offer represents the most attractive outcome available to Boral Shareholders, particularly when measured against the risks of remaining as a minority shareholder now that SGH has a total interest of 78.8% in Boral.

Accordingly, the [Boral Bid Response Committee] unanimously recommends that Boral Shareholders ACCEPT the SGH Offer or sell their Boral Shares on-market.

So it appears that a slew of new ASX dividends has finally won the day for Seven, and Boral's ASX future now looks limited.

The Boral share price is up 1.82% in response today to $6.14 a share, while the Seven share price is flat at $40.03.

The post Which ASX companies are deploying dividends to secure a $1.9 billion deal? appeared first on The Motley Fool Australia.

At the time of writing, the building materials company's shares are down 1.5% to $6.08

What's going on with the Boral share price today?

This morning, Boral released an update on its takeover approach from major shareholder Seven Group Holdings Ltd (ASX: SVW).

As a reminder, Seven Group has offered 0.1116 shares and $1.50 cash for each Boral share. This equates to approximately $6.068 based on yesterday's prices.

According to the release, the Bid Response Committee (BRC) of Boral has released its Target's Statement in response to the offer from Seven Group.

It notes that based upon Seven Group's Bidder's Statement, 11,660,274 Boral shares have been accepted into the takeover offer since it opened on 4 March. It notes that this represents only 1.06% of Boral's total share capital.

And based on what the BRC is saying, Seven Group may struggle to gain significantly more support from shareholders.

That's because the BRC, chaired by Rob Sindel as lead independent non-executive director, has recommended that Boral shareholders reject the Seven Group offer. This is because of its view that the offer "does not represent appropriate value for minority shareholders."

Accordingly, each Boral director on the BRC who holds Boral shares intends to reject the offer.

Offer 'undervalues Boral'

A spokesperson for the BRC commented:

We have carefully evaluated the SGH Offer and recommend that shareholders should REJECT the SGH Offer as it undervalues Boral. The Independent Expert has concluded that the SGH Offer is neither fair nor reasonable, supporting the BRC's view. Boral management is ahead of schedule in delivering on its 'Good to Great' improvement strategy and is only part way through this journey.

In addition, Boral has today announced that it has surplus property to which Grant Samuel has attributed a value of $1.4 billion to $1.6 billion in its Independent Expert's Report, equivalent to $1.26-$1.44 per share, which we expect to deliver significant value creation to Boral shareholders in the future. We encourage shareholders to remain with Boral and fully participate in the future value available through continued direct ownership of Boral.

The Independent Expert has assessed the offer and concluded that it is not fair. It has estimated the fair market value of the Boral share price to be in the range of $6.50 to $7.13 per share.

This compares to its last close price of $6.18 and the offer price of approximately $6.068.

The post Boral share price falls after rejecting Seven Group takeover appeared first on The Motley Fool Australia.

In some cases, these mega profit gains led to significantly increased dividends for ASX investors, too.

Which ASX shares delivered the biggest profit increases?

Here is a selection of companies that delivered significant profit surges.

Neuren Pharmaceuticals Ltd (ASX: NEU)

The ASX biotech revealed a $157 million profit after tax in FY23, up from just $184,000 in FY22. Last year was a huge year for Neuren, which licenced its first drug, Daybue, to US partner Acadia Pharmaceuticals following FDA approval. The company does not pay dividends.

Origin Energy Ltd (ASX: ORG)

Origin Energy reported an underlying profit of $747 million in 1H FY24, up by almost 1,600% on the $44 million reported for 1H FY23. Earnings in the electricity and natural gas segments increased due to the recovery of higher wholesale costs from previous periods, plus lower fuel costs. Origin shares will pay ASX investors a fully franked interim dividend of 27.5 cents per share, up 66% on 1H FY23.

Flight Centre Travel Group Ltd (ASX: FLT)

Flight Centre reported a 565% lift in its underlying profit before tax to $106 million in 1H FY24. Revenge travel and historically low cost margins of just under 10% contributed to the profit surge. Flight Centre announced its first interim dividend since 2019. It will pay 10 cents per share, fully franked.

AGL Energy Limited (ASX: AGL)

Australia's largest electricity generator reported $399 million in underlying profit after tax, up 358.6% for 1H FY24. AGL said a more stable market and higher wholesale electricity pricing from prior periods flowed through to the bottom line. The ASX utilities share will pay an interim dividend of 26 cents, up 225%.

MMA Offshore Ltd (ASX: MRM)

The marine services provider reported a massive 339% jump in underlying net profit after tax (NPAT) to $39.5 million in 1H FY24. The company said there was stronger demand for its vessels and services. No dividend will be paid.

Inghams Group Ltd (ASX: ING)

Poultry producer Inghams reported a 107.5% increase in underlying net profit to $69.3 million in 1H FY24, driven largely by net selling price growth and operational performance improvements. Inghams shares will pay a fully franked interim dividend of 12 cents per share, up 167%.

Corporate Travel Management Ltd (ASX: CTD)

The corporate travel manager reported an underlying NPAT of $57.9 million, up 162% in 1H FY24 due to new customer accounts, improved efficiency, and better cost controls. The ASX travel share will pay an interim unfranked dividend of 17 cents per share, up 183% on 1H FY23.

Boral Ltd (ASX: BLD)

The building materials company reported an underlying NPAT surge of 143% to $138.6 million for 1H FY24. This was driven largely by strong price realisation, higher revenue and rigorous cost management. The board decided not to pay a dividend because of the company's low franking credit balance.

QBE Insurance Group Ltd (ASX: QBE)

The insurance company reported a 105% rise in adjusted cash NPAT to US$1,362 million for FY23.
This was underpinned by strong premium growth and targeted new business growth. QBE will pay its ASX shareholders a final dividend of 48 cents per share, up 60%.

RPM Automotive Group Ltd (ASX: RPM) 

RPM Global reported a record half NPAT, up 74% to $2.2 million. The company said the change from perpetual to subscription licensing continued to provide both operating and financial leverage to the business. No dividend will be paid.

Macquarie Technology Group Ltd (ASX: MAQ)

The company reported an NPAT of $14.8 million, up 74% on 1H FY23. Macquarie Technology attributed the profit bump to increased earnings, lower interest costs, and lower depreciation and amortisation. No dividend will be paid by this ASX tech share.

Australian Ethical Investment Ltd (ASX: AEF)

The ethical funds manager reported an underlying NPAT of $8.5 million, up 71% in 1H FY24 due to increased customer numbers and net inflows. Funds under management rose 15% to $9.67 billion. Australian Ethical shares will pay an interim dividend of 3 cents per share, up 50%.

The post Which ASX shares delivered the biggest profit jumps of the earnings season? appeared first on The Motley Fool Australia.

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Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:

A2 Milk Company Ltd (ASX: A2M)

The A2 Milk share price is up 14.5% to $5.78. This has been driven by the release of the infant formula company's half-year results. A2 Milk reported a 3.7% increase in revenue to NZ$812.1 million and a 15.6% jump in net profit after tax to NZ$85.3 million. Looking ahead, management has upgraded its FY 2024 revenue guidance to low to mid single-digit growth.

APM Human Services International Ltd (ASX: APM)

The APM share price is up 50% to $1.24. Investors have been buying this human services provider's shares after it received and rejected a takeover approach. CVC Asia Pacific offered to acquire APM by way of a scheme of arrangement for $1.60 per share. This represented a 93% premium to its last close price and valued the company at approximately $1.5 billion. Its board believes the proposal does not sufficiently reflect the fundamental value of APM.

Boral Ltd (ASX: BLD)

The Boral share price is up 4% to $6.08. This follows news that its largest shareholder, Seven Group Holdings Ltd (ASX: SVW), has made a takeover offer. The investment company is looking to acquire the building materials company for up to $6.25 per share in scrip and cash.

Reliance Worldwide Corporation Ltd (ASX: RWC)

The Reliance Worldwide share price is up 6% to $4.67. This morning, this plumbing parts company released its half-year results and revealed a 2% decline in sales but a modest lift in net profit after tax. This appears to have been better than the market was expecting.

The post Why A2 Milk, APM, Boral, and Reliance Worldwide shares are pushing higher today appeared first on The Motley Fool Australia.

In morning trade, the building materials company's shares are up 3.5% to $6.05.

This compares to the ASX 200 index, which is up 0.1%.

Why are Boral shares outperforming the ASX 200?

Investors have been buying the company's shares this morning after it received a takeover offer from its largest shareholder, Seven Group Holdings Ltd (ASX: SVW).

According to the release, the investment company, which owns over 70% of Boral, has tabled a $6.05 per share offer to take full control. This comprises 0.1116 Seven Group shares and $1.50 cash per share.

This represents a modest 3.5% premium to where Boral shares ended the week on the ASX.

But the price may not stay there. The release notes that the offer price will increase to a maximum of $6.25 per share if it reaches the 90.6% compulsory acquisition threshold.

If that happens, it would mean a more palatable 6.8% premium to where Boral shares last traded.

But don't expect a better offer any time soon. It advised that "it will not acquire Boral Shares for an amount in excess of $6.25 for at least 12 months following the close of the Offer."

Seven Group's CEO, Ryan Stokes, commented:

Today's announcement represents an exciting opportunity to integrate Boral into SGH's leading Industrial Services portfolio. The transaction has a compelling rationale for SGH, and for Boral's shareholders, who would become SGH shareholders as part of the transaction and continue to benefit from the operational improvement journey underway at Boral. The terms of the Offer reflect our disciplined approach to capital allocation, and we will retain a strong balance sheet position post-transaction.

Boral says take no action

As things stand, Boral is advising its shareholders to take no action.

Shareholders are advised to take no action in relation to the Offer, or any correspondence received from SGH, until they receive further information from Boral in relation to the Offer.

A board committee of Boral's independent directors has been established and is currently considering the offer.

The post Why are Boral shares outperforming the ASX 200 today? appeared first on The Motley Fool Australia.

Will the market be able to build on this on Monday? Here are five things to watch:

ASX 200 expected to open flat

The Australian share market looks set for a subdued start to the week despite a reasonably positive finish on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day flat. On Friday on Wall Street, the Dow Jones was down 0.15%, but the S&P 500 rose 0.6% and the Nasdaq jumped 1.25%.

Oil prices rise

ASX 200 energy shares including Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS) could start the week positively after oil prices rose on Friday night. According to Bloomberg, the WTI crude oil price was up 0.8% to US$76.84 a barrel and the Brent crude oil price was up 0.7% to US$82.19 a barrel. Oil prices rose amid rising tensions in the Middle East.

JB Hi-Fi results

JB Hi-Fi Limited (ASX: JBH) shares will be on watch today when the retail giant releases its half year results. Morgans sees scope for JB Hi-Fi to surprise to the upside. It said: "We think there's a good chance JB Hi-Fi could surprise positively in its 1H24 result. We forecast EBIT of $371.0m, 4% above consensus of $358.2m."

Gold price falls

ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could trade lower after the gold price fell on Friday. According to CNBC, the spot gold price was down 0.45% to US$2,038.70 an ounce. Rising bond yields reduced the appeal of the precious metal.

Boral rated as a sell

Boral Ltd (ASX: BLD) shares are overvalued according to analysts at Goldman Sachs. According to a note, the broker has reiterated its sell rating on the building materials company's shares with a $5.40 price target. Goldman said: "Although the turnaround has gained momentum, the upside appears to be substantially priced into the stock suggesting near flawless execution is required."

The post 5 things to watch on the ASX 200 on Monday appeared first on The Motley Fool Australia.

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Four ASX shares that are rising more than most today are listed below. Here's why they are charging higher:

Boral Ltd (ASX: BLD)

The Boral share price is up almost 10% to $5.93. Investors have been buying this building materials company's shares after it released its half year results. Boral reported a 9% increase in revenue to $1,839.9 million and a 143% jump in underlying net profit after tax to $138.6 million. This stronger than expected half allowed management to increase its FY 2024 EBIT guidance.

Dicker Data Ltd (ASX: DDR)

The Dicker Data share price is up 2% to $11.43. This follows the announcement of the computer hardware and software distributor's latest dividend. Dicker Data will pay a fully franked final quarterly dividend for FY 2023 of 15 cents per share. The record date will be 15 February and the payment date will be 1 March.

DroneShield Ltd (ASX: DRO)

The DroneShield share price is up 17% to 69 cents. This is despite there being no news out of the counter drone technology company. However, it is worth noting that the Australian Government announced a major investment in combat drones today. This demonstrates the growing importance of Droneshield's technology.

Novonix Ltd (ASX: NVX)

The Novonix share price is up almost 15% to 70.5 cents. This morning, this battery materials technology company announced a binding off-take agreement with leading electric vehicle (EV) batteries manufacturer, Panasonic Energy. The agreement is for high performance synthetic graphite anode material to be supplied to Panasonic Energy's North American operations from Novonix's Riverside facility in Tennessee.

The post Why Boral, Dicker Data, Droneshield, and Novonix shares are charging higher appeared first on The Motley Fool Australia.

In morning trade, the building materials company's shares are up 13% to a 52-week high of $6.10.

This follows the release of a strong half-year result.

Boral share price jumps on strong profit growth and guidance upgrade

Here's a summary of how the company performed during the six months ended 31 December:

• Revenue up 9.4% to $1,839.9 million
• Underlying EBIT up 110.9% to $201 million
• Underlying net profit after tax up 143% to $138.6 million
• No interim dividend
• FY 2024 EBIT guidance upgraded

What happened during the half?

During the first half, Boral's revenue increased 9.4% to $1,839.9 million. This was driven largely by strong price realisation, with volumes flat to slightly up on the prior corresponding period.

And thanks to a 520 basis-point improvement in its EBIT margin, Boral's EBIT was up a massive 110.9% to $201.0 million. This margin improvement reflects a combination of higher revenue and rigorous cost management.

Finally, although the company's underlying profit after tax increased by 143.9% to $138.6 million, the Boral board decided against paying a dividend. It advised that this was due to its low franking credit balance.

Management commentary

Boral's CEO, Vik Bansal, was pleased with the company's performance. He said:

I am pleased to report first half results that demonstrate the benefits of our operating model and our business improvement strategy. Our volumes were flat to slightly up on pcp, with an increase in quarry and recycling materials. We achieved good price realisation across all product lines, and this supported growth in net revenue.

We also continued to reduce costs and instil operational efficiencies to offset input cost inflation. The combined improvements in price and cost efficiencies, together with a mix in volumes that were flat to slightly higher, enabled an EBIT margin of 10.9%, almost double pcp.

Outlook

Bansal advised that the company is expecting that its earnings will be weighted to the first half as per tradition. He said:

Boral's earnings have historically been weighted towards the first half. While FY23 was a recent exception to this trend, with the introduction of a new operating model and strategy in 1H23, we expect to return to a typical first half weighting in FY24.

Nevertheless, the CEO expects the company's EBIT to be stronger than previous guidance.

He now expects FY 2024 underlying EBIT to be in the range of $330 million to $350 million. This compares favourably to its previous guidance of $300 million to $330 million. It will also be a significant 42% to 51% increase on FY 2023's EBIT of $231.5 million.

Following today's gain, the Boral share price is now up 60% since this time last year.

The post Boral share price jumps 13% on massive profit growth and guidance upgrade appeared first on The Motley Fool Australia.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

To set the scene, the S&P/ASX 200 Index (ASX: XJO) pushed 7.8% higher last year. Among the 200 constituents, 17 companies graced their shareholders with mindboggling returns above 50% during the 12-month timeframe.

The Aussie investment handing out the greatest return in 2023 was Neuren Pharmaceuticals Ltd (ASX: NEU), with a jaw-dropping 214% gain. However, shareholders were subjected to enormous single-day moves in the process. Shares in the neurological drug developer rocketed 72.5% in a single session.

Not everyone can, nor wants to, stomach an investment capable of moving at that pace.

So, was there an alternative in 2023?

The quiet achievers of 2023

After compiling the top-performing ASX 200 shares of last year, I calculated their respective annualised volatilities. This essentially quantifies the magnitude and regularity of share price movements every week for the entire year.

Although Neuren took out the top spot for returns in 2023, it also racked up the highest volatility among top-performing peers. Instead, most of us desire large returns and little volatility. In this area, both James Hardie and Emerald Resources provided more appealing return-to-volatility ratios.

For instance, the building materials company — James Hardie — achieved more than half the return of Neuren at nearly a third of the volatility. Similarly, the gold explorer — Emerald Resources — provided 72% of Neuren's return with less than half the volatility.

If maximising the smoothness of the journey was the goal, Seven Group, Smartgroup, and Pro Medicus coasted through 2023 with far fewer unsettling share price swings.

Impressively, Seven Group — an Aussie investment group housing media, mining, and construction businesses — still outpaced the index by nearly tenfold despite it generating roughly only twice the bumpiness of the ASX 200.

Benefits of less volatile ASX 200 shares

The obvious perk of reduced volatility is less time feeling like your heart is in your throat. Investing can induce emotionally charged decisions in even the most experienced partakers. A high level of volatility can emphasise this more so.

If a company's share price tends to move slowly, it could mean a better night's sleep and a more rational approach. It's often those sudden and dramatic price changes that invoke regrettable reactions.

Finally, research suggests low volatility stocks historically deliver similar or better returns to their wayward counterparts. Did someone say, "Have your cake and eat it, too"? But, it's important to remember that past volatility will not inform future volatility.

The post Top-performing ASX 200 shares of 2023 without stomach-churning volatility appeared first on The Motley Fool Australia.

In this article, we investigate the numbers further to reveal the top 10 ASX 200 shares for capital gains vs. the top 10 suburban property markets of Australia's capital cities and regional areas.

Let's take a look.

Top 10 suburbs for real estate investment in 2023 (capital cities)

Here are the top 10 suburbs for capital growth across Australia's capital city property markets in 2023.

Top 10 suburbs for real estate investment in 2023 (regions)

Here are the top 10 suburbs for capital growth across Australia's regional property markets in 2023.

Top 10 ASX 200 shares of 2023

Here are the top 10 ASX 200 shares for capital growth in 2023.

If you're considering investing in shares vs. property, check out our article on the opportunities of 2024.

mid-cap healthcare stocks. However, those that achieved material commercial milestones have generated positive shareholder returns in the last six months (NEU, DXB, 4DX and PME). With many companies currently trading at depressed valuations, there are stock picking opportunities for those with solid balance sheets to ride out the cyclical downturn and clear catalysts to drive momentum.The new class of GLP-1/GIP drugs continue to dominate news flow for their impact on weight loss and other health outcomes (e.g. lowering cardiovascular events). There is little doubt these drugs will form one of the biggest selling classes to date, with both Novo Nordisk and Eli Lilly unable to keep up with demand. ASX large-cap healthcare companies, including RMD and CSL were sold off as investors drew read throughs for what these drugs could mean for long term demand growth. Fortunately there were no adverse impacts on companies in our coverage and data suggests the sell off in large cap stocks has been overdone in any case

The post Best ASX 200 shares vs. best suburbs for property investment in 2023 appeared first on The Motley Fool Australia.

The S&P/ASX 200 Index (ASX: XJO) rose from a closing value of 7,020.1 points on the last trading day of 2022 to a closing value of 7,590.8 points on the last trading day of 2023, delivering an 8.1% gain.

Meantime, CoreLogic's national Home Value Index, which incorporates all types of dwellings across the country, also rose by 8.1%.

But if we dig deeper and look at the capital growth rates of the top five ASX 200 shares vs. the capital city and regional property markets, we see a major divergence in the numbers.

Let's take a look.

Best performing property markets of 2023

Here we compare the capital growth of dwellings in the city and regional property markets in 2023.

Best performing ASX 200 shares of 2023

Here we compare the capital growth of the top five ASX 200 shares in 2023.

My Fool colleague James reports on the key drivers for these particular ASX 200 shares in 2023.

If you're considering a new investment in shares vs. property, check out our article on the opportunities of 2024.

mid-cap healthcare stocks. However, those that achieved material commercial milestones have generated positive shareholder returns in the last six months (NEU, DXB, 4DX and PME). With many companies currently trading at depressed valuations, there are stock picking opportunities for those with solid balance sheets to ride out the cyclical downturn and clear catalysts to drive momentum.The new class of GLP-1/GIP drugs continue to dominate news flow for their impact on weight loss and other health outcomes (e.g. lowering cardiovascular events). There is little doubt these drugs will form one of the biggest selling classes to date, with both Novo Nordisk and Eli Lilly unable to keep up with demand. ASX large-cap healthcare companies, including RMD and CSL were sold off as investors drew read throughs for what these drugs could mean for long term demand growth. Fortunately there were no adverse impacts on companies in our coverage and data suggests the sell off in large cap stocks has been overdone in any case

The post ASX 200 shares vs. property: Which delivered the best growth in 2023? appeared first on The Motley Fool Australia.

Over the period, the benchmark index rose 7.8% to end the period at 7,590.8 points.

And if you throw in the average dividend yield of approximately 4%, the total annual return came to around 12%.

While this is a good return, it pales in comparison to some of the gains that were made on the ASX 200 during the 12 months.

For example, listed below are the five best-performing ASX 200 shares for the period. Here's how they performed:

Neuren Pharmaceuticals Ltd (ASX: NEU)

The Neuren share price was the best performer on the ASX 200 index in 2023 with a 214% gain. There were a number of catalysts for this strong gain. The first was the approval and strong initial sales of its Daybue product for the treatment of Rett syndrome. And late in the year, the market responded very positively to the release of top-line results from its Phase 2 clinical trial of NNZ-2591 in children with Phelan-McDermid syndrome (PMS). There are currently no approved treatments for PMS.

Emerald Resources NL (ASX: EMR)

The Emerald Resources share price was also a strong performer and rose 155% over the period. Investors were buying the gold miner's shares following a strong operational performance in FY 2023 and so far in the current financial year. In addition, a solid rise in the gold price gave the whole sector a major boost.

James Hardie Industries plc (ASX: JHX)

The James Hardie share price wasn't far behind with a gain of almost 117% in 2023. A solid performance in FY 2023 and a better-than-expected start to the new financial year helped drive its shares higher. It is also worth remembering that 2022 was not a great year for the building materials company's shares. So much so, that they started 2023 at a 52-week low.

Boss Energy Ltd (ASX: BOE)

The Boss Energy share price was on fire over the 12 months with an 89% gain. Investors were scrambling to buy Boss and other ASX uranium shares after the price of the chemical element rose to its highest level in a decade. And with nuclear power adoption expected to increase over the next decade and supply struggling to keep up, prices are expected to continue to rise in the coming years.

Boral Limited (ASX: BLD)

The Boral share price was just a touch behind with a gain of 86% over the period. Much like James Hardie, this gain was driven by a combination of a solid performance in FY 2023 and a low starting point. Boral's shares also started the year at a 52-week low and it was onwards and upwards from there. Particularly after management upgraded its FY 2024 guidance thanks to price traction and cost management across each of Boral's businesses.

The post Can you guess which were the best-performing ASX 200 shares in 2023? appeared first on The Motley Fool Australia.