LA Private

February 2024

BlueScope Steel reports 27% fall in first-half profit amidst market volatility

As expected, steelmaker BlueScope Steel (ASX:BSL) experienced a 27% decline in first-half profit due to volatile market conditions, sluggish economic growth, and high inflation and interest rates. Directors anticipate another period of lower earnings in the current June half, albeit possibly not as significant as the previous December half. Despite this outlook, BlueScope maintained an

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Westpac attributes minor decline in first quarter profit to accounting rules

Westpac Banking Corp (ASX:WBC) has attributed a slight decrease in its unaudited first-quarter net profit to accounting rules governing financial hedges. The country’s second-largest bank stated that while these hedges will reverse over time, their adjustment impacted the first-quarter figures, resulting in a lower performance compared to the preceding six-month quarterly average. The bank reported

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RWC’s acquisition strategy and dividend adjustment

Last week, the global plumbing supplies and services group RWC (ASX:RWC) revealed its $160 million purchase of the Australian company Holman Services, which operates in adjacent sectors. On Monday, RWC reported lower revenue and earnings for the December half-year and maintained guidance for similar performance over the year to June. However, it announced a significant

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A2 Milk reports strong first-half profit growth despite challenges in Chinese market

Kiwi dairy group A2 Milk (ASX:A2M) announced on Monday that its first-half profit surged by a solid 15.6%, driven by increased demand in China, other Asian markets, and the US. The company has revised its full-year revenue growth forecast slightly upward, attributing it to sustained growth in China, which now constitutes about 80% of its

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