Company updates
Company updates
Ausdrill has released its FY16 result, with revenues up by 3.3% to $743.9m. The integrated mining and energy services group achieved a significant turnaround in earnings, delivering a profit from continuing operations of $20.2m (up 112.8%). Its reported net profit after tax of $58.2m includes $35.7m profit from the sale of non core businesses
Company updates
Qantas delivered its FY16 results, with a record underlying profit before tax of $1.53bn, up 57% on the prior year and only slightly below consensus forecast of $1.57bn
Company updates
Even though inflation is low, Sydney Airport’s performance and the high real yield available on the inflation linked bonds means the bonds should be a core holding in most portfolios
Trade opportunities
Fortescue bonds have experienced impressive capital price growth since January lows and are now trading at a premium to par, offering significant returns for investors
Company updates
BlueScope full year results were impressive with net profit after tax up 119% to $570.5m. The 2018 and 2021 bonds continue to rally with the 2018 bonds expected to be called on 1 November 2016. The current price of the bond is a little over the call price and active traders may want to consider moving now
Company updates
Newcrest released its full year results to the market on 15 August 2016
Company updates
On 8 August 2016, IAMGOLD announced an equity raising of approximately USD200m, or 38.85m common shares at a price of $5.15 per share
Company updates
Adani Abbot Point Terminal (‘AAPT’) announced a tender offer for holders of its outstanding $500m (US$380m) bonds due 1 November 2018 to purchase up to an aggregate cash amount of $75m
Company updates
On 5 August 2016, Virgin released its full year results to the market