HomeCo Daily Needs REIT (ASX: HDN): The REIT upgraded its FY22 [pro forma] funds from operations (FFO) guidance to 9.3 cents, a 4.5% increase on former guidance.
The company notes the FFO guidance of 9.3 cents includes $100m of new debt funded acquisitions which are expected to be completed in the second half of FY22.
In the first half, the REIT reported FFO of $30.6m, up 121% on the previous period.
FFO a unit was up 38% to 4 cents. At half year, the REIT’s pro forma net gearing was 32.2%, lower than 35% in June.
The REIT’s share price was up around 2% at noon today.
Wisetech Global (ASX: WTC): While the provider of software solutions reaffirmed revenue guidance, FY22 earnings guidance increased by $10-$15m to $275-$295m.
First half FY22 net profit was up 74% to $77.4m - a beat against consensus estimates ($73.0m), and revenue of $281m was up 18% on the previous period (incl FX).
Other highlights with the first half result included:
Earnings up 54% to $137.7m
Free cash flow up 85% to $90.3m
Interim dividend – the biggest on record – up 76% to 4.75 cents per share.
The share price was up 2.2% at noon.
Coronado Global Resources (ASX: CRN): Within today’s FY21 result, the met coals producer announced that full-year saleable production will increase to 18m - 19m metric tonne (MMt), up from 17.4MMt in 2021.
In a major about face from the year prior, the company delivered a net profit of US$189.4m – versus a previous loss of -US$226.5m – and was a beat against both Bell Potter and consensus forecasts.
Much of the turnaround can be attributed to a met coal – aka coking coal - price of US$138 a tonne, up 52%.
Capex will be US$170m to US$190m, targeting increased tonnage and production from future cost increases, US$91.1m last year.
After paying a dividend of US9 cents during the first quarter of 2022, the company expects to maintain its net cash position, plus an offering of US$100m in notes.
The share price was up around 3.67% at noon today.
Charter Hall Retail REIT (ASX: CQR): The REIT has upgraded its FY22 earnings guidance to be no less than 28.4 cents a unit, compared with former guidance of no less than 28.2 cents a unit.
As a result, FY22 distributions a unit are now expected to be no less than 24.5 cents a unit, which is an upgrade from previous guidance of no less than 24.3 cents a unit.
The company delivered a first half 2022 Net profit after tax (NPAT) of $368.6m, up $285.8m on previous period.
Net Tangible Assets (NTA) per unit of $4.54, were up 13.2% from $4.01 at June 2021.
The share price was up 0.61% at noon today.
Pexa Group (ASX: PXA): The operator of Australia’s digital property settlement platforms upgraded its full year revenue forecast to $275m from its prospectus projection of $246.9m.
PEXA Exchange earnings were also upgraded to $140m-$150m from $126,3m.
The company is also targeting net profit after tax (NPAT) of $95m-$105m, up from $75.6m.
Highlights within the first half FY22 result included a 46% increase in revenue to $145.4m, PEXA Exchange earnings were up 76% to $83.2m, and net profit of $9.7m versus a former loss of -$1.6m.
Commenting on the 1H22 results, PEXA Group Managing Director and CEO Glenn King said:
“We now expect to materially exceed previous Prospectus guidance across FY22 and have increased guidance across all key earnings metrics. Our plans for the UK are on-track and we expect ‘go live’ later this calendar year.”
The share price was up 14.26% at noon today.
PSC Insurance Group (ASX: PSI): Due to a much stronger than expected FY22 first half result, the company upgraded its full year guidance by 5% to underlying earnings range of $87m-$92m (from $84m-$89m), and underlying net profit to a range of $57m-$61m (previously $54m-$58m).
Net profit for the half was up 61% to $27.6m and was a substantial beat against both Bell Potter and consensus estimates.
Highlights within the result included:
A 28% increase in underlying revenue to $119.7m
A 42% increase in underlying earnings (EBITDA)1 to $40.7m
A dividend of 4.5 cents for the period
Management noted: “The company continues to progress a number of acquisition opportunities and we are increasingly being seen as a strong partner to sell to in our core Australian and UK markets.”
The share price was up around 6% at noon.
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