ZipCo’s (ASX:Z1P) revenue rose 130% for H1 FY21: ASX closes 0.8% higher

25Feb

ZipCo’s (ASX:Z1P) revenue rose 130% for H1 FY21: ASX closes 0.8% higher

 

It has been a positive day of trade for the Australian share market hitting its highest point for the week. Nine out of the 11 sectors were higher with Materials rising 1.7 per cent. Sandfire Resources (ASX:SFR) rose 11.1 per cent after reporting a 78 per cent increase in their half year net profit results while Service Stream (ASX:SSM) was the worst performing stock on the back of their half year revenue numbers released yesterday.

At the closing bell the S&P/ASX 200 index closed 56 points higher or 0.8 per cent to finish at 6,834.

Futures market 

Dow futures are suggesting a rise of 110 points.
S&P 500 futures are eyeing a rise of 11 points.
The Nasdaq futures are eyeing lift of 39 points.
ASX200 futures are eyeing a 70 point rise tomorrow.

Economic news

The Australian Bureau of Statistics has released data for the December quarter for capital expenditure on buildings and equipment. New capital expenditure rose 3 per cent quarter-on-quarter to $29.4 billion in the three months to December 2020 after a 3 per cent drop in the previous quarter. Buildings and structures rose to 0.7 per cent from -3.6 per cent and equipment, plant and machinery rose to 5.7 per cent.

Company news

ZipCo (ASX: Z1P) reports a 130 per cent increase in their revenue to $160 million for the first half of financial year 2021, compared to the previous year. Part of their growth was driven by a 42 per cent increase in revenue by their Australian consumer business with $57.6 million in revenue generated by US based, QuadPay in the period following their acquisition on 31 August 2020. The company did report a loss of $453.8 million compared to the $30.3 million loss the year before on the back of their revaluation of their acquisition of QuadPay in the US. The company will not be paying an interim dividend. Shares in ZipCo (ASX: Z1P) closed 7.7 per cent lower at $10.95.

Flight Centre (ASX:FLT) reports a $233.5 million loss compared to the $22 million dollar profit for its first half of the financial year 2021, compared to the previous year. Revenue came in at $160 million, down 89.7 per cent from last year's $1.5 billion. On the positive side, the company did report that revenue reached a Covid-19 period of $33.5 million in December, which is normally one of the quietest trading months. The company will not be paying an interim dividend. Shares in Flight Centre (ASX:FLT) closed 8.9 per cent higher at $17.79.

The a2 Milk Company (ASX:A2M) experienced a challenging first half with net profit after tax down 35.1 per cent to $120 million. Covid-19 disrupted the company’s daigou and reseller channel restricting travel between here and China.

Afterpay (ASX:APT) shares were in a trading halt today as the company announces a $1.5 billion capital raising to increase their stake in Afterpay US from 80 per to 93 per cent. The company also reported a net loss attributable to the ordinary shareholders of 165 per cent to $76.5 million compared to a loss of $28.9 million at the last half.

Qantas (ASX:QAN) reports a net loss of $1.08 billion for the first half of the 2021 financial year, down 342.9 per cent. The company expects international travel to resume in October.

Best and worst performers of the day

The best performing sector was Materials adding 1.7 per cent while the worst performing sector was Industrials shedding 0.7 per cent.

The best performing stock in the S&P/ASX 200 Sandfire Resources (ASX:SFR) rising 11.1 per cent to close at $6.20. Shares in Nanosonic (ASX:NAN) and Clinuvel Pharmaceuticals (ASX:CUV) followed higher.

The worst performing stock in the S&P/ASX 200 was Service Stream (ASX:SSM),dropping to 21.4 per cent to $1.34. Shares in A2 Milk (ASX:A2M) and Regis Resources (ASX:RRL) followed lower.

Asian markets 

Higher: Japan’s Nikkei has added 1.5 per cent, Hong Kong’s Hang Seng has added 2.2 per cent and the Shanghai Composite has gained 1.1 per cent.

Commodities and the dollar

Gold is trading at US$1,797 an ounce.
Iron ore price fell 0.2 per cent to US$172.71. Its futures are pointing to a rise of 2.95 per cent.
Light crude is 8 cents down to US$63.17 a barrel.
One Australian dollar is buying 79.71 US cents. 
Copyright 2021 – Finance News Network


Source: Finance News Network

Share this post

Related Posts

03Sep

Financials defy recession odds: Aus shares close 0.8% higher

03 Sep 2020 - The Australian share market shot up at the open following strong performance levels on Wall Street, especially record highs on the Nasdaq and S&P 500. Australia has recorded a $4.6 billion trade surplus for July, a drop of $3.5 billion. The big four banks all made gains of up to 2 per cent, as financials closed 1.3 per cent higher to keep the ASX in positive territory.

Read More
15Feb

S&P 500 falls for 4th week on Wall St slump, Ukraine & Russia war fears loom: ASX to fall

14 Feb 2022 - Mounting tension between Russia and Ukraine spurs market sell off and treasury yields to recover. Weekly review on Wall and ASX. What to look out for this week as more central bankers are set to speak.

Read More
24Aug

Lithium boom outperforming weaker equity markets

24 Aug 2022 - Lithium stocks performed stronger overnight relative to weaker equity markets. If the results of Australian based Pilbara Minerals is anything to go by, then 2021-22 is shaping up to be the year when the long talked about lithium boom has became very real and very profitable.

Read More
26May

Wall St loses momentum, gold climbs near 4-month high: ASX to fall

26 May 2021 - The ASX is set to fall following Wall St closing in the red as all three indexes reversed their gains. Morgan Stanley rates Synlait Milk (ASX:SM1) as a hold with a price target of $2.55. Profit results from ALS (ASX:ALQ) and Mesoblast (ASX:MSB) are due today.

Read More
23Dec

Restaurant Brands New Zealand (ASX:RBD) buy 70 KFC stores in California: ASX set to open lower

23 Dec 2019 - The ASX looks set to open lower this morning. There is no local data expected for this week as businesses slow down for the Christmas break. On Friday, Chinese leader Xi Jinping said the “phase one” trade deal is beneficial to both China and the US and the whole world. Restaurant Brands New Zealand (ASX:RBD) has today entered into an asset purchase agreement with a KFC US franchisee for the purchase of 70 stores.

Read More
22Jun

Materials lift local bourse as travel stocks head south on COVID-19 resurgence: ASX closes 0.03% higher

22 Jun 2020 - The local share market opened lower this morning, picked up pace at lunchtime and then pared gains in late trade to end the session ever so slightly higher by 0.03 per cent at 5945.

Read More
19Dec

Aus shares give up gains after better-than-expected jobs numbers decrease Feb rate cut chances: Aus shares up 0.1%

19 Dec 2019 - Australian shares have given up gains made in early trade after stronger-than-expected jobs data has reduced the chances of the Reserve Bank cutting rates in February. Photo sharing company Tinybeans (ASX:TNY) has capped off its biggest year yet doubling its advertising revenue to around $3.5 million.

Read More
01Aug

Wall St rises on disappointing GDP growth, Marley Spoon serves mixed results, Why Flight Centre is a hold: ASX poised to edge higher

30 Jul 2021 - Global stocks rallied as earnings season continued amid positive economic data in Europe, though mixed numbers in the U.S. Asian markets climbed after their recent panic selling. Coverage of U.S. GDP and jobless claims, Biden’s vaccine requirement & tech titan’s mandate. Earnings figures from Yum Brands, Pinterest & Robinhood’s underwhelming debut. Marley Spoon (ASX:MMM) plated mixed results. Why UBS rates Flight Centre (ASX:FLT) as a hold.

Read More
06Mar

Global stocks plunge on virus fears: ASX poised to open lower

06 March 2020 - Following negative leads from US markets, the ASX looks set to open lower this morning. Stocks plunged in the US erasing most of the gains from earlier in the week. Coronavirus continues to spread with US deaths on the rise. European stocks tumbled. WCM Global Growth’s (ASX:WQG) portfolio returned -1.79 per cent for the month ended February 2020.

Read More
17Dec

Household wealth increased 1.7% to record high: ASX tracking 0.7% higher

17 Dec 2020 - The ASX opened higher this morning with the S&P/ASX 200 Index 45 point higher or 0.7% higher at 6724. Futures are pointing to a rise of 42 points. Freedom Foods Group (ASX:FNP) is to sell its cereal and snacks operations to The Arnott’s Group.

Read More