Company Updates

The latest company news for FIIG clients.

  • Banking on a slowdown

    Apr 02, 2020
    In this note, we take a look at the health of the Australian banking sector and how it is positioned to absorb the invariable rise in credit costs as businesses shutter and unemployment rises.
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  • WA Stockwell Update - 18 March 2020

    Mar 25, 2020
    We provide an update following 1H20 results and settlement of Noosa Civic Shopping Centre
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  • Next Generation Update - 24 March 2020

    Mar 25, 2020
    We provide an update following government mandated shutdown of non-essential services.
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  • Sunland Group Update - 24 March 2020

    Mar 25, 2020
    We provide an update following recent results from Sunland.
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  • The RBA goes unconventional

    Mar 20, 2020
    We look at the RBA’s latest series of decisions and implications.
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  • Pioneer Credit – 1H20 Results and Sale Update

    Mar 06, 2020
    On 28 February 2020, Pioneer Credit Ltd. released its financial results for the six months ended 31 December 2019 which were impacted by funding constraints that were placed on the Company during the period.
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  • IMF Bentham – 1H20 Results

    Mar 06, 2020
    IMF’s 1H20 results provided very few surprises, underpinned by a number of case wins, with gross proceeds from litigation cases of AUD143m. We also note that as of 5 March, 2020, IMF officially changed its name to Omni Bridgeway Limited.
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  • Zip Co - 1H20 Results

    Mar 06, 2020
    On 27 February 2020, Zip Co Ltd released results for the first six months ended 31 December 2019. Momentum remains strong, with asset quality also remaining sound.
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  • CML - 1H20 Results

    Mar 06, 2020
    On 28 February 2020, CML Group Limited (CML) released results for the first six months ended 31 December 2019. Overall performance was sound and largely in line with expectations.
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  • NEXTDC - 1H20 Results

    Mar 03, 2020
    We provide an update following NextDC’s 1H20 results.
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  • David Jones 1H20 Results

    Feb 28, 2020
    We provide an update on David Jones following 1H20 results, which were comparatively softer owing to 1H19 following lower foot traffic from bushfires and softer consumer confidence.
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  • Ovato 1H20 Results

    Feb 28, 2020
    We provide an update following 1H20 results from Ovato.
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  • Seek 1H20 Results

    Feb 28, 2020
    We provide an update an update on Seek following 1H20 results.
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  • Elanor Investors Group 1H20 Results

    Feb 24, 2020
    On 17 February 2020, Elanor Investors Group (Elanor, Company) announced 1H20 results. During 1H20, Elanor grew funds under management (FUM) by acquiring new real estate assets and establishing new funds, including Elanor Wildlife Park Fund. Growth in FUM supported core earnings growth, as Elanor receives fees for meeting performance hurdles of managed assets. On a like-for-like basis, costs were broadly in line with 1H19 and the Company remains compliant with all its covenants.
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  • Maurice Blackburn 1H20 Results

    Feb 20, 2020
    On 14 February 2020, Maurice Blackburn (MB, Company) announced 1H20 results for the six months ended 31 December 2019. Total revenue, consisting of service and litigation revenue, was broadly in line with 1H19. However, MB reported lower NPAT in 1H20, owing to a large one-off adjustment which related to how the Company calculates exit payments in 1H19. Given the seasonality in revenue we expect 2H20 to be stronger for MB. Furthermore, we expect stronger free cash flow generation driven by improvements in working capital, as the Company is expected to experience a significant reduction of work in progress.
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  • Next Generation Clubs (NextGen) FY19 Results

    Feb 19, 2020
    We provide an update on Next Generation following FY19 results and commencement of construction at Doncaster.
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  • Mercer FY19 Results

    Feb 14, 2020
    On 14 February 2020, Mercer International (Mercer, Company) announced FY19 results. Results were mixed, with the Company reporting growth in revenues. However, increased maintenance downtime and higher operating costs led to sharp declines in EBITDA and a net loss for FY19. While liquidity remains sound, Mercer reported softer credit metrics.
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  • AMP FY19 Results

    Feb 14, 2020
    On 13 February 2020, AMP Limited (AMP, Company) reported its full-year results for the year-ended 31 December 2019 (FY19). The Company reported a headline net loss after tax of AUD2.5bn, stemmed from a predominantly non-cash impairment of AUD2.4bn previously announced.
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  • Centuria Capital Group 1H20 Results

    Feb 13, 2020
    On 12 February 2020, Centuria Capital Group (Centuria, Group) announced its 1H20 results. Results were relatively stronger, representing significant growth in Centuria's assets under management. While reducing debt, the Group also recorded growth in revenues, net operating profit and cash flow from operations. Centuria also announced it had entered into an agreement to acquire a real estate funds management company in New Zealand.
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  • Geo Group FY19 Results

    Feb 13, 2020
    On 13 February 2020, The Geo Group Inc (GEO, Company) announced FY19 results for the 12 months ended 31 December 2019. Despite headwinds in the form of political scrutiny and reduced support from financial institutions, results were sound. GEO reported revenue growth whilst improving its credit metrics. Additionally, the Company entered into new contracts with government departments whilst broadly maintaining the number of revenue generating beds.
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