Stocks of the Hour: CSL, Treasury Wine Estates & Vicinity

Thanks for tuning in to Stocks of the Hour. I’m Lauren Evans.

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CSL (ASX:CSL) has declared the same interim dividend from a year ago despite profit falling during the first half of the 2022 financial year amid the pandemic. The bio-tech giant declared an interim dividend of $1.04 and a net profit after tax of US$1.76 billion, down 3 per cent from the prior year period. CSL said the results were in line with expectations, although it had experienced growth in a number of its products. Shares are trading 6.5 per cent higher at $258.82

Treasury Wine Estates (ASX:TWE) reported a fall in sales revenue, impacted by the US commercial portfolio divestment in March last year, the decline in shipments to Mainland China, and reduced commercial volumes in the UK and Australia. Its net sales revenue declined 10.1 per cent to $1,267 million. The company said the decline was partly offset by strong premium portfolio performance and reduced cost of doing business. Shares are trading almost 10 per cent higher at $11.59.

Vicinity (ASX:VCX) has unveiled a return to interim profit, thanks to a boost in property revaluations. However, the shopping centre's owner has flagged that pandemic related challenges continue to loom into the second half. The group reported net profit after tax of $650.2 million for the six months to December, a rebound from its $394 million loss in the prior corresponding period. An interim dividend of 4.7 cents per share is set to be paid in March. Shares are trading 9.2 per cent higher at $1.83.
Copyright 2022 – Finance News Network

Source: Finance News Network