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

19Mar

KGL Resources (ASX:KGL) raises $21.57M: Aus shares shed 0.9% over week

19 Mar 2021 - Australian shares fell at the open following negative leads from the US overnight. They continued to sink in early trade. The market managed to shrug off weaker than expected preliminary retail trade data and staged a valiant attempt at a recovery in the second half of the session. But this wasn’t enough to move the S&P/ASX200 into positive territory. At the closing bell the S&P/ASX 200 index closed 0.6 per cent or 38 points lower...

Read More
27Jul

Dow posts best winning streak since 1987

27 Jul 2023 - The Dow Jones Industrial Average rose Wednesday, notching its best winning streak since 1987 as traders digested a Federal Reserve rate hike and major corporate earnings.

Read More
08Apr

ASX rises above 7000 points for first time in 17 months: Aus shares tracking 0.96% higher at noon

08 Apr 2021 - The ASX exceeded 7000 points for the first time in 13 months in early trade. At noon, the S&P/ASX 200 index is 67 points up at 6,995. On the futures market, the SPI is pointing to a rise of 73 points.

Read More
12May

Tech stocks bare brunt of inflationary selling: ASX to fall

12 May 2022 - US stocks fell across the board as investors assessed persistent inflation after the consumer price Index rose by an annual rate of 8.3 per cent. Some analysts see the data as a sign that the Fed is behind the curve in curbing inflation. CBA has delivered a $2.3b March quarter profit but warns of margin pressure. NAB has expressed interest in the banking arm of Suncorp.

Read More
23Jul

Unemployment to peak to 9.25% in the December quarter: Aus shares close 0.3% higher

23 Jul 2020 - The Australian share market closed 0.3 per cent up at the end of trade. Treasurer Josh Frydenberg confirmed an $85.8 billion deficit for the last financial year, and an estimated $184 billion deficit for the next financial year. Victoria records 403 new Coronavirus cases, NSW records 19.

Read More
15Oct

Dow surpasses 43,000 amid earnings anticipation

15 Oct 2024 - The S&P 500 and Dow Jones Industrial Average reached new records on Monday as investors looked ahead to the next round of key corporate earnings.

Read More
24Jan

WHO says ‘too early’ to declare a global health emergency: ASX poised to open higher

24 Jan 2020 - Following positive leads from US markets, the ASX looks set to open higher despite more people infected by the virus in China that’s rocked the markets. The World Health Organisation says it is “a bit too early” to declare a new coronavirus a global health emergency. Nuheara (ASX:NUH) has executed an agreement for $2.5 million funding with the Lind Global Macro Fund.

Read More
30Mar

Protective gear helps Ansell (ASX:ANN) shares rise: ASX tracking 1.4% higher at noon

30 Mar 2020 - The ASX rose at the open then after a shaky start rose up to be now tracking 1.4% higher at noon. Ansell (ASX:ANN) shares performed well today after they affirmed their guidance as demand jumps for protective wear. Declines were seen in Virgin Money UK (ASX:VUK) and Abacus Property (ASX:ABP). Webjet (ASX:WEB) says work on its proposed capital raising is still ongoing.

Read More
18Dec

Afternoon update: ASX 200 drops 0.32% amid Real Estate sector losses

18 Dec 2023 - By mid-afternoon, the ASX 200 was down 0.32 per cent. This decline was primarily driven by losses in the real estate sector, particularly Charter Hall (ASX:CHC) and Dexus (ASX:DXS), which lost 1.6 per cent and 1.7 per cent, respectively.

Read More
10May

Softer jobless claims push US stocks higher

10 May 2024 - US markets rallied on Thursday following a rise in jobless claims that rekindled investor hopes that the Fed will cut rates in the second half of this year.

Read More