ASX 200 reporting season: QBE Insurance
QBE Insurance reports a 27% profit growth, Guzman y Gomez plans strategic expansion despite market challenges, and Inghams' earnings are impacted by shifting poultry demands.
(AI video summary)
This video was created on 21 February for IG audiences by ausbiz.
Key financial results
QBE Insurance (ASX:QBE)
QBE Insurance (QBE) reported a 27% rise in full-year profit to $1.8 billion, driven by higher premiums and fewer catastrophe claims. This allowed the company to increase its full-year dividend from $0.62 to $0.87 per share.
Catastrophe claims were reduced to $232 million, well below the 2024 allowance of $1.28 billion. Chief Executive Officer (CEO) Andrew Horton noted that the results exceeded guidance, with QBE operating in 27 countries and expecting a net exposure of around $200 million from the California wildfires in January. QBE anticipates mid-single-digit growth in gross written premiums for fiscal year (FY) 2025.
Guzman y Gomez (ASX:GYG)
Food retailer Guzman y Gomez expects to surpass its 2025 profit forecast, citing progress in the first half (H1) of the financial year. The company reported a 23% increase in global network sales, reaching A$578 million across 239 restaurants in Australia, Asia, and the United States (US).
Despite a 60% decline in US earnings, Guzman y Gomez saw a 12% rise in Australian comparable sales in the first seven weeks of the second half (H2) 2025. The company plans 31 new store openings, focusing on brand building and customer experience.
Inghams (ASX:ING)
Poultry producer Inghams reported a 19% decrease in H1 profit to A$51.5 million, falling short of market expectations. This was due to lower core poultry volumes during its transition to a supply arrangement with Woolworths. Revenue fell nearly 2% to $1.61 billion.
Despite these challenges, CEO Andrew Reeves is optimistic, noting that 75% of Australian households eat chicken three times a week, indicating strong retail sales. Shareholders will receive a fully franked interim dividend of A$0.11 per share.
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