ASX 200 reporting season: Nick Scali
Explore the latest financial maneuvers as Nick Scali cuts dividends, REITs see profit surges, and Domino’s announces significant store closures in strategic markets like Japan.
(AI video summary)
This video was created on 7 February for IG audiences by ausbiz.
Key financial results
Nick Scali (ASX:NCK)
- Revnue: $251 million
- Revenue growth: 10% year-over-year (YoY)
- Dividend: $0.30 per share
- Profit: $30 million, a 30% decrease from last year
Charter Hall Retail REIT (ASX:CQR)
- Revnue: $51 million
- Revenue growth: 119% YoY
The real estate investment trust (REIT) also announced a distribution of 12.5 cents per security and completed a $50 million on-market share buyback program, showcasing its strong financial performance and commitment to returning value to shareholders.
Domino's Pizza (ASX:DPZ)
Half year projections:
- Net profit before tax: $24 million to $86 million
- Net rising debt: $58 million to $705 million
- Interim dividend: 2 cents to 3.5 cents per share
Domino's Pizza Enterprises plans to close 205 loss-making stores, including 172 in Japan, to improve profitability. Chief executive officer (CEO) Mark Van Dyck is leading a review to enhance cost efficiencies, focusing on Japan and France.
Broker recommendations and market expectations
Bell Potter and Citi have rated the A2 Milk Company as a buy, reiterating its guidance despite high costs, which Citi attributes to revenue-related factors. Bell Potter has increased its price target for A2 Milk to $2.81 per share.
Meanwhile, Bell Potter has downgraded McMillan Shakespeare from buy to hold, despite solid first-half sales growth. The broker's focus is on the audiobook and cosmetic sectors, which may be nearing an inflection point, with a price target of $15.80 on the stock.
Looking ahead, next week will feature updates from companies like JB Hi-Fi, Carsales.com, Dexus Convenience Retail REIT, and Fiducian Group, providing further insights into market trends and investment opportunities.
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