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Published on: Thursday, February 16, 2017

  • Telstra’s half-year net profit after tax (NPAT) fell 14.4% to $1.79 billion on the back of “planned restructuring costs and increased amortisation associated with shorter asset life for business software”. Net profit for the December half fell from $2.09 billion in the prior corresponding period. Revenue fell 6.4% on a year ago, to $12.8 billion. The telco announced an interim, fully-franked dividend of 15.5 cents a share. 
  • Sydney Airport’s full-year profit rose more than 13% to $320.9 million, from $283.0 million in FY15. Total revenue (and other income) for the year to December 31 came in at $1.36 billion, from $1.23 billion a year earlier. Passenger numbers rose 5.6% on the prior corresponding period, to 41.9 million. The company also declared an unfranked, final dividend of 16 cents per share (taking the full-year payout to 31 cents).  
  • BHP spin-off South32 has announced a first half profit of $US620 million compared to a $US1.75 billion loss in the prior corresponding period. Underlying earnings surged to $US479 million from just $US26 million in H1 FY16, and the company announced its first dividend since the spin off – an unfranked interim dividend of US3.6 cents per share. “The disciplined application of our strategy and stronger commodity prices underpinned a significant improvement in financial performance,” South32 CEO Graham Kerr said. 
  • Origin Energy posted a statutory loss of $1.68 billion for the first half on the back of a $1.9 billion impairment charge, including Origin’s 37.5% share of the Australia Pacific LNG’s impairment of its assets ($1.03 billion). Underlying profit fell 27.6% on the period, to $184 million, while underlying EBITDA increased 32% to $1.15 billion from $868 million in the prior corresponding period. Origin will not pay an interim dividend. 

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