Stocks to watch on the Australian stock exchange early on Friday:
AAD – ARDENT LEISURE GROUP – up two cents at $1.075
Theme park operator Ardent Leisure has reported a statutory profit of $19.2 million for the six months to December 2011, down from $22.3 million for the previous corresponding period.
AMP – AMP LTD – down 10 cents at $4.29
Wealth manager and life insurer AMP has reported an 11 per cent fall in its full-year net profit to $688 million.
ASX – ASX LTD – up seven cents at $30.40
Sharemarket operator ASX Ltd says it believes an improvement in investor sentiment could be on the cards in 2012, after posting a small rise in first-half profit.
AWC – ALUMINA LTD – up 1.5 cents at $1.17
Alumina Ltd has delivered a near fourfold surge in full year net profit on the back of higher alumina and aluminium prices and production, but says it has a cautious outlook for 2012.
BXB – BRAMBLES LTD – down 27 cents at $7.00
Pallet supplier Brambles says its first-half profit rose nine per cent but it has downgraded expectations for earnings growth in the year.
CTX – CALTEX AUSTRALIA LTD – down 19 cents at $12.35
Caltex has written down the value of its refinery assets by $1.5 billion, partly because of the impact the stronger Australian dollar is having on its business.
EGP – ECHO ENTERTAINMENT GROUP LTD – down 11 cents at $3.48
An inquiry has been launched into the circumstances surrounding the sacking of The Star casino’s CEO, Sid Vaikunta.
GFF – GOODMAN FIELDER LTD – down three cents at 48 cents
Breads and spreads maker Goodman Fielder says it has delivered a weak performance in the first half of the 2011/12 financial year.
GMG – GOODMAN GROUP – up 1.5 cents at 66.5 cents
Goodman Group has reported an 11.5 per cent fall in first-half profits, but says it is pleased with its performance so far in the year.
GNC – GRAINCORP LTD – up 33 cents at $8.20
GrainCorp expects to report a full-year net profit of up to $185 million for 2011/12, aided by record crops.
PMP – PMP LTD – down one cent at 41.5 cents
Publisher and direct marketer PMP says it plans to cut costs and offer redundancies during what it expects to be a challenging second half of 2011/12.
QAN – QANTAS AIRWAYS LTD – up 9.5 cents at $1.655
Qantas will slash 500 jobs as part of a major revamp of the struggling airline after a massive fall in first-half profit.
QRN – QR NATIONAL LTD – down five cents at $3.71
Rail operator QR National’s first-half net profit has fallen by 32 per cent but the company expects improved coal haulage volumes in the second half of the year after the impact of floods.
WBC – WESTPAC BANKING CORPORATION – down 74 cents at $20.22
Westpac Banking Corporation’s first-quarter cash profit has fallen slightly due to a fall in income from its markets-related business.
WES – WESFARMERS LTD – down 76 cents at $29.09
Wesfarmers profit rose 0.3 per cent in the first half as the retail giant navigates challenging trading conditions in the short-term and heavy discounting at its Coles supermarkets.
