Stocks to watch on the Australian stock exchange on Monday, April 27:
APO – APN OUTDOOR – steady at $3.24
Billboard owner APN Outdoor has reaffirmed its prospectus forecasts of eight per cent growth in revenue and a 20 per cent rise in pro forma net profit.
MAH – MACMAHON – steady at 4.4 cents
Loss making mining services contractor Macmahon will cut another 40 staff and alter its corporate rosters to cut costs.
MEL – METGASCO – up 2.6 cents, or 46.4, to 8.2 cents
The NSW Supreme Court has found in Favour of Metgasco’s challenge to the suspension of its Rosella drilling licence.
MGX – MT GIBSON IRON – up 1.5 cents, or 7.7 per cent, at 21 cents
Mount Gibson Iron has slashed 20 per cent of its staff in the past quarter as it focuses on cutting costs and preserving cash to combat weak iron ore prices.
PDN – PALADIN – up 0.5 cents, or 1.4 per cent, at 36 cents
Production has declined at Australian uranium player Paladin’s biggest mine after a well failed, but the company is upbeat about the prospects of exports to Japan and India.
RMD – RESMED – down 91 cents, or 9.7 per cent, at $8.46
Sleep disorder specialist ResMed has achieved a small rise in quarterly profit but says selling prices and currency movements dented its margins.
XRO – XERO – down $2.33, or 10.3 per cent, at $20.32
Cloud-based accounting software business Xero has almost doubled its full year loss despite lifting revenue 77 per cent as it continued to ramp up its global expansion.
