US markets were closed overnight so no leads from there for our market today. . Our futures are pointing to a 2 points gain at the start of trade. It is expected there will be a lot of companies reporting 1HFY24 results today. Here is a list of potential candidates.
Let’s look at some results and see if we can find any really good ones.
AUB Group (ASX:AUB) 1HFY24 Results
https://www.aubgroup.com.au/
First company, AUB Group (ASX:AUB). Rising insurance premiums has seen them in a purple patch for some time now.
No percentages is interesting. Perhaps they want all the attention to be on their guidance upgrade. Nevertheless it looks like a strong result having had a quick look at the financial statements.
Mader Group (ASX:MAD) 1HFY24 Results
https://www.madergroup.com.au/
Next we have Mader Group (ASX:MAD) who updated the market in January (and fell) ahead of these results. The update looked ok but Mader Group (ASX:MAD) has had strong couple of years and perhaps the market just felt it was a bit overdone. Anyway, let’s see if anything has happened between now and January.
That as good a set of numbers as you would want to see. But will the market like it? I’ll check but I’d say they’re the same as they flagged back in January. If so, it will be all about the all important outlook.
Yes they are identical.
They have reaffirmed their guidance so it looks to me like there is absolutely nothing new here since their most recent update.
Megaport (ASX:MP1) 1HFY24 Results
https://www.megaport.com/
Next stock of interest is Megaport (ASX:MP1). This stock soared on the back of it’s quarterly report last month. You would think there wouldn’t be too much new in this report but if there is it could be another wild ride today.
I think all of the above should be known to the market already. Some of those percentages are enormous as the company has recently transitioned from loss-making to profitable.
What really matters today for this company in my view, is their outlook statement.
Guidance restated and results pretty much already known should result in a calm day for Megaport (ASX:MP1) today. But with this company you really never know! It should be noted that they have run hard into this result though. The market may have been hoping for an upgrade. It will be disappointed if that’s the case.
HUB24 (ASX:HUB) 1HFY24 Results
https://www.hub24.com.au/
Ok who should I look at next. HUB24 (ASX:HUB) has been a great performer, let’s have a look at them. I’m pretty sure they updated the market ahead of this so there shouldn’t be any real surprises.
Not the best summary but you get the gist. They’re always battling with Netwealth (ASX:NWL) for top spot in inflows and they’re winning at the moment. Outlook less important (or harder) for companies like this when they’re making money off FUM (Fund under management) and that is at the mercy of the markets.
Netwealth (ASX:NWL) 1HFY24 Results
https://www.netwealth.com.au/web
Incidentally, (ASX:NWL) are also reporting there results today, let’s have a look.
They’re the big dog but I suspect HUB24 (ASX:HUB) is catching them. Truth is though, they’re taking market share away from just about all of those bigger competitors hand over fist. The runway for both of them remains long and if the trend remains, very fruitful.
Bravura (ASX:BVS) 1HFY24 Results
https://www.bravurasolutions.com/australia/
In the pre-market, it looks like Bravura (ASX:BVS) will be the stock of the day (projected to open up 9.4%). Let’s have a look at what they have to say.
I guess that point 5 says it all. A nice big UPGRADE!
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