Portfolio Update – ANZ-Suncorp Merger Approved by ACCC

ANZ/SUN Marital Background: In July 2022, Suncorp announced that they had come to an agreement to sell the Suncorp Bank to ANZ, conduct a $3-3.50 capital return to shareholders and become a pureplay insurer. Atlas saw this as a win-win [...]

2024-02-23T13:01:41+11:00February 20, 2024|

Reporting Season – Lendlease

 Lendlease (LLC), the multinational construction and asset management company, reported this morning with mixed results today, with this being their second year of changing the business to an investment-led company from a construction-led company. The HNW Equity Portfolio only has a [...]

2024-02-23T12:59:01+11:00February 19, 2024|

Quarter Update – Westpac Banking Corporation

This morning, Westpac Banking Corporation (WBC) provided a first-quarter update. We usually don't comment on trading updates as they are too volatile and can give a misleading picture, both positive and negative, but today's share price move warrants a brief note. The HNW Equity [...]

2024-02-23T12:57:29+11:00February 19, 2024|

Reporting Season – Ampol

Ampol (ALD), Australia's largest energy distributor and retailer and the Portfolio's largest overweight position, released a record full-year profit for 2023 this morning. This saw shareholders rewarded with franked distributions, with all divisions ahead of where they were pre-pandemic. The HNW [...]

2024-02-23T12:55:16+11:00February 19, 2024|

Reporting Season – QBE Insurance Group Ltd

QBE Insurance (QBE) The global insurer released its full-year 2023 profit results, which showed that the company is managing its business well with few negative surprises, benefiting from positive trends in insurance management discussed throughout the year. The HNW Portfolios have [...]

2024-02-23T12:45:47+11:00February 16, 2024|

Reporting Season – Charter Hall Retail REIT

Charter Hall Retail REIT (CQR), the convenience retail real estate manager, posted strong earnings this morning, demonstrating the resilience of non-discretionary retail sales. The HNW Income Portfolio holds a 4.3% weight to CQR. Operating Earnings Up: Same property income increased by [...]

2024-02-23T12:49:03+11:00February 16, 2024|

Reporting Season – Wesfarmers Ltd

Wesfarmers (WES): They presented their half-year 2024 profit results, which were better than Atlas' optimistic expectations. What was evident was that WES's businesses are performing well in a consumer slowdown and taking market share from value-conscious consumers. The HNW Equity Portfolio [...]

2024-02-23T12:38:51+11:00February 15, 2024|
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