Suncorp (SUN): this morning, the Queensland-based insurer and bank operator delivered a mixed first-half result for 2024—strong performance from general insurance, weak in the bank, which is no longer an issue. The HNW Portfolios have a 2.5% weight to SUN. Key [...]
This morning, Bapcor (BAP), Australia's largest vehicle parts, accessories and equipment provider, reported results that had no new surprises as they provided a trading update in late January. The HNW Equity Portfolio has a 2.5% weight to Bapcor. Key Points: Profits Down: Revenue [...]
Medibank Private (MPL): This morning, Australia's largest health insurer reported their half-year 2024 results, which were messy due to the write-back of provisions taken in 2020 relating to an expected surge in claims from the CV-19. This inflated the headline profits [...]
Mineral Resources (MIN): This morning, the diversified miner and mining services company reported their first half of 2024 results, which were far better than lithium competitors and showed the advantage of MIN's diversified strategy. The HNW Equity Portfolio holds a 2.5% [...]
The Lotteries Corp (TLC), Australia's largest lottery operator, released their half-year results for 2024 this morning, demonstrating that the house (and investors in TLC) always wins. The Atlas Growth Portfolio has a 3% weight and the Income a 3.5% weight [...]
Sonic Healthcare (SHL). This morning, global pathology company SHL reported their first half of 2024 profit results, which came in below market expectations. These were an eagerly awaited set of results and the first to show a slowing down of PCR [...]
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 [...]
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 [...]
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 [...]
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 [...]
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