Yesterday we saw Bradken (BKN) and Transurban (TCL) report their interim results to the market, alongside Cochlear (COH) covered earlier here. Here’s a round up of their results:
Bradken
Bradken (BKN) is a manufacturing and distribution company providing consumable products for the mining, rail and energy sectors
A big increase in revenue, up almost 30%, with net profit up a stonking 65% to $43 million, but below consensus expectations. This means earnings per share (EPS) rose to 26.2 cents from 18.7 cents over the same period last year.
The company also announced a nice increase to their dividend, rising some 5% to 19.5 cents per share (fully franked and going ex-dividend on the 14th of February). This equates to a 5% dividend yield, or 7.2% grossed up with franking credits for the yield chasers.
Here is Bradken’s (BKN) share price performance over the last 12 months:
BKN – 1 year daily price chart with 200 day moving average
Bradken reaffirmed full year guidance for earnings growth in the 25-30% range, meaning net profit growth of 35-40%, dependent upon maintaining their high order book and high margins. The market weren’t happy with the result, pushing the stock down some 2.7% in trading yesterday.
Transurban
The leading toll road operator announced a strong increase in revenue for the half year yesterday, with earnings before interest/tax increasing by 7.5%, mainly due to strong revenue growth at its Citylink asset. This equated to a 27 per cent increase in profit for the second half of last year.
Toll revenue on all Transurban roads increased by 6 per cent to $473.8 million.
A 14.5c distribution to shareholders was declared which included a fully franked component for the first time of 3.5 cents, the stapled security going ex-dividend this Friday.
Here is Transurban’s (TCL) share price performance over the last 12 months:
TCL – 1 year daily chart with 200 day moving average
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Today its all eyes on BHP–Billiton (BHP), whilst Australand Property Group (ALZ) provides full year results and Ansell (ALL) interim results amongst the major reporters.