James Hardie Industries (ASX: JHX) – Q1FY21 Results Announcement
James Hardie today announced their Q1 FY21 results. Net operating profit (NOPAT) ran at around $US89.3 million for the quarter, which was in-line with the prior corresponding period. The company has announced full-year FY21 guidance for NOPAT of between $US330 million and $US390 million (FY20: $US352.8 million).
Shopping Centres Australasia Property Group (ASX: SCA) – FY20 Results Announcement
SCA today announced their FY20 earnings results which showed a 22% drop in NPAT to $85.5 million, due largely to a $20.5 million COVID-19 earnings impact and a like-for-like property devaluation of $87.9 million. Funds from operations were down 0.7% to $140.8 million, and the total investment property portfolio dropped in value by $8.8 million to $3,138.2 million. SCP did pay a final dividend in June, but it was 32 percent lower than the final dividend of FY19. The company did not provide guidance for FY21. Revenues were slightly higher than expected by the average analyst, but the results are otherwise largely a miss on what was expected.
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Tim Michaelides is the Head Trader at Emerald Financial Group.
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