Stocks of the Hour: Commonwealth Bank, Insurance Australia & Centuria Capital Group

Company News

by Lauren Evans

Commonwealth Bank (ASX:CBA) recorded a net profit after tax of $8,843 million in FY21, up 19.7 per cent from the prior year. This follows the company's improved economic conditions and outlook, resulting in a lower loan impairment expense and a strong operational performance. Shares in Commonwealth Bank of Australia (ASX:CBA) are trading 1.4 per cent higher at $108.09

Insurance Australia Group (ASX:IAG) reported a net loss after tax of $427 million in FY21, reflecting the impact of unusual items. Despite this, the company will be paying a dividend payment of 13 cents per share in September. Shares in Insurance Australia Group (ASX:IAG) are trading 3.03 per cent lower at $5.12.

Centuria Capital Group (ASX:CNI) rose revenue to $212.7 million in FY21, up 40 per cent from the prior year. Profit after tax rose to $70.2 million, up 32 per cent from the prior year. Centuria more than doubled its property platform to $16.5 billion, including expansions across New Zealand and Australia. Shares in Centuria Capital Group (ASX:CNI) are trading 0.6 per cent higher at $3.14.

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