Stocks of the Hour: Domain, Dexus & Magellan Financial

Company News

by Lauren Evans

Domain (ASX:DHG) recorded revenue of $289.6 million in FY21, up 9.7 per cent from the prior year. The real estate business also recorded net profit of $37.9 million, up 66 per cent from the prior year, driven by equity accounted investments.  Shares in Domain Holdings Australia (ASX:DHG) are trading 4.8 per cent higher at $4.90.

Dexus' (ASX:DXS) net profit after tax increased 17 per cent in FY21 from the prior year. A distribution of 51.8 cents per security for the year was 3 per cent higher than the prior year, despite ongoing challenges from the Covid-19 pandemic. Shares in Dexus (ASX:DXS) are trading 1.6 per cent lower at $10.53.

Magellan Financial Group (ASX:MFG) records adjusted net profit after tax up 4 per cent from the prior year to $454.4 million in FY21. Revenue for the year decreased by 2 per cent due to the increase in the average of Australian dollar exchange rates over the year. Shares in Magellan Financial Group (ASX:MFG) are trading 8.9 per cent lower at $47.01.

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