Stocks of the Hour: CSR, Domino's Pizza, Suncorp

Company News

by Melissa Darmawan

Building materials company CSR (ASX:CSR) more than doubled their net profit after tax to $156.6 million in the six months to September. To be exact, profits came in 167 per cent higher from the same time a year ago. The company was the beneficiary of the construction boom as they provided materials to help homebuilders to construct homes. CSR’s results were also helped by the price of aluminum. Their aluminum division surged 195 per cent over the year to $18.3 million. The buildings material company has announced an interim dividend of 13.5 cents per share to be paid in December. Shares in CSR (ASX:CSR) are trading 4.3 per cent higher at $6.26.

If rising food costs, labour shortages, and inflation have been a concern, you’re not the only one. Domino's Pizza (ASX:DMP) have warned shareholders that looming costs are ahead. Despite sales rising 8.0 per cent for the 2021 financial year with stores reopening, investors appear to be spooked on the short-term headwinds. Shares in Domino's Pizza Enterprises (ASX:DMP) are trading 16.1 per cent lower at $119.45.

Suncorp (ASX:SUN) received around 12,000 home and motor claims from people living in South Australia, Victoria and Tasmania who experienced the recent hail and wind event last Thursday and Friday. The full extent of the damage is still unfolding, though claims are expected to rise. The insurer expects the total cost from this weather event to be in the ball-park of $225 to $250 million. Shares fell nearly 1.0 per cent on the news and it appears that investors think it’s a small dent in the overall picture. Shares in Suncorp Group (ASX:SUN) are trading 1.2 per cent higher at $11.48.

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