Stocks of the Hour: CBA, United Malt & Nufarm

Company News

by Lauren Evans

Commonwealth Bank (ASX:CBA) recorded net profit after tax of $2.2 billion for the September quarter, up 20 per cent from the prior year but weaker compared to the more recent quarters. The bank’s income was down 1 per cent, and expenses were also down 1 per cent. Shares in Commonwealth Bank (ASX:CBA) are trading 8.1 per cent lower at $98.96.

United Malt (ASX:UMG) reported a fall in earnings for FY21 due to the impact of Covid-19 restrictions, as well as a grain shortfall in North America. The company’s revenue fell 4 per cent from the prior year to $1.2 billion. Shares in United Malt (ASX:UMG) are trading 1.9 per cent lower at $4.05.

Nufarm (ASX:NUF) reported revenue of $3.2 billion in FY21, up 10 per cent from the prior year driven by growth in all regions and its seed technology business. Nufram declared a return dividend of 4 cents per share, its first dividend since 2018. Shares in Nufarm (ASX:NUF) are trading 9.6 per cent lower at $4.54.

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