Stocks of the Hour: Woolworths, Nearmap & Growthpoint Properties

Company News

by Lauren Evans

Woolworths (ASX:WOW) reported on its first half of FY22, saying Australian Food earnings are expected to be weaker than a year ago with Covid-19 costs still weighing. The supermarket giant said while its sales and customers remained strong relative to the overall market, both indirect and direct costs associated with Covid-19 have still impacted the company. Shares in Woolworths (ASX:WOW) are trading 8.7 per cent lower at $37.03.

For the first time ever, Nearmap (ASX:NEA) expects the annualised contract value (ACV) of its North American portfolio to surpass the ACV of its Australian and New Zealand portfolio by the end of the month. The aerial imagery company said the North American business is expected to represent majority of the group's ACV portfolio. Shares in Nearmap (ASX:NEA) are trading 10.9 per cent higher at $1.63.

Growthpoint Properties (ASX:GOZ) have upgraded their FY22 guidance, with funds from operations to be at least 27 cents per security from 26.3 cents, following an active business period. FY22 distribution guidance also upgraded to 20.8 cents per share from 20.6 cents. Shares in Growthpoint Properties (ASX:GOZ) are trading 0.5 per cent higher at $4.20.

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