Stocks of the Hour: Insurance Australia Group, Baby Bunting & Unibail-Rodamco-Westfield

Company News

by Lauren Evans

Insurance Australia Group’s (ASX:IAG) first half profit after tax returned to profit posting a gain of $173 million, after its $462 million loss a year ago.The insurer has reaffirmed its insurance margin guidance of 10 to 12 per cent and unveiled an interim dividend of 6 cents per share. Shares are trading 0.2 per cent lower at $4.54.

Baby Bunting's (ASX:BBN) after tax profit rose 12.2 per cent to $8.1 million, coming in below expectations of $11 million for the first half of financial year 2022. The company posted sales of $239.1 million, up 10 per cent from the same time the year before. They also unveiled an interim fully franked dividend of 6.6 cents. The baby goods retailer benefited from stores remaining open during the period and strong inventory. Shares are trading almost 3 per cent lower at $5.27.

Unibail-Rodamco-Westfield (ASX:URW) has agreed to sell a 45 per cent stake in Westfield Carré Sénart, plus provide asset and property management services under a joint venture with Societe Generale Assurances and BNP Paribas Cardif. Shares are trading 7.4 per cent higher at $5.65.

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