Half-year results from Bendigo and Adelaide Bank (ASX:BEN)
showed its net profit rose while its net interest margin fell for the 6 months ending December last year. Despite this, the nation’s fifth largest bank is set to reward shareholders with a dividend. The bank’s net profit jumped 31.7 per cent to $321.1 million while its net interest margin declined 14 basis points to 2.09 per cent. The group has flagged lower revenue for the second half. Shares are trading 2.5 per cent higher at $9.50.
JB Hi-Fi (ASX:JBH)
has unveiled a $250 million off market buyback after posting weaker overall sales for the half year ending December last year. The electronics retail giant posted a 1.6 per cent fall in sales to $4.9 billion despite soaring online sales, while net profit fell 9.4 per cent to $287.9 million. The company declared a reduced interim dividend of $1.63 a share compared to $1.80 last year. On a brighter note, the company is off to a strong second half with elevated demand across all sales channels. Shares are trading 6 per cent higher at $52.01.
posted revenue growth despite construction shutdowns and wet weather over the period. For the first half of this financial year, sales revenue rose 1 per cent from continuing operations of $1.5 billion, while earnings before interest and tax, excluding property fell 23 per cent to $78 million. Boral expects revenue in the second half to be higher than the first half, reflecting a national price increase to offset energy costs, while supply chain constraints and labour shortages are expected to continue. Shares are trading 1.6 per cent lower at $3.73.