Stocks of the Hour: KMD Brands, BNK Banking, Qantas, Regional Express

Company News

by Melissa Darmawan

The Kathmandu business of KMD Brands (ASX:KMD) has achieved a record performance over its winter promotional period and saw a 7.3 per cent jump in year-to-date same-store sales. The owner of three brands, including Kathmandu, Rip Curl and Oboz, says that trading conditions have improved despite the Covid-19 challenges. Shares are trading 1.5 per cent higher at $1.02.

BNK Banking Corp (ASX:BBC) is set to reward investors with a 34 cents special dividend payout. The distribution is linked to the sale of its Finsure business to MA Financial late last year. BNK is also reporting record volumes in total lending settlements of $121 million for June, which is a 52 per cent jump year-on-year while total deposits grew by 11.5 per cent at $98.8 million. Shares are trading 12.1 per cent higher at $1.06.

Airline stocks have taken-off on the ASX amid US-based American Airlines expecting total revenue in the second quarter to peak at 2019 levels. Shares in Qantas Airways (ASX:QAN) are trading 4.3 per cent higher at $4.42.

Meanwhile, Regional Express (ASX:REX) has entered into a trading halt. The news comes on rumours that the airline is looking to buy Cobham Aviation’s Fly-in-Fly-out operations. Shares last traded at $1.22.

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