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Reporting season 2022: SCA’s shoppers return, Macquarie sets record quarter

Posted: 8 February 2022 10:29 am
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Reporting season is underway with investors gaining a snapshot of how businesses are actually performing.

Reporting season continues, with the numbers showing that companies are starting to come out the other side of the COVID-19 downturn.

Today's announcements include rebounding shopping centres, a financial group and one of Australia's largest companies announcing a record quarter.

Here's what you need to know.

SCA

The Shopping Centres Australasia Property Group announcement shows the business is back to pre-pandemic levels.

Adding to its wins are strong gains in the real estate sector.

SCA informs investors of a positive outlook moving forward.

The company notes its net profit grew 320.2% to $432.4 million, while revenue also increased by 25.2% to $172.8 million.

Chief Executive Officer, Anthony Mellowes told shareholders that the company continues to grow its portfolio in a disciplined manner, highlighting how each sector of the market is currently performing.

"Over the last 6 months, our convenience-based centres have remained resilient. Specialty tenant sales grew, while supermarket sales were flat compared to the elevated levels in the prior year. Leasing spreads and cash collection rates were impacted by lockdowns in New South Wales and Victoria but improved toward the end of the half year period," he said.

Shares in SCA are up 3.93% to $2.91 at the time of writing.

Macquarie Group

Improving overall market conditions allowed for one of Australia's largest companies to announce a record third quarter.

According to Macquarie's latest statement the group now has a capital surplus of $11.5 billion.

The Group notes its Macquarie asset management (MAM) business is up 2% since September to $750.1 billion, while its banking and financial service (BFS) saw an increase of 4% in total deposits now sitting at $91.6 billion.

However, the company did not inform investors about its net profits.

Investors have responded positively with shares in the company up 2.11% to $198.11.

Suncorp Group

A combination of weather events and natural hazard claims saw insurer Suncorp have a weaker 6-month period.

The company announced net profit fell 20.8% to $388 million, with Suncorp now slashing its dividend in accordance with the new results.

It's revenue fell 1.5% to $7.23 billion.

The ASX statement shows 19 weather events and 50,000 natural hazard claims in just the first half of the year. This resulted in natural hazard claims costs of $695 million, $205 million more than expected for the first half of the financial year.

Group CEO, Steve Johnston said: "While we have been challenged by the La Niña climate pattern and the operational impacts of COVID-19, we continue to deliver against our strategic priorities and have good momentum as we move into the second half of FY22," he said.

However, in better news for investors, profits in its banking arm grew and now account for 55% of the group's cash earnings.

Suncorp announced a fully franked interim dividend of 23 cents, down from 26 a year ago.

Sentiment around the company remains strong with the share price rising by 4.33% on today's opening.

If you are keen to buy shares in SCA MQG or SUN you should consider investing through an online share trading platform.

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