top 5 weekly share price gains
Profit reporting was the key driver of some of the best share price performances last week, with CYBG among the largest gainers in the S&P/ASX 200 Index, which increased 1%.
Here are the winners and losers in the ASX 200 for the week ended Friday, May 27.
60 second guide: ASX 200
What a long-term investor can learn watching short-term share prices
Top 5 share price gains
Programmed Maintenance Services
Weekly rise: 25.1% to $1.87
Share price movement past 12 months: Down 29.2%
Programmed Maintenance Services (ASX: PRG) said its full-year profit excluding one-off items grew 24% to $38.8m, on the back of a 54% increase in revenue following the acquisition of Skilled Group.
The company, which provides staffing, maintenance and facility management services, will pay shareholders a fully franked final dividend of 5 cents per share.
It has also reinstated its dividend reinvestment plan, with new shares to be issued at a 2.5% discount.
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Weekly rise: 19.3% to $6.37
Share price movement past 12 months: Down 38.9%
Almond grower Select Harvests (ASX: SHV) lifted its 2016 production forecast to 14,000 tonnes from 13,700 tonnes estimated in April, as the progress of its crop harvest is “ahead of previous years”, according to a company presentation released this morning.
The company is positive on the outlook of its orchards, saying “bud potential looks good for 2017”.
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Weekly rise: 17.1% to $5.54
Share price movement since listing in February: Up 38.5 %
Shares in CYBG (ASX: CYB) advanced to the highest close since its listing in February, after the UK lender’s underlying profit soared to £107m for the six months ended March 31, from £48m in the previous half year to September 30.
The group, a spin-off from the National Australia Bank, said the latest earnings were driven by improved operating income, lower costs and reduced charges for bad debts.
Year on year, its underlying profit was £4m lower, as higher costs incurred from being a standalone business offset higher operating income, CYBG said.
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Australian Agricultural Company
Weekly rise: 14.4% to $1.71
Share price movement past 12 months: Up 23.5%
Australian Agricultural Company (ASX: AAC), which sells beef and agricultural products, said its statutory net profit after tax skyrocketed 606% to $67.8m for the full year to March 31.
Revenue and margin expanded following its “strategic decision to own cattle right through our supply chain”, the company said in a statement last Wednesday.
While it didn’t declare a dividend, AACo said its directors will review dividend policy and are “committed” to resume paying dividends.
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Weekly rise: 14.1% to $6.49
Share price movement past 12 months: Up 152.5%
Aconex (ASX: ACX), a provider of web collaboration and project management software, didn’t make any announcement to the Australian Securities Exchange this month.
The stock, which was admitted to the ASX 200 in March, rose after two large investment houses published research notes on the company.
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Market movers this week
Australia has scheduled to release various economic data this week, which is likely to drive market movements, CommSec said.
The most important piece of data would be the nation’s gross domestic product for the three months to March, which will be out this Wednesday, June 1.
“Currently the economy is growing at a world-leading annual pace of 3%,” said CommSec.
Other key data on the radar of investors includes retail spending, international trade and tourist arrivals, all for the month of April, as well as CoreLogic RP home prices data for May.
In China, the National Bureau of Statistics will announce results of its purchasing manager survey on Wednesday, which will gauge the performance of its manufacturing and services sectors in May.
Meanwhile, markets in the US are closed on Monday for Memorial Day. A more significant economic data to be released in the US this Friday is the non-farm payrolls report.
The market has estimated an increase of 170,000 jobs in May in the world’s largest economy, CommSec stated.