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ASX 200 reporting season
Harvey Norman leads ASX gains with strong profit report
The ASX sees significant growth as Harvey Norman, Virgin Australia, and Austal report impressive performances.
(AI video summary)
This video was created on August for IG audiences by ausbiz.
Key financial results
Harvey Norman (ASX:HVN)
Harvey Norman shares jumped 12.5% in late trading. The company reported a 47% increase in full-year profit to $518 million, driven by property revaluation and strong franchisee sales. Earnings rose 25% to $1.13 billion, with July sales up nearly 10% from last year. A fully franked dividend of $0.145 per share was declared, totaling $0.265 for the year.
Virgin Australia (ASX:VGN)
Virgin Australia shares rose 0.4% following its first market results since relisting, with a 28% increase in underlying profit to $331 million. Despite a 12% decline in statutory profit to $479 million, revenue increased by 8.5% to $5.8 billion. Impacted by United States (US) tariffs, the airline expects travel demand to grow with gross domestic product (GDP), projecting a 5% capacity increase in the first quarter (Q1) and 4% over six months.
Austal (ASX:ASB)
Austal reported a 500% surge in net profit after tax to $90 million, with revenue up 24% due to new defense programs in the US and Australia. Earnings before interest and tax (EBIT) doubled, and operating cash flow reached $406 million. With a $453 million net cash position and a $13.1 billion order book, Austal prioritizes balance sheet strength and capital expenditures rather than dividends.
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