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ASX Live Coverage: Monday, August 11
Welcome to our live coverage of the Australian Securities Exchange (ASX) for Monday, August 11. Today, we’re introducing an interactive format, with a wealth of updates pre-market and throughout the trading day. The blog will conclude around 2:00 PM AEST, so be sure to refresh for the latest insights. We appreciate your feedback on how to improve your experience here.
JB Hi-Fi Sees Early Gains Fade
[11:10 AM] JB Hi-Fi commenced the trading day with a 2% increase, briefly reaching a record high of $120.86 after announcing its financial results for FY25, which exceeded market expectations across several key metrics:
- Sales: $10.55 billion, surpassing the anticipated $10.50 billion (a 0.4% increase).
- Underlying Net Profit After Tax (NPAT): $476.1 million, exceeding the expected $472.3 million (a 0.8% increase).
- Dividends: A final dividend of 105 cents per share, along with an additional special dividend of 100 cents per share.
- Future Dividend Policy: Starting FY26, the company plans to elevate its dividend payout ratio to 70-80% of NPAT, up from the current 65%.
- Leadership Change: CEO Terry Smart will retire on October 3 and will be succeeded by current COO Nick Wells.
Despite these positive announcements and a special dividend that was anticipated by investors, the stock was trading at a Price-to-Earnings (PE) ratio of 28x, which may be concerning for some analysts.
Morning Market Overview
[11:00 AM] It seems today wasn’t the best choice for a late start, as various significant events and updates are influencing the market. Catalysts such as the closure of the CATL mine, notable reports from several high-profile journalists, and major announcements from firms like Tuas and DigiCo are taking centre stage.
This concise summary captures the essential updates from today’s ASX live blog while ensuring the dynamic content remains relevant and engaging for readers.
