PRE-MARKET AUSTRALIAN STOCKS NEWS: Coles (COL AT) H1 (AUD) net fell 11% Y/Y to 511mln, underlying net rose 13% Y/Y to 676mln, EBIT fell 7.9% Y/Y to 996mln, rev. rose 2.5% Y/Y to 23.69bln
Bubs Australia (BUB AT) – Co. H1 (AUD) net fell 50% Y/Y to 1.8mln, rev. rose 14% Y/Y to 55.5mln, no interim dividend. (Dow Jones Newsplus)
CBA (CBA AT) - Co. probes AUD 1bln in suspected fraudulent home loans and calls in police. (AFR)
Coles (COL AT) – Co. H1 (AUD) net fell 11% Y/Y to 511mln, underlying net rose 13% Y/Y to 676mln, EBIT fell 7.9% Y/Y to 996mln, rev. rose 2.5% Y/Y to 23.69bln, interim dividend 0.41/shr. (Dow Jones Newsplus)
Harvey Norman (HVN AT) – Co. H1 (AUD) net rose 15.2% Y/Y to 321.9mln, rev. rose 6.9% Y/Y to 5.16bln. (Dow Jones Newsplus)
PEXA Group (PXA AT) – Co. H1 (AUD) NPATA rose 33% Y/Y to 40.3mln, EBITDA rose 19% Y/Y to 85.8mln, rev. rose 10% Y/Y to 215.3mln, NPAT from continuing operations swung to 15.4mln (prev. loss 29.5mln Y/Y). (Motley Fool)
TPG Telecom (TPG AT) – Co. FY (AUD) net swung to profit of 461mln (prev. loss 107mln Y/Y), rev. rose 2.8% Y/Y to 5.04bln. (Dow Jones Newsplus)
Virgin Australia (VAH AT) – Co. H1 (AUD) net fell 28% Y/Y to 341.1mln, rev. rose 9.3% Y/Y to 3.32bln, underlying EBIT rose 12% Y/Y to 490.4mln, no interim dividend. (Dow Jones Newsplus)
Property – Treasury examines potential Labor plan to slash negative gearing benefits despite warnings it may reduce rental property availability. (The Australian)
Coles' latest earnings report shows an interesting mix, with a notable decrease in net profit but a rise in underlying net profit, which may indicate efforts to improve operational efficiency amidst challenging market conditions. The slight revenue growth suggests resilience, but the decline in EBIT could raise concerns about cost management and margin pressures. Traders should monitor how these results reflect on overall sentiment in the Australian retail sector and potential implications for future policy or competitive positioning.