The S&P/ASX 200 Index (ASX: XJO) dropped over 1% today by market close. The ASX 200 fell to 5,403 points.
The coronavirus continues to dominate news headlines, but there’s growing concern about China hurting Australia’s exports of barley and beef.
Here’s what happened in the ASX 200 today
There was a full year result and a few interesting updates.
CSR Limited (ASX: CSR) reports
The ASX 200 construction business announced its FY20 report today. The CSR share price went up by over 10%.
CSR reported that net profit after tax (NPAT) of $125.3 million rose from $78 million in the prior year which included an impairment last year.
NPAT from continuing operations (before significant items) of $134.8 million was down from $181.7 million in FY19.
CSR decided not to pay a final dividend.
Altium Limited (ASX: ALU) update
The ASX 200 electronic PCB software business announced another coronavirus update earlier today.
It’s starting to feel some of the effects of the coronavirus, causing it to lower prices and extend payment terms. It doesn’t think it can reach its US$200 million revenue target this year. May and June are typically important months for sales for the company and things are only getting tougher rather than easier.
However, it said that it has a cash balance of US$77 million and it’s working hard to invest in cloud offering Altium 365.
The ASX 200 software business fell by around 4% today.
Premier Investments Ltd (ASX: PMV) says stores to re-open
The major retailer said that store closures had significantly impacted global sales with total sales down 74% for the six weeks to 6 May 2020 compared to the prior period. The global retail store network sales were down 99%, but online sales have risen 99%.
Premier Investments has announced that the balance of its stores in Australia will reopen from 15 May 2020, although airports and some CBD stores will remain closed. All New Zealand stores will reopen from 14 May 2020.
The company said it will pay rent in arrears for all stores at a gross percentage of sales.
The Premier Investments share price was essentially flat today for the ASX 200 retailer.
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More reading
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- 3 top-notch ASX shares on my May watchlist
- ASX stock of the day: This ASX construction share jumped 10% today on a 61% surge in profits
- Is the Altium share price a buy after today’s update?
- Is this ASX healthcare share about to soar?
Motley Fool contributor Tristan Harrison owns shares of Altium. The Motley Fool Australia owns shares of and has recommended Premier Investments Limited. The Motley Fool Australia owns shares of Altium. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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