At lunch on Thursday, the S&P/ASX 200 Index (ASX: XJO) has bounced back from a poor start and is edging higher. The benchmark index is currently up 0.1% to 7,385.7 points.
Here’s what is happening on the ASX 200 today:
Brickworks half year results impress
The Brickworks Limited (ASX: BKW) share price is charging higher today. This follows the release of a half year result which appears to have smashed the market’s expectations. Brickworks reported a 24% increase in revenue to $535 million and a 254% jump in underlying earnings before interest and tax (EBIT) to $450 million. The latter compares very favourably to Citi’s EBIT estimate of $321 million. This was driven by investment earnings of $73 million and a $349 million increase in the value of its share of its joint venture property trust with Goodman Group (ASX: GMG).
Soul Pattinson delivers strong half year profit growth
The Washington H. Soul Pattinson and Co. Ltd (ASX: SOL) share price is rising today. Investors have been buying the investment company’s shares following its half year results release. Soul Patts reported a 281% jump in adjusted profit after tax to $343.7 million thanks to strong performances by its major investments. This allowed the company to lift its interim dividend by 11% to 29 cents a share.
Uniti confirms takeover offer
The Uniti Group Ltd (ASX: UWL) share price has returned from its trading halt and is pushing higher. This morning the telco confirmed speculation that it has received a second takeover approach. The release notes that it has received a non-binding, incomplete, and indicative $5.00 per share proposal from Macquarie Infrastructure and Real Assets. This compares favourably to a $4.50 cash per share from Morrison & Co last week.
Best and worst ASX 200 performers
The best performer on the ASX 200 on Thursday has been the Brickworks share price with a 4.5% gain. This follows a positive response to its half year results. The worst performer has been the Zip Co Ltd (ASX: Z1P) share price with a 6% decline amid weakness in the tech sector.
The post ASX 200 (ASX:XJO) midday update: Brickworks impresses, Uniti confirms takeover approach appeared first on The Motley Fool Australia.
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More reading
- Why is the Zip share price getting smashed so much more than other BNPL stocks in 2022?
- Soul Pattinson (ASX:SOL) share price on watch after 281% surge in net profit
- Brickworks (ASX:BKW) share price on watch amid 269% first half profit jump
- 2 ravaged ASX shares that will rise again: expert
- 5 things to watch on the ASX 200 on Thursday
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Brickworks, Washington H. Soul Pattinson and Company Limited, and ZIPCOLTD FPO. The Motley Fool Australia owns and has recommended Brickworks and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has recommended Uniti Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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