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On Thursday, the S&P/ASX 200 Index (ASX: XJO) carved out the smallest of gains. The benchmark index rose slightly to 7,611.2 points.

Will the market be able to build on this on Friday and end the week on a high note? Here are five things to watch:

ASX 200 expected to rise again

The Australian share market looks set to end the week in a positive fashion following a stunning night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open 30 points or 0.4% higher this morning. In late trade on Wall Street, the Dow Jones is up 1.4%, the S&P 500 is up 2.2%, and the NASDAQ is up 3.1%.

Oil prices push higher

ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Karoon Energy Ltd (ASX: KAR) could have a good finish to the week after oil prices pushed higher overnight. According to Bloomberg, the WTI crude oil price is up 1% to US$78.65 a barrel and the Brent crude oil price is up 0.8% to US$83.73 a barrel. Signs of a tightening global crude market boosted prices.

Bapcor results

The Bapcor Ltd (ASX: BAP) share price will be on watch on Friday when the autoparts retailer releases its half-year results. Morgans said: “Market expecting a relatively weak result. Consensus expectations were set lower post BAP’s 1Q24 downgrade and the recent CFO departure points to ‘BTB’ targets being at risk. Despite the market already expecting a relatively weak result, we think the core business outlook remains subdued and we would prefer to see the result to ‘de-risk’ any entry into the stock.”

Gold price edges lower

ASX 200 gold shares Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) could have a subdued session after the gold price edged lower overnight. According to CNBC, the spot gold price is down 0.1% to US$2,032.5 an ounce. Strong US economic data put pressure on the precious metal.

Qantas remains a buy

Qantas Airways Limited (ASX: QAN) shares are still a buy according to analysts at Goldman Sachs. In response to the release of the airline operator’s half year results, the broker has retained its buy rating with an $8.05 price target. This implies over 50% upside from current levels. It said: “Earnings cuts, but another proof point on reset earnings capacity.”

The post 5 things to watch on the ASX 200 on Friday appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• Northern Star share price dulls despite record $702 million cash earnings
• Qantas share price takes off following $1.2b half-year profit
• 5 things to watch on the ASX 200 on Thursday
• Here are the top 10 ASX 200 shares today

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. has positions in and has recommended Goldman Sachs Group. The Motley Fool Australia has recommended Bapcor. 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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It’s a tricky question that couples might find themselves asking each other after years of living together and working alongside one another: should we combine our superannuation accounts?

By law, almost everyone who holds a job in Australia – certainly almost every Australian citizen – is required to receive superannuation. And if they are to do so, they’ll need a superannuation account.

So when we shack up with our life partners, chances are that both parties will already have a super fund each.

Combining super funds may seem like a logical step for any couple approaching retirement age. But today, let’s discuss some pros and cons of joining super forces.

Should you combine your superannuation fund with your partner?

Well, the single largest pro of combining your superannuation with your partner would be the reduction in fees and costs one of you will pay. Instead of two sets of fees and costs coming out of your super fund every year, you’ll only have to pay one set.

Some components of the fees you’ll pay for super are proportional (that is, you’ll pay a percentage of whatever funds you have invested). But others are fixed fees. So in most cases, combining super will reduce the overall costs both partners will pay.

This is obviously an advantage, particularly if you are combining into a single self-managed super fund (SMSF).

Speaking of SMSFs, pooling your funds together in a self-managed fund could open up the potential to invest in assets that neither partner could afford on their own. This could be investment properties or other large investments.

Another benefit might come from unifying your investment strategy. If one partner has their super invested in a growth option, but the other instead has opted for a conservative approach, this could lead to divergent financial outcomes.

Having both partners’ funds invested in the same products could well lead to a better outcome for all.

What about the drawbacks?

But of course, combining super funds might not be the best idea for all couples. There are a few reasons why.

Firstly, combining super is probably going to work better if both partners are of a similar age. but if there is a large disparity between the two parties, it could lead to some complications.

Let’s say a couple has 12 years between them. If one was approaching the age of 65 and wished to move into more conservative assets, it might cripple the investment potential of the other partner, who still might be more than a decade away from retirement.

Spending the last ten years of your career investing your super into ultra-conservative assets could have a big impact on the quality of life you’ll enjoy when you’re both finally ready to hang up the work boots.

Then there’s the uncomfortable topic of separation or divorce.

Hopefully, both parties that decide to combine their super funds have committed to a life together.  But if things go pear-shaped (which is always a possibility), then unwinding a merged super fun that you have with your partner could be a nightmare.

It could even result in court dates and lots of legal fees if things get really nasty. So anyone considering this path would do well to keep in mind the devilish hassle of unscrambling your nest eggs if things between you and your partner go south.

Foolish takeaway

Like many things in investing — and, indeed, life — merging your super funds with that of your partner has both upsides and potential downsides. At the end of the day, the right choice will depend on your own personal circumstances, as well as the advice of your tax professional or financial adviser.

The post Should you combine your superannuation with your partner? appeared first on The Motley Fool Australia.

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More reading

• 2 cheap ASX stocks that offer more than 8% dividend yields
• Here are the top 10 ASX 200 shares today
• Goldman Sachs says these ASX growth shares are destined for big things
• Northern Star share price dulls despite record $702 million cash earnings
• Morgans names 3 ASX stocks to buy following results

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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The ASX is fortunate enough to host many quality stocks that offer high dividend yields by international standards.

That’s no accident. 

Australia’s rules that allow investors to reduce their income tax liability if the company has already paid corporate tax on dividends encourages this situation.

So which are some of the bargains offering more than 8% yield at the moment?

Here are two that have caught my eye:

40% discount to what the assets are worth

Growthpoint Properties Australia Ltd (ASX: GOZ), which is a real estate investment trust (REIT) that owns industrial and office properties, reported its latest results on Thursday.

High interest rates and the uncertainty in workers returning to the office are admittedly keeping the stock down, having lost 28.4% over the past year.

But that gives it plenty of cyclical upside. The stock is now trading at an almost 40% discount to its net tangible assets.

So buying Growthpoint shares now means you’re effectively becoming a landlord for far cheaper than if you bought those properties directly.

The depressed valuation also provides those willing to dive in now with a sensational dividend yield.

After Thursday’s announcement of a 9.65 cent distribution per share, the total payout for the last 12 months becomes 20.35 cents.

That equates to a yield of 8.85%.

A cheap stock paying 11% yield

A riskier proposition, but potentially more rewarding, is Woodside Energy Group Ltd (ASX: WDS).

After a 12.2% drop in the share price over the past year, Woodside’s dividend yield now stands at a monstrous 11.1%.

Of course, the caveat here is that the fortunes for an ASX energy stock like Woodside is highly dependent on global oil prices.

If that plunges over the next year then the company may reduce the dividend.

Conversely, if the global crude prices rise then both the Woodside stock price and distribution payments could rocket.

A survey of professional investors on CMC Invest suggests many are comfortable with buying Woodside shares right now.

Eight out of 15 analysts rate the energy stock as a buy, while only three recommend selling.

The post 2 cheap ASX stocks that offer more than 8% dividend yields appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Thursday
• 3 ASX 100 and ASX 200 shares I’d buy now for a $1,820 passive income in 2024!
• 5 things to watch on the ASX 200 on Wednesday
• Is the 11.3% dividend yield on Woodside shares for real?
• 5 things to watch on the ASX 200 on Tuesday

Motley Fool contributor Tony Yoo has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

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More reading

• CSR share price jumps again as blockbuster bid confirmed
• Why Bega Cheese, Domino’s, Lovisa, and Universal Store shares are rocketing today
• Which ASX All Ords stock is diving 18% on FY23 results?
• Bega Cheese shares soar 11% on profit jump
• Lovisa share price soars after opening 74 new stores in first half

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Domino’s Pizza Enterprises, Lovisa, and Megaport. The Motley Fool Australia has recommended Domino’s Pizza Enterprises, Lovisa, and Megaport. 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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If you want some ASX growth shares to supercharge your portfolio, then it could be worth checking out the two named below.

Here’s why analysts at Goldman Sachs are tipping them as buys this month:

IDP Education Ltd (ASX: IEL)

This language testing and student placement company’s shares could be in the buy zone according to analysts at Goldman Sachs. The broker responded to its half-year results by retaining its buy rating with a $26.60 price target.

It believes the company is well-positioned for long-term growth thanks to structural tailwinds and its dominant market position. It said:

We believe IEL’s premium valuation is justified given the medium-term earnings potential driven by: (1) Structural growth in multi-destination placements, supplemented by an ongoing Australian recovery; (2) Ability to grow market share in the highly fragmented Canadian and UK SP markets; (3) Reinvestment in digital capabilities to increase competitive moat and generate new earnings streams.

NextDC Ltd (ASX: NXT)

Another ASX growth share that Goldman Sachs is feeling positive on is data centre operator NextDC. It currently has buy rating and $16.60 price target on its shares.

The broker believes NextDC is positioned to deliver rapid growth in the coming years thanks to cloud adoption. And with its shares trading at a discount to peers, Goldman believes now is a great time to pounce on them. It said:

We are particularly positive on NXT and are Buy rated given the rapid growth in cloud adoption, which has been supported by the continued evolution of the enterprise telecommunications market, and the significant demand by both public and private investors for digital infrastructure assets. We believe the company has a compelling growth profile and a proven and profitable business model, noting it trades on a growth-adjusted discount vs. peers, which we view as unjustified.

The post Goldman Sachs says these ASX growth shares are destined for big things appeared first on The Motley Fool Australia.

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More reading

• These are the 10 most shorted ASX shares
• Want to outperform? This ASX 200 stock could generate a 35% return in 12 months
• Why BHP, IDP Education, Pro Medicus, and Whitehaven Coal shares are dropping
• Here are the top 10 ASX 200 shares today
• Why AMP, Core Lithium, Downer EDI, and IDP Education shares are racing higher

Motley Fool contributor James Mickleboro has positions in Nextdc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group and Idp Education. The Motley Fool Australia has recommended Idp Education. 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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The Northern Star Resources Ltd (ASX: NST) share price is ending the day slightly lower after polishing up its latest half-year result.

Shares in the gold miner finished Thursday 0.8% lower at $13.06. Still, it could have been worse, given the share price reached a 3.6% intraday low of $12.70 before retracing.

Golden result fails to excite the Northern Star share price

• Revenue up 15% to A$2,248 million
• Gold sales relatively flat at 780,785 ounces versus 773,243 in the prior first half
• Underlying EBITDA up 41% to A$889 million
• Cash earnings up 50% to a record A$702 million
• Record interim unfranked dividend of 15 cents per share, up 36%

What happened in the first half?

Australia’s biggest gold miner by market capitalisation generated a 50% increase in cash earnings in the half year ended 31 December 2023. The sizeable strengthening of profits is attributable to a 14% jump in the average realised gold price between reporting periods — rising from $2,513 per ounce to $2,873 per ounce.

The price of gold has held steady around record levels for months now. Currently hovering around A$3,100 an ounce, people are still flocking to the precious metal amid uncertain monetary policy and geopolitical tensions.

On 21 November last year, Northern Star provided an exploration update. As per the update, drilling more than 130,000 metres yielded discoveries across the company’s various projects, extending “organic growth optionality across all three production centres”.

The Northern Star share price has trended higher since this update, lifting 9%, as shown below.

What did management say?

Commenting on the result, Northern Star managing director Stuart Tonkin said:

This interim result is a glimpse of the cash-generating potential that our business is positioned for on a sustainable basis as we reach the halfway mark of our low-risk, five-year profitable growth strategy.

The highlight of our strong half was the performance of the Kalgoorlie Production Centre, which contributed more than half of the Group’s EBITDA and record EBITDA margins of 44% as our largest asset – KCGM – began a new era of mining high-grade Golden Pike North material.

What about FY24 guidance?

The company reiterated its previously set guidance for FY2024. Notably, this includes an expected skew towards the second half being stronger. Gold sales are slated to total somewhere between 1.6 million to 1.7 million ounces.

Elsewhere, Northern Star pencilled its expectations on the cost and investments side for FY24 — a ‘key focus’ for the company as cost pressures persist. The following guidance was given:

• All-in sustaining costs between $1,730 to $1,790 per ounce
• Growth capital expenditure between $1.15 billion to $1.25 billion
• Exploration expenses of $150 million

Northern Star share price snapshot

The glimmer of gold has helped the Northern Star share price outperform the S&P/ASX 200 Index (ASX: XJO) by 18% over the last year.

While the capital growth beats the benchmark, how does it stack up on an income basis? Considering today’s declared dividend, Northern Star offers a yield of 2.3% compared to the top 200’s 3.8% passive flow.

The post Northern Star share price dulls despite record $702 million cash earnings appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Thursday
• 5 things to watch on the ASX 200 on Wednesday
• 5 things to watch on the ASX 200 on Monday
• 5 things to watch on the ASX 200 on Friday
• 5 things to watch on the ASX 200 on Thursday

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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Analysts have been working overtime this month, adjusting their financial models and recommendations to reflect the release of results.

Three ASX stocks that have fared well with analysts at Morgans are listed below. Here’s what the broker is saying about them:

Camplify Holdings Ltd (ASX: CHL)

This recreational vehicles digital marketplace platform provider could be an ASX stock to buy according to Morgans. It has responded to its half-year results by retaining its add rating and $2.85 price target.

Although the market didn’t like the result, the broker remains positive. It said:

The stock closed down ~17% on result day, which we largely attribute to some seasonality in CHL’s key headline metrics (future bookings, gross margins, etc). We make several cost and margin assumption changes over the forecast period (details below). Our price target remains unchanged and we maintain an Add recommendation on the stock.

Corporate Travel Management Ltd (ASX: CTD)

Another ASX stock that was sold off following its results release is this corporate travel specialist. Morgans has responded by holding firm with its add rating but trimming its price target to $20.65.

While disappointed with its guidance downgrade, it believes it is worth sticking with the company. The broker said:

The quantum of the earnings downgrade is clearly disappointing. Given the aggressive pivot in earnings guidance from the AGM last year, the market may take time to rebuild its confidence in the outlook. However, if CTD delivers even close to its five-year strategy, the share price will be materially higher in time. We maintain an Add rating with a new price target.

Sonic Healthcare Ltd (ASX: SHL)

Finally, Morgans is a fan of this ASX healthcare stock and has retained its add rating with a $34.05 price target.

Although Sonic’s result was “mixed”, Morgans believes its turnaround targets are achievable. It said:

Uniquely, right-sizing for rapidly declining Covid-19 testing revenues (-90%) has combined with recent acquisition costs, pressuring margins and profitability. However, management remains confident in a turnaround, outlining numerous near/medium term drivers supporting underlying profitability and reflected in guidance, which we view as achievable.

The post Morgans names 3 ASX stocks to buy following results appeared first on The Motley Fool Australia.

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More reading

• Sonic Healthcare shares hit 52-week low as analysts take a scalpel to targets
• Why Corporate Travel Management, Iress, Rio Tinto, and Woolworths shares are crashing
• Corporate Travel share price plunges 18% despite tripling net profits
• Sonic share price sinks after first-half profit crash
• Retirees: Here’s how to boost your pension in 2024

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. has positions in and has recommended Corporate Travel Management. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Camplify. The Motley Fool Australia has recommended Camplify, Corporate Travel Management, and Sonic Healthcare. 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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The CSR Ltd (ASX: CSR) share price has risen 5% at the time of writing after the company confirmed it had received a large takeover bid after the rumours of interest were reported yesterday.

Takeover offer confirmed

CSR noted the media speculation about interest from Saint-Gobain about acquiring the ASX building products business.

The offer is a conditional, non-binding, indicative proposal from the large French business.

How big is the offer? It’s $9 per share, which is 7.8% higher than the current CSR share price and 25% higher than a week ago.

Under the offer, CSR would be entitled to pay a final dividend of up to 25 cents per share for its financial year ending 31 March 2024, which would be deducted from the cash offer price.

As mentioned, the offer is still subject to a number of conditions including satisfactory due diligence, unanimous recommendation from the CSR board to vote in favour of the proposed transaction, regulatory approvals and CSR shareholder approval.

This large offer from Saint-Gobain came after an earlier indicative offer and a period of negotiation. After having reviewed the proposal, CSR’s board unanimously resolved to pursue the proposal. CSR is currently providing Saint-Gobain with confirmatory due diligence so that it can put forward a binding offer at an agreed CSR share price of $9.

No certainty of a deal

The CSR board noted that there is no certainty that the proposal will result in a binding offer and it will keep the market informed as necessary.

The board also noted shareholders don’t need to take any action about this proposal at this time.

What next?

Due diligence can sometimes take a number of weeks, so it could take a while before anything concrete happens.

Even if an offer is binding, it can require months for all of the different steps to occur. The CSR share price has risen by 44% in the last six months, so shareholders have seen a big rise in the value of their shares.

The post CSR share price jumps again as blockbuster bid confirmed appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• CSR shares rocketed 17% before trading halt on acquisition speculation
• Here are the top 10 ASX 200 shares today
• Why CSR, Janison, Myer, and Santos shares are tumbling today

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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The S&P/ASX 200 Index (ASX: XJO) is lacking direction on Thursday and has just slipped into the red. The benchmark index is currently down slightly to 7,607.6 points.

Four ASX shares that are not letting that hold them back are listed below. Here’s why they are rising:

Bega Cheese Ltd (ASX: BGA)

The Bega Cheese share price is up 15% to $4.07. This follows the release of the diversified food company’s half-year results. The Vegemite owner reported a 3.2% increase in revenue to $1.73 million and a 263% increase in statutory profit after tax to $26.5 million.

Domino’s Pizza Enterprises Ltd (ASX: DMP)

The Domino’s share price is up almost 7% to $43.24. Investors have been buying this pizza chain operator’s shares since the release of an encouraging half-year result on Wednesday. In addition, this morning analysts at Morgan Stanley responded by reaffirming their overweight rating and $68.00 price target on its shares.

Lovisa Holdings Ltd (ASX: LOV)

The Lovisa share price is up 12% to $27.60. Investors have been buying this fashion jewellery retailer’s shares after it reported an 18.2% increase in revenue to $373 million and a 12% lift in net profit after tax to $53.5 million. A key driver of this first-half growth was its ongoing store expansion. This includes its first store openings in China and Vietnam.

Universal Store Holdings Ltd (ASX: UNI)

The Universal Store share price is up 15% to $4.70. This has been driven by the release of the youth fashion retailer’s half-year results. It reported an 8.5% increase in sales to $158 million and 16.7% jump in net profit after tax to $20.7 million. This allowed Universal Store board to lift its interim dividend by almost 18% to 16.5 cents per share. This dividend alone equates to an attractive 3.5% dividend yield.

The post Why Bega Cheese, Domino’s, Lovisa, and Universal Store shares are rocketing today appeared first on The Motley Fool Australia.

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More reading

• Bega Cheese shares soar 11% on profit jump
• Here are 3 ASX retail shares moving up to 19% on half-year results today
• Lovisa share price soars after opening 74 new stores in first half
• Why Codan, Domino’s, Lottery Corp, and Wisetech shares are storming higher today
• Domino’s share price charges higher on improving outlook

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ASX All Ords financial stock MA Financial Group Ltd (ASX: MAF) is tanking on Thursday after the company released its full-year FY23 report.

The MA Financial share price is down 17.26% to $4.65 at the time of writing. It hit an intraday low of $4.60 in earlier trading, representing an 18.14% fall.

Let’s check out the numbers.

ASX All Ords financial stock crashes as EPS declines 32%

Here are the key numbers for the 12 months to 31 December 2023:

• Underlying revenue down 11% on FY22 to $270 million
• Underlying earnings per share (EPS) down 32% to 26 cents per share
• Record annual gross fund inflows of $1.94 billion, up 27%
• Assets under management (AUM) up 18% to $9.2 billion
• Annual recurring revenue (ARR) up 23% to $178 million
• Fully franked final dividend of 14 cents per share payable on 20 March

What else happened in FY23?

MA Financial explained that its boosted ARR helped to partially offset the results of a “challenging macroeconomic environment”.

There was lower corporate advisory transactional activity and revenue, weaker performance fee revenue due to lower asset valuations, and a five cents-per-share negative earnings impact from strategic growth initiatives.

MA Financial highlighted the 23% boost to ARR, record fund inflows, ongoing growth in Finsure and accelerating loan volume growth for MA Money.

The company said Finsure managed loans were up 21% on FY22 to $110 billion. The loan book grew by 150% to $983 million due to the accelerating and “extremely pleasing” growth of MA Money.

What did MA Financial management say?

Co-CEOs Julian Biggins and Chris Wyke issued a joint statement, commenting:

We are very pleased with the strong underlying momentum being experienced across the business that sees the Group very much on track to deliver on its FY26 business targets.

Despite the challenging economic backdrop, we continue to see the benefits of our diversified business model, and our intentional strategy to build a business that can deliver for investors through the economic cycle.

What’s next for this ASX All Ords stock?

MA Financial released its annual report alongside its FY23 results today.

Looking ahead, MA Financial said it expected continued growth in asset management fund inflows.

However, the recurring revenue margin was expected to be lower in FY24 due to the impact of interest rates on real estate, the sale of approximately $180 million of hospitality assets, and the FY23 margin being elevated due to the strong performance of private credit funds.

The company is targeting a break-even run rate for MA Money in 2H FY24 and ongoing growth in Finsure’s revenue.

MA Financial will continue investing in strategic initiatives, including the US Private Credit platform, MA Brand, and MA Money. This is expected to impact FY24 earnings by six cents per share.

MA Financial share price snapshot

This ASX All Ords financial stock has fallen 7.4% over the past 12 months.

Over the same period, the S&P/ASX All Ordinaries Index (ASX: XAO) has risen by 4.6%.

Meantime, another ASX All Ords financial stock is flying today

Insignia Financial Ltd (ASX: IFL) shares have soared on news of the company’s 1H FY24 results.

The Insignia share price is currently $2.57, up 13.5%. It hit an intraday high of $2.63 in earlier trading.

The company reported a 1.2% increase in net profit after tax (NPAT) to $95.5 million and a statutory NPAT loss of ($49.9 million) compared to $45.1 million in 1H FY23.

Funds under management increased by 5.4% to $300.6 billion.

The ASX All Ords financial stock will pay an unfranked interim dividend of 9.3 cents per share on 3 April.

The post Which ASX All Ords stock is diving 18% on FY23 results? appeared first on The Motley Fool Australia.

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Motley Fool contributor Bronwyn Allen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Ma Financial Group. 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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