Equities

We have had a change in analyst for Flight Centre Travel Group (FLT) which was last published in Aug’21, resulting in a change to our forecasts and valuation.

PTM saw funds under management (FUM) lower at $21,118m, driven by outflows of $205m or 0.9% and a reduction due to market levels of $1,140 or 5.1%.

AKE reported underlying 1H FY22 EBITDA of US$98m (BP est. US$83m) and NPAT of US$57m (BP est. US$44m).

SHV’s recent AGM comments highlighted continued subdued almond market conditions and more elevated costs than we had previously allowed for.

Eagers Automotive reported an underlying PBT of $401.8m, which was ahead of our forecast of $394.6m and the guidance of $390-395m.

FMG announced its 1HFY22 financial results, which reported record half year production volumes but lower revenue, EBITDA and earnings.