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BEST AND WORST STOCKS OF THE WEEK S&P/ASX 200
ASX: CNU
ASX: ELD
ASX: SAR
ASX: TPG
ASX: CTD
ASX: HUB
ASX: FLT
ASX: VUK
-3.5%
+15.2%
+13.8%
+13.8%
+10.9%
-21.2%
-20.5%
-18.8%
-16.4%
SOURCE: THE MOTLEY FOOL, 5/3/2020
MAJOR CURRENCIES
-1.91%
-2.82%
-1.18%
+0.01%
-2.50%
-1.64%
-1.03%
-3.18%
UNCERTAINTY IN EDUCATION SECTOR This week’s highlighted stock is G8 Education Ltd (ASX:GEM). The company, headquartered in Varsity Lakes, Queensland, was on our list of worst performing stocks last week, taking fifth place. Unlike last week’s IDP Education Ltd (ASX:IEL), G8’s decline has been in no small part due to COVID-19 concerns. G8 operates in the early childhood education field, with staff numbering over 7,000 between Australia and Singapore. Financial data takes precedence over coronavirus concerns however, with the virus being merely ancillary
to the effect releasing their 2019 full year report has had on share price over the last month. While revenue was up from the previous year, EBIT declined a significant 2.8%. This decline was reflected on the bottom line with a 3.9% decline in underlying net profit after tax, and a 4.8% decline in earnings per share. While the impact of last year's report was visible last week, its true impact can only be seen by looking at the previous month, as well as upcoming weeks. In a statement, G8’s management warned of concerns that the
bushfires and especially the COVID19 outbreak made trading conditions tough, with many parents worried for the safety of their children being in close proximity to other children. Going forward, experts and investors alike express concern that an increase in the virus’ prominence or intensity would not bode well for the company, causing much uncertainty for G8’s future. Further info: https://www.fool.com.au/2020/02/24/g8education-share-price-tumbles-lower-on-fy2019-results/
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ISSUE 4, VOLUME 201 13th MARCH 2020
CATCH UP ON THE WEEK THAT WAS IN BUSINESS NEWS
EDITORS: MATTHEW GHAFARI & MIAD JAMALI PUBLISHED BY THE BOND INVESTMENT GROUP