Balanced Portfolio

Balanced Portfolio

Earnings Update – BHP Group Limited (BHP)

Challenger exceeded EPS expectations and maintained strong capital and cost control, but asset and liability experience losses, weaker annuity sales, and accounting distortions impacted statutory profits. While structural improvements in capital efficiency and expense management are evident, sales momentum in annuities remains a key challenge going into H2 FY25.

Balanced Portfolio

Earnings Update – Challenger Ltd (CGF)

Challenger exceeded EPS expectations and maintained strong capital and cost control, but asset and liability experience losses, weaker annuity sales, and accounting distortions impacted statutory profits. While structural improvements in capital efficiency and expense management are evident, sales momentum in annuities remains a key challenge going into H2 FY25.

Balanced Portfolio

Earnings Update – Sell Audinate Group Ltd (AD8)

Audinate Group Limited reported 1H25 earnings that exceeded market expectations, particularly in terms of EPS (-$0.02 vs. -$0.12 expected). However, the company remains in a transitional phase, dealing with ongoing inventory overhang from OEM customers while seeing promising growth in software revenues and product mix shifts.

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