Stocks to watch

Stocks of interest at the close of trading for Friday, September 20.

PMV – PREMIER INVESTMENTS – up $2.41, or 15.3 per cent, to $18.12

A stellar sales performance by Peter Alexander and Just Jeans has helped the Solomon Lew-chaired conglomerate increase its full-year net profit by 27.7 per cent to $106.8 million.

The figure would have been even higher were it not for a $26 million pre-tax charges against its UK Smiggle stores stemming from Brexit uncertainty.

IOF – IOOF – up 44 cents, or 7.9 per cent, to $5.99

The Federal Court has issued a sweeping vindication to IOOF, dismissing the financial regulator’s case against it and granting the wealth manager court costs.

The Australian Prudential Regulation Authority had sought to disqualify as superannuation trustees IOOF’s former chief executive Chris Kelaher, non-executive director George Venardos and three other executives.

RFF – RURAL FUNDS GROUP – down 9.5 cents, or 5.5 per cent, to $1.625

Shares in the agricultural property group are down 20 per cent this week, after a Hong Kong research group released a critical document alleging financial impropriety.

The allegations are similar to those made by US short seller Bonitas, which Rural Funds Management rebutted and is suing.

CLV – CLOVER CORP – up 29 cents, or 12.8 per cent, to $2.55

The omega-3 oil producer said it had increased its full-year profit by 33.1 per cent, to $10.1 million, with revenue increasing 21.8 per cent to $76.7 million.

Clover said it was working with its customers to expand the company’s products into more foodstuffs than the traditional infant formula market.

It increased its final dividend to 1.75 cents per share, from 1.25 cents a year ago.

NEU – NEUREN PHARMACEUTICALS – down 16.5 cents, or 7.7 per cent, to $1.985

The Melbourne biotech company said it had a first-half net loss of $7.9 million, leaving it with $17.3 million in cash reserves, down from $23.6 million as of December 31.

Neuren’s North American partner is set to begin a phase 3 trial of the company’s potential treatment for the genetic brain disorder Rett syndrome later this year.

PPH – PUSHPAY – up three cents, or 1.0 per cent, to $3.19

The church-friendly mobile app payments developer has upgraded its earnings guidance for the financial year, with cost savings expected to offset marginally lower revised revenue.

GMG – GOODMAN GROUP – down six cents, or 0.4 per cent, to $13.83

BKW – BRICKWORKS – up 36 cents, or 2.1 per cent, to $17.90

The building products company’s joint venture with Goodman Group has received approval from NSW to develop its Oakdale West Industrial Estate in Kemps Creek, Sydney.

The 89 hectare property at the junction of the M4 and M7 motorways will “deliver world class industrial facilities for a wide range of customers,” Brickworks managing director Lindsay Partridge said.


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