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ASX closes lower as Inghams and GYG drop almost 20%

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The news: The Australian sharemarket closed lower with companies reporting their full-year earnings again leading the day’s losers and its winners.

The ASX 200 fell 0.57% to end at 8,967.4 with seven sectors finishing in red.

Healthcare (-2.4%) was the worst performing sector as CSL (-4.2%), Resmed (-1%) and Fisher & Paykel (-1.9%) posted losses.

The consumer staples sector (-2%) also fared poorly worst performing sector as Inghams Group (-20.3%) posted the biggest loss on the ASX 200. The poultry producer has guided lower underlying EBITDA for FY26 after posting a 11.5% profit fall in FY25 and a decline in sales. Woolworths (-1.5%) and Coles (-3.3%) also posted losses.

Biggest movers:

  • SkyCity Entertainment Group (-29.8%) – Emerged from a trading halt after completing a NZD240 million ($217 million) equity raise with shares offered at a 30% discount to its last close price on the NZX. The company also reported a swing to full-year statutory profit on Thursday.
  • GYG (-18.2%) – Recorded $1.18 billion in full-year sales, a 23% year on year gain, across its network but issued “very soft” guidance for FY26, according to RBC Capital Markets analyst Michael Toner.
  • Accent Group (-17.8%) – The Hype DC and Platypus owner issued softer-than-expected guidance for the 2026 financial year.
  • Monash IVF (-13.7%) – Reported a weaker-than-expected EBIT margin and FY26 guidance as well as a fall in market share.
  • Cuscal (+24.4%) – Has agreed to acquire payments infrastructure business Indue for a cash consideration of $75 million. Cuscal also reported a 9% drop in full-year profit.
  • Zip (+20.2%) – Posted a $79.89 million full-year net profit amid strong US growth and flagged it is considering a dual listing on the Nasdaq.
  • Helia (+1.8%) – The mortgage insurance provider posted a 38% lift in half-year net profit after tax to $133.7 million, and raised its full-year guidance.

Other earnings news:

  • Regis Resources (-9%) – Swung to a full-year net profit of $254 million, having dropped to a $186 million loss last year, boosted by a surge in gold prices.
  • GQG Partners (-3%) – Posted a 10.8% rise in funds under management and an increase in net revenue for the first half of fiscal year 2025.
  • Latitude (+0.4%) – Posted a 341% leap in first-half profit to $39.7 million.

Other news:

  • Webjet Group (+0.5%) – Agreed to acquire all shares in corporate travel management business Locomote for $17 million. Also announced a $25 million on-market share buyback program.
  • HMC Capital (-0.3%) – Managing director David Di Pilla has acquired $5 million worth of HMC Capital shares through three separate related trusts.

What’s ahead:

  • US Federal Reserve chair Jerome Powell will speak about the economic outlook and monetary policy at the Jackson Hole Economic Policy Symposium at midnight AEST.
  • Bank of England governor Andrew Bailey and Bank of Japan governor Kazuo Ueda will speak at the symposium on a panel titled “the policy implications of labor market transition” on Sunday at 2:25am AEST.
  • The UK will have a bank holiday on Monday.

By Brandon How