Daily Roundup

Commonwealth Bank of Australia delivered a solid quarter with an unaudited statutory net profit after tax of approximately $2.8 billion for the three months to September 30. Operating income climbed 3% thanks to lending and deposit volume growth, while the underlying net interest margin held steady. The bank set aside $300 million for loan impairments, maintaining what it describes as sound credit quality despite ongoing cost-of-living pressures on customers. Operating expenses ticked up 3%, driven by wage inflation, IT vendor costs, and higher cloud computing volumes. CBA's balance sheet remains robust, with capital, funding, and liquidity ratios comfortably above regulatory minimums. The bank also released its Basel III Pillar 3 disclosure, showing a CET1 ratio of 11.5% and total risk-weighted assets of $531.4 billion, with leverage and liquidity metrics holding stable.

Flight Centre Travel Group capped off a strong year with record total travel volume of $25.7 billion in FY26, despite geopolitical disruptions that stung the leisure segment. Net profit surged 38% to $149 million, with earnings per share jumping 43% to 71 cents. The company returned $87 million to shareholders through dividends and a completed $400 million buyback program. Looking ahead, the company is guiding for underlying profit before tax between $290 million and $325 million in FY27, with the second half expected to be stronger. The leisure segment is already showing signs of recovery early in the new financial year, while corporate trends remain consistent with where things stood in the final quarter of FY26. Management highlighted significant investments in artificial intelligence and digital transformation as key drivers of future growth.

PEXA Group faced headwinds in the first quarter, with transaction volumes sliding 11.5% year-on-year in a challenging property market. However, customer satisfaction in Australia remained steady at around 90%, and the company maintained its 90% market penetration. In the UK, NatWest's remortgage transactions on the PEXA platform are processing faster with improved customer satisfaction. The company is tightening its belt with disciplined cost control to protect margins amid lower transfer volumes. PEXA is guiding for full-year revenue between $355 million and $380 million with EBITDA margins of 29.0% to 31.5%. The company expects to process its first sale and purchase transaction with NatWest in March 2027 and continues advocating for a favorable outcome in the regulatory review of electronic lodgement network service fees.

New Hope Corporation announced plans to offer subordinated, perpetual, redeemable hybrid securities, subject to market conditions. Jarden Australia will serve as arranger and joint lead manager for the offer, which will be available only to Australian residents and made under a prospectus to be lodged with ASIC.

Kip McGrath Education Centres Limited will be suspended from ASX quotation effective at the close of trading on November 11 following compulsory acquisition notices from Crimson Consulting Australia Pty Ltd. The company will cease to be quoted on the exchange as a result.