Company Interview / the COB: treading water

The local market took a breather during Wednesday’s trade amid a busy day on the reporting calendar and after US stocks snapped their 8-day rally ahead of the Jackson Hole symposium.The ASX 200 gained 12.80 points to 8010.50. The big miners rose as iron ore futures climbed, and gold stocks neared a four-year high.Energy stocks dropped on lower oil prices, with Santos the biggest loser. Santos posted a 9% drop in 1H revenue to US$2.7B but will pay a record interim dividend. Among other reporting season highlights, insurer IAG posted a near 8% jump in FY profit to $898 million and lifted its full year dividend by 80% to 27 cents. Less volatile weather conditions, and an 11% rise in insurance premiums thanks to higher price pressures helped boost its bottom line.Shopping centre giant Scentre Group posted 1H profit of $404 million, which included an unrealised property valuation decrease of $120 million. Funds from operations in the six months to June rose 2% to 10.95 cents per security. Domino's Pizza posted a 2% drop in full year profit to $120.4 million and is seeing a slower than expected start in same-store sales at the start of FY25. Shares fell 1.4%. Wisetech shares rallied after net profit rose 24% in the year to $263 million. Elsewhere Superloop rose to a more than five-year high after narrowing its FY loss and Ventia Services hit a record high on an upbeat FY24 outlook.