A UK research report has found a growing number of couples over 60 live in separate households, a trend particularly pronounced among those entering a new relationship at this stage of their lives. Improved mental health is a bonus.
Speakers of the calibre of David Knoff, the expedition leader stranded with his team in Antarctic during COVID, can regularly be heard at this global institution that places a premium on knowledge, not qualifications.
ASX reporting season: CBA and Dexus
CBA (ASX:CBA) Result comes in neat and tidy
- Cash profit for HY of $3.89 billion, versus the analysts’ consensus expectation of $3.76 billion
- Strong balance sheet with $10 billion in excess capital
- Higher dividend and capital strength
CBA shares are down in early trade despite posting a “beat” on cash earnings. The bank posted a HY cash profit of $3.89 billion, which was slightly higher than the analysts’ consensus expectation of $3.76 billion. All eyes were on the interim dividend, which came in at $1.50 per share, up from the 98 cents final dividend announced in August, but lower than last year’s $2.00 a share. Net profit dipped 21 per cent to $4.88 billion, and revenue eased 1%, to $11.9 billion. The net interest margin pulled back to 2.01% due to higher liquid balances (unused cash) and the impact of the lower rates.
CBA said: “despite this positive outlook, there were still health and economic risks that could slow down the recovery, and the bank continued to monitor its loan portfolio for signs of stress, and to support customers.”
Overall, a clean result with no nasty surprises.
Dexus (ASX: DXS) – Strong results despite the impact of the pandemic.
Shares up +3% in early morning trade. The property heavyweight posted a profit of $442.9 millio for the December half-year, which was above an expected $387.7 million. H1 funds from operations (FFO) came in at 34.4 cents a share, above an expected FFO consensus of 24 cents. Revenue was $626.6 million versus $583.5 million a year ago. Predictions of a collapse in the office and industrials real estate sector did not materialise, with Dexus maintaining high occupancy rates, of 96 per cent in its office sector, and 95.5 per cent in its industrial sector. With rent collections at 96 per cent for the entire portfolio, the result was strong despite impacts from the pandemic.
Looking forward, the office portfolio may face tough conditions as tenants re-evaluate space needs and delay decision-making. Then there is also the effect of increasing incentives that will need to be factored-in going forward.
Overall, the Dexus result highlighted the group’s resilience with rents in its key city office blocks remaining largely unchanged, but going forward the group is concerned that effective rents could come under pressure due to increasing incentives to retain and lure customers.
