Azzet reports on three ASX stocks with price-moving updates today.
Super Retail Group slides on further revelations of former CEO scandal
Shares in Super Retail Group (ASX: SUL) were trading 3.4% lower by 1:10 pm AEST (3:10 am GMT) following the owner of Rebel, BCF, Supercheap Auto and Macpac’s decision to immediately sack its CEO, Anthony Heraghty, after the board obtained additional details about his alleged affairs with the group’s former head of human relations, Jane Kelly.
While the board was already aware of Heraghty’s affair with Kelly, its decision to terminate his employment follows the conclusion that earlier disclosures were not satisfactory.
Today’s sacking is a major about-face by the board and former chair Sally Pitkin, who vigorously defended Heraghty against allegations and a court battle when details of the illicit affair first surfaced in April last year.
As well as cutting Heraghty’s financial ties to the business, the board has also exercised its discretion to lapse Heraghty’s incentives, which include all unvested incentives and vested but unexercised rights.
What compounded initial revelations of last year’s scandal and misuse of travel budgets were accompanying allegations of bullying and a toxic workplace environment.
But while the share price fell from around $15.39 early April 2024 to $12.86 three weeks later, the stock has not only recovered lost ground but gone on to hit a new 12-month high of $18.40 early September.
The market’s reaction suggests that while recent antics aren’t great – and pointed to a corporate culture that needs remediating - in the great scope of things, they’re a sideshow, with the company’s strong fundamentals remaining intact.
This most likely explains why the stock’s share price had retraced around half of its early losses heading into lunch.
Meanwhile, the group’s chief financial officer, David Burns, has been appointed interim boss while the company searches for a new CEO.
At the full year, the group managed to deliver a 4.5% year-on-year increase in sales to $4.1 billion, with online sales being a particularly strong result, up 8% to $524 million and now representing 13% of total sales.
While the company's normalised net profit after tax was down 4% from FY 2024 to $232 million, the group delivered a sweetener to shareholders by declaring a fully franked dividend of 64 cents per share.
Meanwhile, the group has experienced a positive start to FY26, with like-for-like sales growth of 3.1% and total sales growth of 5% for the first seven weeks.
The Group plans to open 23 new stores in FY26 (Supercheap Auto 8, Rebel 8, BCF 5, Macpac 2), and close 9 stores.
Super Retail Group has a market cap of $3.8 billion; the share price is down 4% in one year and up 4% in the last month.
The stock appears to be in a strong bullish trend, confirmed by multiple indicators.
Consensus is Hold.
First Graphene rises after disclosing patent update
First Graphene (ASX: FGR) was trading 8.2% higher after the supplier of graphitic materials revealed that its United Kingdom partner Vector Group has filed patents for novel flame-resistant construction materials enhanced with PureGRAPH.
Novel flame-resistant materials containing PureGRAPH, developed by strategic UK-based partner Vector Group (“Vector”), have been filed for patent in Europe, Asia and the United States.
Recent tests of graphene-enhanced materials showed up to 100% self-extinguishing behaviour, improved structural performance, and reduced need for phosphorous-based additives.
It’s understood that the development of PureGRAPH coincides with UK building regulations tightening, and global construction markets projected to reach US$16 trillion by 2030.
Since the early 2020s, the UK has introduced a range of stricter regulatory measures for building materials, established a Building Safety Regulator and banned the use of combustible materials.
These changes, along with a raft of others slated to continue rolling out until later this decade in three phases, underscore heightened scrutiny on the safety and fire preparedness of materials used in homes and buildings, including more sustainable product solutions that resist and react to fire.
Commenting on today’s update, First Graphene CEO Michael Bell described the patent filings for graphene-enhanced fire-retardant materials as a major milestone for both companies as well as the broader construction industry.
“This innovative flame-resistant material will provide the sector with a safer and more sustainable solution at a time regulations are tightening around fire safety in homes and buildings, with a clear shift away from dangerous halogenated fire-retardant materials,” he said.
“We look forward to seeing the patent progress and are excited to take the next step in our journey with Vector Group as we work towards commercialisation of this industry-changing material.”
First Graphene has been supplying Vector with PureGRAPH to develop this innovative material since 2023, and under the multi-year deal, will continue to work with Vector to develop and deliver graphene-enhanced materials to the global construction industry.
Today’s update follows an MOU entered into between First Graphene and Perth-based Hazer Group Ltd in early September to explore potential applications for graphite produced through the proprietary Hazer Process.
Hazer CEO Glenn Corrie described the collaboration as an important step in building on the company’s graphite marketing strategy, which targets both high-volume and high-value markets.
During an investor presentation earlier this month, the company had $2.2 million in cash, while the pipeline of opportunity over 18 – 24 months has potential of $10 million.
First Graphene has a market cap of $64 million; the share price is up 54% in one year and up 185% year to date.
The stock appears to be in a strong bullish trend, confirmed by multiple indicators.
Consensus does not cover this stock.
New Hope up after posting FY25 result
Shares in New Hope Corporation (ASX: NHC) were up 7.2% after the coal miner posted a FY25 net profit of $439.4 million, with coal production up 18.1% to 10.7Mt.
Despite higher output and lower unit costs, weaker coal prices resulted in a 10.9% fall in earnings and a 7.7% drop in net profit.
As a result, the board cut the final dividend by 32% to 15 cents per share, which brought its total dividends for FY25 to 34 cents per share, equating to a dividend yield of 7.2% at current levels.
The company also introduced a dividend reinvestment plan to support shareholder returns.
Despite being impacted by significant weather events and logistics constraints in the Hunter Valley, the Bengalla Mine delivered 7.9Mt in coal sales (2024: 7.8Mt) and reduced its unit cost of production.
Meanwhile, at the new Acland Mine, the company delivered another increase in saleable coal production as the ramp-up of Stage 3 continued.
Commenting on today's announcement, management told the market that increased coal production and disciplined cost control resulted in New Hope's group Free on Board (FOB) cash costs coming in at $82.4 per tonne in FY 2025, down 8.4% from FY 2024's cash costs of $90.0 per tonne.
“Despite navigating logistics constraints, periods of wet weather and a lower coal pricing environment, we've delivered a strong performance for the 2025 financial year,” said New Hope's CEO, Rob Bishop.
“The continued execution of our organic growth plans has provided another considerable increase in saleable coal production, which has underpinned the reduction in our unit costs.”
Today’s share price increase suggests the market was encouraged by the company’s ability to go on generating solid margins within a low coal price environment.
“Looking forward, we are focused on remaining a resilient, low-cost coal producer and continuing to execute our organic growth plans, which will enable us to continue to deliver shareholder value,” Bishop said.
New Hope has a market cap of $3.9 billion; the share price is up 10% in one year and down 5% year to date.
The stock’s shares appear to be in a near-term uptrend, confirmed by its 20-day moving average.
Consensus is Hold.
This article does not constitute financial or product advice. You should consider independent advice before making financial decisions.
