ASX 200 jumps 1.5% higher, Collins Foods (CKF) shares jump

The ASX 200 (ASX: XJO) has jumped 1.5% this morning, with some shares releasing positive updates.

Collins Foods (ASX: CKF) reports FY20 result

The company reported that FY20 revenue rose by 8.9% to $981.7 million. KFC Australia delivered same store sales (SSS) growth of 3.5%. KFC Europe suffered a SSS decline of 5.8%, mainly due to COVID-19. Taco Bell is still expanding with a shift towards drive-thru and delivery. During the period, six new restaurants were opened in Queensland and two in Victoria, bringing the total to 12.

Excluding the accounting changes due to AASB 16, underlying EBITDA (click here to learn what EBITDA means) rose by 6.3% to $120.6 million.

Similarly excluding the accounting changes due to AASB 16, underlying net profit rose 5.1% to $47.3 million. Statutory EBITDA was $175.6 million and statutory net profit was $31.3 million.

Collins Foods announced a fully franked final dividend of 10.5 cents per share, the same as last year. But the total FY20 dividend was 20 cents, up from 19.5 cents last year.

The Collins Foods share price is up by 13%.

Brickworks (ASX: BKW) and Goodman (ASX: GMG) win over Amazon

The Brickworks share price is up 5% after making an announcement about its joint venture property trust with Goodman.

The lease is a pre-commitment for 20 years with Amazon at the Oakdale West Estate in Western Sydney, conditional on regulatory approvals.

The state of the art distribution facility will be a landmark development for the JV trust. It will be on 14.9 hectares of land and a base floor area of 53,500 square metres. The high-bay facility will be 26 metres high with three mezzinine levels with a total of 191,170 square metres of usable floor space.

The JV trust aims to complete the building in the second half of FY21. Infrastructure works to the estate will commence following development approval being secured.

Amazon is the second customer to pre-commit to Oakdale West, following the Coles (ASX: COL) announcement a year and a half ago.

After these two facilities are completed, the gross assets across the JV Trust is expected to be worth more than $3 billion. The JV Trust has sufficient remaining land to provide in excess of a five year development pipeline.

Freedom Foods (ASX: FNP) CEO resigns

The Board of Freedom Foods announced that last night it accepted the resignation of Managing Director and CEO Rory Macleod. Mr Macleod has resigned from all Board and executive positions.

Further to what the company announced a week ago, Freedom Foods has engaged Ashurt and PwC to advise and assist with ongoing investigations into the company’s financial position.

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