Fortescue Metals Group shares are up 6 per cent to $6.73, the highest levels since March 2017 and its no surprise after it tripled its dividends to 30 cents a share and significantly accelerated its distribution of franking credits. The half-yearly result revealed this morning is well ahead of analyst expectations.

The iron ore miner's statutory net profit of $US644 million ($899 million) in the six months through December was up 227 per cent on the June half, beating analyst expectations of a $US546 million result.

Fortescue said it would reward shareholders with a fully franked dividend of 30 cents per share, payable on 22 March. The bumper cash splash includes a 19 cent per share interim dividend, and a 11 cent special dividend, the company said in a statement on Wednesday to the ASX.

Read the full story from Darren Gray here

Plastic packaging maker Pact Group is hitting lows again, currently down by 13 cents to $2.98, after reporting a statutory loss of $320 million. This was expected after it warned the market of a non-cash asset impairment a few weeks ago. Pact cancelled its interim dividend.

Pact's sales revenue increased 13 per cent to $915 million for the six months ending December 2018, but earnings and profits declined. Profit is $36 million, down from $51 million before the asset writedown is taken into account.

Chief executive Raphael Geminder called it "a very challenging start to the year". Pact expects full year earnings to be in the range of $230 million to $245 million. In 2017-18 earnings were $234 million.

"The range is impacted by uncertainty around the speed with which revenue and efficiency projects can be delivered and the rate with which input cost lags can be recovered," the company told the market this morning.

"The board will continue to balance the capital needs of the business with shareholder returns in order to make a final assessment regarding reinstating dividends at the appropriate time."

The S&P/ASX 200 is currently 15.6 points higher at 6122.5. It is being driven higher by a 1.8 per cent rise in BHP Group tp $37.71, 2.2 per cent rise in Rio Tinto to $94.59, and 7.3 per cent rise in a2 Milk to $13.24.

Woolworths is dragging on the market with a 5.9 per cent fall to $28.46, and Scentre Group is down 2 per cent to $3.93, and WiseTech is down 14.5 per cent.

Like yesterday, there are unusually large swings in the share price of companies reporting results. Six companies in the top 200 are moving by more than 10 per cent already.

Wisetech shares fell heavily Wednesday morning despite unveiling strong earnings and profit growth for the December half after logistics solutions provider's full year forecast failed to meet the market's high expectations. Shares are down 13.6 per cent to $20.16.

Wisetech reported a 68 per cent lift in total revenue to $156.7 million compared to the prior first half and a 48 per cent lift in net profit to $23.1 million. It also lifted its interim dividend by 43 per cent to 1.5c per share.

But the company forecast revenues for the year will be up to 51 per cent higher at $335 million and earnings before interest tax, depreciation and amortisation (EBITDA) would be between $102 million and $107 million for the year, a rise of up to 37 per cent.

According to Bloomberg, market consensus was for revenue of $338 million and EBITDA of $112.7 million.

Fast food giant Domino's Pizza grew sales by 14 per cent in the first half, but its profit has been dragged down more than 9 per cent by higher wages and other costs. Shares are down 7.5 per cent, or $3.35, to $42.47, the lowest price since January 10.

The company on Wednesday reported net profit of $53.3 million for the six months to December 30, compared to $58.6 million a year earlier. Meanwhile its profit took a $8.3 million hit from paying higher wages, following several underpayment scandals, and a $52 million expense from the changes to its advertising fund.

Earnings were down 6.8 per cent in Australia, down 25 per cent in Europe but grew 34 per cent in Japan.

We will have updates from the result conference call shortly.

Corporate Travel Management shares are up 13.8 per cent to $28.58 this morning after it reported revenue grew 23 per cent in the last six months of 2018 compared to the same period in 2017. Profit attributable to members grew 27 per cent to $38.8 million.

Corporate Travel Management came under intense short selling pressure last year and was subjected to an attack by hedge fund VGI Partners.

This morning Corporate Travel Management said it was tracking at the top end of its earnings guidance for the financial year, with its underlying earnings up 20 per cent, which would take full year EBITDA to $150 million.

The company increased the interim dividend to 18 cents a share, fully franked, payable April 12. Morgans' senior analyst Belinda Moore said it was a strong result that exceeded her forecast.

a2 Milk reported a record net profit in the six months to December 31 to $NZ153 million ($147 million), up 55 per cent. Shares have jumped 92 cents, up 8.4 per cent, in early trading to $13.37, the highest price ever.

The net profit was 11.7 per cent better than Morgan analysts' estimates. Company revenue grew by 41 per cent to $NZ613 million while earnings before interest, tax, depreciation and amortisation (EBITDA) was up 53 per cent to $NZ218 million.

a2 said its total sales in the Australia-New Zealand market jumped 37 per cent to $NZ418 million, in China and Asia sales grew by 33 per cent to $NZ117 million, and in the UK and USA 30 per cent to $NZ23 million. Chief executive Jayne Hrdlicka said the company was not expecting revenue in China to dip at all in the face of new e-commerce laws that were introduced to the country last month.

a2 is not paying a dividend.

BHP shares softened on the London stock market overnight after its results were released, dropping 0.2 per cent to 17.95 pounds. In the United States, where a BHP depository receipt trades, the price increased 0.8 per cent to $53.20.

Shares closed at $37.01 on the Australian stock market on Tuesday, just before it reported an 8 per cent fall in its underlying attributable profit to $US4.03 billion ($5.66 billion) for the December half, but said it would pay an interim dividend the same size as last year's.

The profit result was a little below analyst expectations, but the 55 US cent per share dividend was two cents higher than consensus forecasts. The miner said a series of unplanned production outages at some of its assets had delivered a significant financial hit.

Pipeline owner APA has seen profits jump by more than a quarter after a year of uncertainty and as founder Mick McCormack steps away from the company. APA's revenue marked an incremental increase of 4.1 per cent to $1.24 billion for the first half of the financial year, while net profits leapt 27 per cent year on year to lift from $124 million to reach $157.4 million.

The company increased its partially franked dividend by 2.4 per cent to 21.5 cents. Franking credits of 3.2 cents will be allocated to the dividend paid on 13 March. It has flagged a full-year payout of 46.5 cents.

APA chairman Michael Fraser said the continued strong performance came at a time of an uncertain future for the company.

"This is a very sound result and even more pleasing as it was achieved during a period of relative uncertainty caused by the proposed scheme of arrangement with CKI," Mr Fraser said.

Hong Kong-based infrastructure firm CKI made a $13 billion takeover bid for APA in 2018, however, it was knocked back by the government over concerns it would give CKI a gas pipeline monopoly in Australia.

"We said we would get on with business as usual and focusing on our customers' needs while the process played out, and the results announced today demonstrate that is what we have done," Mr Fraser said.

Fortescue Metals Group has tripled its dividend to 30 cents a share, after it posted a statutory net profit of $US644 million that was comfortably ahead of analyst expectations. Shares last traded at $6.35.

The iron ore pureplay's profit was boosted by higher prices for its iron ore delivered to China, with realised prices for its ore up 18 per cent in the December half compared to the preceding June half, to $US47 per dry metric tonne.

In a statement to the market before trading commenced Fortescue said it would reward shareholders with a fully franked 30 cent dividend, payable on 22 March. The bumper dividend includes a 19 cent per share interim dividend, and a 11 cent special dividend.