Author: roymorgansocial

Woolworths tries third rejig of loyalty scheme

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Original article by Sue Mitchell
The Australian Financial Review – Page: 3 : 23-Aug-16

Australian-listed retailer Woolworths has again changed its customer loyalty scheme. This is the third modification of the scheme in 10 months. The company decided to reintroduce Qantas Frequent Flyer points in order to make the system more attractive to AB-demographic shoppers, who switched to other supermarkets when these points were removed from the scheme in 2015. Analysts have welcomed the changes to the scheme.

CORPORATES
WOOLWORTHS LIMITED – ASX WOW, BWS – BEER WINE SPIRITS, CALTEX AUSTRALIA LIMITED – ASX CTX, AUSTRALIAN CENTRE FOR RETAIL STUDIES, BIG W DISCOUNT STORES, QANTAS AIRWAYS LIMITED – ASX QAN

No half-measures for Aussie chocolate lovers

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 19-Aug-16

A Roy Morgan Single Source survey has found that 17.4 per cent of Australians aged 14+ consumed at least one Cadbury 50g chocolate bar in an average four-week period in the year to March 2016, well ahead of Kit Kat (12.8 per cent), Cadbury-owned Cherry Ripe (11.8 per cent), Mars Bar (9.3 per cent) and Snickers (6.7 per cent). In total, 52.8 per cent of Australians consume at least one chocolate bar in an average four-week period, while 55.8 per cent of chocolate-bar eaters also eat block chocolate, well above the national average of 42.8 per cent. Meanwhile, 25.7 per cent of chocolate-bar eaters also consume boxed chocolates, compared with the population average of 18.6 per cent.

CORPORATES
ROY MORGAN RESEARCH LIMITED, CADBURY AUSTRALIA LIMITED, NESTLE AUSTRALIA LIMITED, MARS AUSTRALIA PTY LTD

Woolies’ Masters discounting dims Beacon’s stellar growth

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Original article by Sue Mitchell
The Australian Financial Review – Page: 20 : 19-Aug-16

Australian-listed Beacon Lighting Group has posted a 2015-16 statutory net profit of $A18.3m, which is eight 8 per cent higher than previously. However, Beacon recorded a 14.6 per cent decline in profits during the second half, which it attributes to large price discounts on lighting products by Masters Home Improvement. Beacon recorded overall sales growth of 7.7 per cent, while same-store sales grew by just 2.7 per cent.

CORPORATES
BEACON LIGHTING GROUP LIMITED – ASX BLX, MASTERS HOME IMPROVEMENT AUSTRALIA PTY LTD, WOOLWORTHS LIMITED – ASX WOW, MORGANS FINANCIAL LIMITED

Brambles heads to UK as Gorman exits

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Original article by Damon Kitney, Richard Gluyas
The Australian – Page: 21 & 25 : 19-Aug-16

Australian-listed logistics group Brambles has posted a 2015-16 net profit of $US588m ($A725m), which is one per cent higher than previously. Its statutory profit was six per cent lower at $US557.4m due to writedowns and impairment charges totalling $US78.1m, but revenue rose by two per cent to $US5.54bn. Meanwhile, British executive Graham Chipchase will succeed CEO Tom Gorman in early 2017, and Brambles will relocate its head office to London.

CORPORATES
BRAMBLES LIMITED – ASX BXB, FORD MOTOR COMPANY AUSTRALIA LIMITED, REXAM HOLDINGS PTY LTD, BALL CORPORATION

Origin Energy demerger chat emerges again

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 17 & 22 : 19-Aug-16

Australian-listed Origin Energy has posted a 2015-16 net loss of $A589m, compared with a loss of $A658m previously. The result was marred by after-tax impairment charges of $A515m, and the diversified energy group’s underlying profit was 41 per cent lower at $A354m. Meanwhile, Origin reduced its net debt by $A4bn to $A9.1bn due to a capital raising in 2015 and asset sales. CEO Grant King says a demerger of its LNG and energy retailing businesses remains a possibility.

CORPORATES
ORIGIN ENERGY LIMITED – ASX ORG, AUSTRALIA PACIFIC LNG LIMITED, ALLAN GRAY AUSTRALIA PTY LTD, CITIGROUP PTY LTD, JP MORGAN AUSTRALIA LIMITED, STANDARD AND POOR’S CORPORATION

Jobs growth makes for murky reading in census aftermath

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Original article by Philip Baker
The Australian Financial Review – Page: 30 : 19-Aug-16

New data from the Australian Bureau of Statistics shows that the economy added 71,600 part-time jobs in July 2016, although it shed 45,000 full-time positions. Currency traders responded positively to the net gain of more than 26,000 jobs, with the Australian dollar peaking at $US0.7720 in local trading on 18 August. However, Kate Hicks of Capital Economics notes that some of the jobs would have been temporary ones associated with the census.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, CAPITAL ECONOMICS LIMITED, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, RESERVE BANK OF AUSTRALIA, UNITED STATES. FEDERAL RESERVE BOARD

‘Sell everything’ call a distant memory

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Original article by Vanessa Desloires
The Australian Financial Review – Page: 31 : 19-Aug-16

Global sharemarkets have defied forecasts in January 2016 of a major slump, with most key indices having recovered from a sell-off in February. Andrew Mitchell of Ophir Asset Management says equities should continue to rise, unless there is a "black swan" event. Many fund managers increased their portfolios’ exposure to cash holdings following the Australian market’s downturn in April 2015, but its rebound from 2016 lows has prompted some to reinvest in equities.

CORPORATES
OPHIR ASSET MANAGEMENT PTY LTD, ROYAL BANK OF SCOTLAND GROUP PLC, FTSE 100 INDEX, BENNELONG AUSTRALIAN EQUITY PARTNERS PTY LTD, KATANA ASSET MANAGEMENT LIMITED, BANK OF AMERICA CORPORATION, MERRILL LYNCH AND COMPANY INCORPORATED, DOW JONES INDUSTRIAL AVERAGE INDEX, ORGANISATION OF PETROLEUM EXPORTING COUNTRIES

Morrison mulls super cap retreat

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 8 : 19-Aug-16

The Australian Government may make further changes to its proposed lifetime cap on non-concessional superannuation contributions. Treasurer Scott Morrison is considering options such as lifting the proposed cap from $A500,000 to $A750,000 or leaving it unchanged but not backdating it to 2007. Meanwhile, Morrison has stressed that inheritances or lottery wins will not be regarded as "life events" that will qualify for an exemption from the lifetime cap. H has also ruled out any changes to the policy on limiting retirement balance transfers to $A1.6m.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIAN RENEWABLE ENERGY AGENCY

Big four banks sued by US funds over BBSW

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Original article by James Eyers
The Australian Financial Review – Page: 3 : 19-Aug-16

A class action launched in the US may complicate the Australian Securities & Investments Commission’s litigation against three of Australia’s big four banks. The litigants, including a derivatives trader and two hedge funds, allege in documents filed in a New York court that they suffered losses because the four major banks and Macquarie Group manipulated the bank bill swap rate. The US litigation makes a settlement between ASIC and the ANZ Bank, Westpac and National Australia Bank rather unlikely.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, FEDERAL COURT OF AUSTRALIA, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, WESTPAC BANKING CORPORATION – ASX WBC, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, MACQUARIE GROUP LIMITED – ASX MQG, AUSTRALIAN LABOR PARTY, DISTRICT COURT OF UNITED STATES. SOUTHERN DISTRICT OF NEW YORK, SONTERRA CAPITAL MASTER FUND, FRONTPOINT FINANCIAL SERVICES, MAURICE BLACKBURN PTY LTD, BANK OF NEW ZEALAND, BNP PARIBAS SA, CITIBANK CORPORATION, CREDIT SUISSE AG, DEUTSCHE BANK AG, HSBC HOLDINGS PLC, JP MORGAN CHASE AND COMPANY, ROYAL BANK OF CANADA, ROYAL BANK OF SCOTLAND GROUP PLC, UC HOLDINGS, ICAP PLC, TULLETT PREBON, MORGAN STANLEY AND COMPANY INCORPORATED, LLOYD’S OF LONDON

Telstra bets on rising mobile demand for Stan, Netflix and Presto

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Original article by Max Mason
The Australian Financial Review – Page: 10 : 19-Aug-16

Customers on some Telstra mobile plans will receive three months’ free access to Netflix, Stan and Presto. The telco will also make content from all three subscription video-on-demand services available via its new Telstra TV Plus app. Video streaming over Telstra’s mobile network has increased by 30 per cent in the last year, with a strong rise in streaming during the Rio de Janeiro Olympic Games in particular.

CORPORATES
TELSTRA CORPORATION LIMITED – ASX TLS, NETFLIX INCORPORATED, STAN ENTERTAINMENT PTY LTD, PRESTO ENTERTAINMENT PTY LTD, BIGPOND MOVIES, AUSTRALIAN FOOTBALL LEAGUE, NATIONAL RUGBY LEAGUE, SINGTEL OPTUS PTY LTD, VODAFONE AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ, ENGLISH PREMIER LEAGUE, CRICKET AUSTRALIA