Author: roymorgansocial

On a knife’s edge: the decline of the butcher

roymorgansocial Leave a comment

Original article by Roy Morgan Research
Market Research Update – Page: Online : 24-Feb-16

A Roy Morgan Single Source survey has that 70.7 per cent of Australian grocery buyers aged 14+ bought fresh meat in the year to December 2015, compared with 75.6 per cent in the year to December 2013. Meanwhile, the proportion of grocery buyers who purchase their fresh meat at the butcher’s in any seven-day period has fallen from 23.1 per cent to 17.9 per cent over the same period. Despite the decline, butchers still hold a 23.5 per cent share of the total fresh-meat market, due to the amount their shoppers spend in an average seven days ($A37).

CORPORATES
ROY MORGAN RESEARCH LIMITED, ALDI STORES SUPERMARKETS PTY LTD, WOOLWORTHS LIMITED – ASX WOW, COLES SUPERMARKETS AUSTRALIA PTY LTD, IGA, FOODLAND AUSTRALIA LIMITED

Cabinet digs in as PM backflips on CGT

roymorgansocial Leave a comment

Original article by Phillip Coorey
The Australian Financial Review – Page: 4 : 24-Feb-16

Prime Minister Malcolm Turnbull has told Parliament that changes to the 33 per cent capital gains tax discount on the sale of superannuation funds’ assets may be part of the Federal Government’s tax reform agenda. He had previously given indications that CGT reforms had been ruled out, but claims that he was specifically referring to the Opposition’s CGT proposals. Meanwhile, cabinet ministers have agreed to wait until the May 2016 Budget to announce the Coalition’s tax policies.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY

‘Vigilante’ building workers face $10,800 fines

roymorgansocial Leave a comment

Original article by Ewin Hannan
The Australian Financial Review – Page: 6 : 24-Feb-16

Fair Work Building & Construction (FWBC) intends to prosecute 52 construction workers at the Longford gas processing plant in Gippsland over unlawful industrial action in February 2015. The Australian Workers’ Union argues that the stop-work action was to protest against the dismissal of a probationary employee. The union’s Victorian secretary, Ben Davis, has criticised FWBC director Nigel Hadgkiss for describing the actions of the workers as "vigilantism".

CORPORATES
FAIR WORK BUILDING AND CONSTRUCTION, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, FOREST MEIERS CONSTRUCTION PTY LTD

Scentre posts steady growth, higher fees

roymorgansocial Leave a comment

Original article by Robert Harley
The Australian Financial Review – Page: 35 : 24-Feb-16

Australian-listed shopping centres landlord Scentre Group has reported that its funds from operations rose by 3.8 per cent to $A1.199bn in calendar 2015, which equates to $A0.2258 per security. The real estate investment trust expects funds from operations to increase by three per cent in 2016. Investors will receive a full-year distribution of $A0.209 per security, which is forecast to rise to $A0.213 in 2016.

CORPORATES
SCENTRE GROUP – ASX SCG, WESTFIELD CORPORATION – ASX WFD, MORGAN STANLEY AUSTRALIA LIMITED

Ainsworth cashes out $473m pokies stake

roymorgansocial Leave a comment

Original article by Perry Williams
The Australian Financial Review – Page: 21 : 24-Feb-16

Australian-listed poker machine maker Ainsworth Game Technology has posted a 2015-16 interim net profit of $A33.1m, which is four per cent lower than previously. Meanwhile, founder Len Ainsworth has sold his 53 per cent stake in the group to Novomatic for about $A473m. Ainsworth will remain chairman, and intends to donate some of the proceeds of the sale to philanthropic causes such as medical research.

CORPORATES
AINSWORTH GAME TECHNOLOGY LIMITED – ASX AGI, NOVOMATIC, ARISTOCRAT LEISURE LIMITED – ASX ALL, ST VINCENT’S HOSPITAL SYDNEY LIMITED, WATERMARK FUNDS MANAGEMENT PTY LTD

Qube and Brookfield put aside rivalry in joint bid for Asciano

roymorgansocial Leave a comment

Original article by Jenny Wiggins
The Australian Financial Review – Page: 13 & 18 : 24-Feb-16

Shares in ports and rail group Asciano closed $A0.14 higher at $A9.01 on 23 February 2016, after its two suitors joined forces to propose a combined offer of $A9.28 per share. Qube Holdings and Brookfield Infrastructure Partners have been engaged in a long-running takeover play for Asciano, but their new proposal would result in them each holding a 50 per cent stake in the Patrick ports division. Their consortium partners would in turn acquire the Pacific National rail arm.

CORPORATES
ASCIANO LIMITED – ASX AIO, QUBE HOLDINGS LIMITED – ASX QUB, BROOKFIELD INFRASTRUCTURE PARTNERS LP, PATRICK CORPORATION LIMITED, PACIFIC NATIONAL PTY LTD, BROOKFIELD ASSET MANAGEMENT INCORPORATED, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIAN AMALGAMATED TERMINALS PTY LTD, GLOBAL INFRASTRUCTURE PARTNERS, CANADA PENSION PLAN INVESTMENT BOARD, CIC CAPITAL CORPORATION

BHP cuts dividend 75pc; goes hunting for deals

roymorgansocial Leave a comment

Original article by Amanda Saunders
The Australian Financial Review – Page: 1 & 19 : 24-Feb-16

BHP Billiton has abandoned its progressive dividend policy after posting a 2015-16 interim net loss of $US5.7bn. Underlying earnings were 92 per cent lower at $US412m. The half-year results were marred by write-downs associated with BHP’s oil and gas business, and a restructuring has resulted in the departure of the heads of its iron ore and petroleum divisions. Shareholders will receive an interim dividend of just $US0.16 per share, compared with $US0.62 previously.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, ABERDEEN ASSET MANAGEMENT LIMITED, ANGLO AMERICAN PLC, GLENCORE PLC, ARGO INVESTMENTS LIMITED – ASX ARG

Caltex retains M&A firepower with modest buyback

roymorgansocial Leave a comment

Original article by Brian Robins
The Australian Financial Review – Page: 15 : 24-Feb-16

Caltex Australia has posted a net profit of $A522m for calendar 2015, compared with $A20m in 2014. Underlying earnings on a replacement cost operating profit basis increased from $A795m to $A977m. However, the downturn in the crude oil price impacted on revenue, which fell from $A23.9bn previously to $A20bn. Shareholders will receive a final dividend of $A0.70 per share and a full-year payout of $A1.17, while Caltex will repurchase $A270m worth of its shares.

CORPORATES
CALTEX AUSTRALIA LIMITED – ASX CTX, CAR NEXT DOOR PTY LTD

ANZ-Roy Morgan Australian Consumer Confidence tracking up – now at 114.3

roymorgansocial Leave a comment

Original article by Roy Morgan Research
Market Research Update – Page: Online : 23-Feb-16

The ANZ-Roy Morgan Consumer Confidence rating for Australia rose by 0.6 per cent to 114.3 in the week ended 21 February 2016. The 2.8 per cent increase over the past three weeks partially retraces the declines recorded through January. With the negative impact from the financial market volatility in early January appearing to be short-lived, confidence is now tracking higher with most sub-indexes showing an improvement. Consumer confidence in the past few weeks shows that consumers’ views towards their current personal finances and the near term economic outlook were most sensitive towards the financial market rout, falling between 6-8 per cent in the last four weeks of January. They have, however, recovered in the past three weeks, with both rising a cumulative 4.2 per cent. Overall though, households’ confidence in the economic outlook remains much weaker than their view of their own finances.

CORPORATES
ROY MORGAN RESEARCH LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

New media reform brawl brews

roymorgansocial Leave a comment

Original article by Darren Davidson, Jake Mitchell
The Australian – Page: 2 : 24-Feb-16

Regional TV broadcasters have welcomed the Federal Government’s proposed changes to cross-media ownership laws, particular new local content requirements. Both the "reach rule" and the "two-out-of-three rule" will be abolished if the reforms proceed. However, News Corp Australia’s executive chairman Michael Miller says the reforms should be more extensive, and should include the anti-siphoning list for sports broadcasts. Seven Group CEO Ryan Stokes agrees that the reforms are too limited.

CORPORATES
AUSTRALIA. DEPT OF COMMUNICATIONS AND THE ARTS, NEWS CORP AUSTRALIA PTY LTD, NEWS CORPORATION – ASX NWS, SEVEN GROUP HOLDINGS LIMITED – ASX SVW, SEVEN WEST MEDIA LIMITED – ASX SWM, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, SEVEN NETWORK LIMITED, NINE NETWORK AUSTRALIA LIMITED, TEN NETWORK HOLDINGS LIMITED – ASX TEN, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, WIN CORPORATION PTY LTD, PRIME MEDIA GROUP LIMITED – ASX PRT, FOXTEL MANAGEMENT PTY LTD, NATIONAL PARTY OF AUSTRALIA, LIBERAL PARTY OF AUSTRALIA, APN NEWS AND MEDIA LIMITED – ASX APN, KIIS1065, PURE GOLD