Author: roymorgansocial

Light at end of the tunnel for Ritchies Stores

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Original article by Sue Mitchell
The Australian Financial Review – Page: 21 & 26 : 9-Jul-15

Ritchies Stores’ earnings have fallen by 73 per cent since 2011, but chairman Fred Harrison says the grocery chain returned to profit growth in the 2014-15 financial year. Ritchies is supplied by grocery wholesaler Metcash, and Harrison notes that Metcash’s store refurbishment and price-matching strategy for the IGA network has helped to boost his company’s sales. Harrison adds that price competitiveness has become essential for independent grocery retailers.

CORPORATES
RITCHIES STORES PTY LTD, METCASH LIMITED – ASX MTS, INDEPENDENT GROCERS OF AUSTRALIA, COLES SUPERMARKETS AUSTRALIA PTY LTD, WOOLWORTHS LIMITED – ASX WOW, ALDI STORES SUPERMARKETS PTY LTD, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, MACQUARIE SECURITIES PTY LTD

Costa hopeful IPO will be a success

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Original article by Jared Lynch
The Australian Financial Review – Page: 17 : 8-Jul-15

Costa Group Holdings has commenced an international investor roadshow ahead of its Australian IPO, which is expected to be worth around $A1bn. Chairman Frank Costa says the fruit and vegetable group is performing well, and he hopes investors will assess the IPO on its own merits rather than being influenced by factors such as the impact of the debt crisis in Greece on global financial markets.

CORPORATES
COSTA GROUP HOLDINGS LIMITED – ASX CGC, MURRAY GOULBURN CO-OPERATIVE COMPANY LIMITED, MG UNIT TRUST – ASX MGC, PAINE AND PARTNERS LLC, UBS HOLDINGS PTY LTD, GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD

Building union facing penalties

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Original article by Ewin Hannan
The Australian Financial Review – Page: 7 : 8-Jul-15

The Fair Work Building & Construction inspectorate wants the Federal Court to impose financial penalties against the Construction, Forestry, Mining & Energy Union and 21 of its officials. The case centres on industrial action at two construction sites in Queensland in 2013, which was aimed at compelling contractors to sign an enterprise agreement. The inspectorate has identified 822 separate alleged breaches of the law by the union and its officials.

CORPORATES
CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, FAIR WORK BUILDING AND CONSTRUCTION, FEDERAL COURT OF AUSTRALIA, QUEENSLAND UNIVERSITY OF TECHNOLOGY

Purchasing power dives on lower $A

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Original article by Jacob Greber
The Australian Financial Review – Page: 1 & 4 : 8-Jul-15

Australians may face a significant reduction in their living standards in coming years, due to factors such as a lower currency, slowing growth in wages and falling revenue from commodities. Australian households ranked fifth in the world in terms of global purchasing power in 2014. However, Deutsche Bank economist Adam Boyton expects the nation to be ranked in ninth position in 2015, and 17th within two years. The bearish forecast is based on data from the International Monetary Fund.

CORPORATES
DEUTSCHE BANK AG, INTERNATIONAL MONETARY FUND, RESERVE BANK OF AUSTRALIA, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY

Crown faces earnings fall after Macau weakness

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Original article by Perry Williams
The Australian Financial Review – Page: 21 : 8-Jul-15

Australian-listed Crown Resorts’ casino joint venture in Macau recorded a 36.2 per cent decline in gross gaming revenue in June 2015, with revenue falling for the last 13 months. However, the group’s casino in Melbourne is performing well. Deutsche Bank has reduced its 2014-15 earnings forecast for Crown Resorts from $A512.1m to $A481.2m.

CORPORATES
CROWN RESORTS LIMITED – ASX CWN, MELCO CROWN ENTERTAINMENT LIMITED, CROWN MELBOURNE LIMITED, CROWNBET, BETEASY PTY LTD, ASPINALL’S CLUB LIMITED, BETFAIR AUSTRALASIA PTY LTD, BETFAIR AUSTRALIA PTY LTD, DEUTSCHE BANK AG, ECHO ENTERTAINMENT GROUP LIMITED – ASX EGP

CBA demands penalty interest

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Original article by James Eyers
The Australian Financial Review – Page: 18 : 8-Jul-15

The Federal Court is slated to rule on a proposed class action settlement concerning Willmott Forests and the Commonwealth Bank of Australia (CBA) on 23 July 2015. Some 3,500 investors have participated in the four-year class action against the fail management investment scheme operator and CBA. However, CBA has been criticised by Australian Greens senator Peter Whish-Wilson for requiring class action participants to pay penalty interest rates on their loans.

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, WILLMOTT FORESTS LIMITED, FEDERAL COURT OF AUSTRALIA, AUSTRALIAN GREENS, AUSTRALIAN LABOR PARTY, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, BENDIGO AND ADELAIDE BANK LIMITED – ASX BEN, GREAT SOUTHERN LIMITED

Kyle, Jackie O slip but Jones still king

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Original article by Max Mason
The Australian Financial Review – Page: 20 : 8-Jul-15

The latest radio ratings survey by GfK shows that 2GB presenter Alan Jones continues to dominate Sydney’s breakfast slot, with a 16 per cent audience share. The audience share of KIIS FM’s Kyle and Jackie O eased from 10.2 per cent to 8.6 per cent, although Duncan Campbell of Australian Radio Network expects their ratings to rebound. The Hit Network’s breakfast show team of Dan and Maz recorded a modest ratings increase.

CORPORATES
GFK PTY LTD, 2GB, MACQUARIE RADIO NETWORK LIMITED – ASX MRN, 101.7 WS-FM, TRIPLE M CORPORATION PTY LTD, KIIS1065, AUSTRALIAN RADIO NETWORK PTY LTD, SOUTHERN CROSS AUSTEREO PTY LTD, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, THE HIT NETWORK, AUSTRALIAN BROADCASTING CORPORATION

Atlas founder keeps faith as raising looms

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Original article by Tess Ingram, Amanda Saunders
The Australian Financial Review – Page: 15 & 20 : 8-Jul-15

Atlas Iron’s current shareholders have agreed to contribute $A15m to the iron ore producer’s $A180m capital raising. Atlas MD David Flanagan is confident that the raising will be well-received, despite the 20 per cent fall in the iron ore price in recent weeks. Flanagan has concluded an international roadshow, and will shortly pitch the capital raising to Australian retail and institutional investors. Atlas will offer the new shares at $A0.05 apiece.

CORPORATES
ATLAS IRON LIMITED – ASX AGO, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, PENGANA CAPITAL LIMITED

Coles gains on Woolworths at the deli counter

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 7-Jul-15

A Roy Morgan Single Source survey shows that 6.7 million Australian grocery buyers aged 14+ collectively spent around $A91m on delicatessen items in an average seven days in the year to March 2015. This compares with 6.4 million weekly shoppers (and $A73m spent) in the year to March 2011. The survey also shows that 43 per cent of deli shoppers buy at least some of their week’s supply of deli goods from Woolworths, down marginally from 44.1 per cent in 2011. Coles’ share of deli shoppers has risen from 31.5 per cent to 36.7 per cent over the same period.

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

Flights threat only leverage with airports, says Qantas

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Original article by Matt O’Sullivan
The Australian Financial Review – Page: 21 : 8-Jul-15

Airport fees account for around nine per cent of Qantas Airways’ costs. The carrier has expressed disappointment that the Harper review of competition policy has not adequately addressed the issue of airports’ market power with regard to airport charges. Its stance has been supported by rival carrier Virgin Australia. Qantas has argued that airlines have limited bargaining power in pricing negotiations with airports.

CORPORATES
QANTAS AIRWAYS LIMITED – ASX QAN, VIRGIN AUSTRALIA HOLDINGS LIMITED – ASX VAH, BOARD OF AIRLINE REPRESENTATIVES OF AUSTRALIA INCORPORATED, SYDNEY AIRPORT – ASX SYD, AUSTRALIA. DEPT OF INDUSTRY AND SCIENCE