Author: roymorgansocial

Consumer satisfaction with banks remains near record in April but high value customers not so happy

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 4-Jun-15

A Roy Morgan Research Consumer Banking Satisfaction Report shows that the satisfaction level of the personal customers of Australia’s banks fell by 0.1 per cent in April 2015, to 82.8 per cent. It remains just below the 20-year high of 82.9 per cent. The Commonwealth Bank had the highest consumer satisfaction rating of the four major banks, at 82.2 per cent, but Westpac was the top-rated bank in terms of main financial institution (83.6 per cent). Meanwhile, the satisfaction rating of mutual banks rose by 3.3 per cent points to 92.2 per cent.

CORPORATES
ROY MORGAN RESEARCH LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, WESTPAC BANKING CORPORATION – ASX WBC, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, TEACHERS MUTUAL BANK LIMITED, MEMBERS EQUITY BANK PTY LTD, BENDIGO BANK

NSW’s $13b power sale gets green light

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Original article by Will Glasgow
The Australian Financial Review – Page: 7 : 4-Jun-15

The New South Wales Government will shortly begin the sale process for the electricity network, with the enabling legislation set to be passed by Parliament in early June 2015. The Government has secured the support of the Christian Democratic Party after agreeing to guarantee some 6,670 jobs for the next five years. However, Mark Lennon of Unions NSW says the Government should have included staff transfer payments in the privatisation bill.

CORPORATES
CHRISTIAN DEMOCRATIC PARTY (FRED NILE GROUP), NEW SOUTH WALES. DEPT OF PREMIER AND CABINET, AUSTRALIAN ENERGY REGULATOR, TRANSGRID, NETWORKS NSW PTY LTD, AUSGRID PTY LTD, ENDEAVOUR ENERGY LIMITED, UNIONS NSW, DEUTSCHE BANK AG, UBS HOLDINGS PTY LTD

Retailer profits under pressure

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Original article by Sue Mitchell
The Australian Financial Review – Page: 19 : 4-Jun-15

UBS and the Australian Food & Grocery Council have produced a report which shows that supermarket groups’ profit margins have increased at the expense of suppliers over the last five years. However, the report concludes that rising competition in the grocery sector is set to shift the balance in favour of suppliers. Woolworths boasts a margin of eight per cent, which is sigificantly higher than the global average.

CORPORATES
UBS HOLDINGS PTY LTD, AUSTRALIAN FOOD AND GROCERY COUNCIL, WOOLWORTHS LIMITED – ASX WOW, COLES SUPERMARKETS AUSTRALIA PTY LTD, ALDI STORES SUPERMARKETS PTY LTD, KPMG AUSTRALIA PTY LTD

Income hit to living standards

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

New figures show that Australia’s real GDP grew by a higher-than-expected 0.9 per cent in the March 2015 quarter, and by 2.3 per cent year-on-year. However, real GDP growth has remained below the long-run average for the last 11 quarters, while average income has fallen in each of the last four quarters. Treasurer Joe Hockey says the GDP data highlights the continued strength of the domestic economy, but economist Dr Andrew Charlton is concerned about the outlook for the economy and the nation’s living standards.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN BUREAU OF STATISTICS, ALPHABETA, THE BOSTON CONSULTING GROUP PTY LTD, RESERVE BANK OF AUSTRALIA, BANK OF AMERICA AUSTRALIA LIMITED, MERRILL LYNCH (AUSTRALIA) PTY LTD, CITIGROUP PTY LTD

Exemplary Smart work to test secondary market for first time

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Original article by Jane O’Sullivan
The Australian Financial Review – Page: 15 : 4-Jun-15

Sotheby’s will hold an Important Australian Art auction in August 2015. Paintings that will go under the hammer include Jeffrey Smart’s "Morning Practice, Baia", which is expected to fetch between $A550,000 and $A750,000. The painting has been owned by one family since 1970, and Sotheby’s Australia chairman Geoffrey Smith says it has generated much interest among the firm’s clients.

CORPORATES
SOTHEBY’S AUSTRALIA PTY LTD, DEUTSCHER AND HACKETT PTY LTD, SAMSTAG MUSEUM OF ART, TARRAWARRA MUSEUM OF ART LIMITED, BONHAMS AUSTRALIA PTY LTD

Rio iron ore boss keeps eye on prize

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Original article by Amanda Saunders
The Australian Financial Review – Page: 17 & 22 : 4-Jun-15

Rio Tinto’s iron ore operations boasted a cash cost of about $US20 per tonne in the first half of 2014-15, but the group aims to reduce this to $US17/tonne in the second half. Andrew Harding, the head of the iron ore division, concedes that it is getting harder to further reduce costs after Rio’s aggressive push in recent years. Rio is also negotiating more favourable contracts with its suppliers and introducing automation technology.

CORPORATES
RIO TINTO LIMITED – ASX RIO, BHP BILLITON LIMITED – ASX BHP, FORTESCUE METALS GROUP LIMITED – ASX FMG, VALE SA

Battle for eyeballs to play out ‘within 12 months’

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Original article by Max Mason
The Australian Financial Review – Page: 23 : 4-Jun-15

FetchTV CEO Scott Lorson estimates that up to five million Australian households could potentially take out a subscription to a streaming video service. He does not expect any of the rival groups to be able to operate at a loss for very long, and forecasts that they will succeed or fail within the next year. However, other media industry experts say the emerging sector is a long-term proposition.

CORPORATES
FETCHTV PTY LTD, QUICKFLIX LIMITED – ASX QFX, STAN ENTERTAINMENT PTY LTD, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ, PRESTO ENTERTAINMENT PTY LTD, NETFLIX INCORPORATED

Default fund choice aired

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Original article by Sally Rose
The Australian Financial Review – Page: 21 : 4-Jun-15

The financial system inquiry concluded that Australian superannuation fees are too high, costing members about $A20bn a year. Inquiry chairman David Murray has told a conference of the need for increased competition in the sector in order to reduce fees, while Assistant Treasurer Josh Frydenberg has flagged possible changes to the default super fund regime to boost competition. However, industry and retail super fund executives disagree on whether such reforms will result in lower fees.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, COLONIAL FIRST STATE GROUP LIMITED, INDUSTRY FUND SERVICES PTY LTD, RICE WARNER ACTUARIES PTY LTD, GRATTAN INSTITUTE, COMMITTEE FOR SUSTAINABLE RETIREMENT INCOMES, ERNST AND YOUNG, AMP LIMITED – ASX AMP, CHALLENGER LIMITED – ASX CGF, DIMENSIONAL FUND ADVISORS

Hepatitis A recall takes bite from Patties profit

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Original article by Jared Lynch
The Australian Financial Review – Page: 23 : 4-Jun-15

Patties Foods has advised that it is likely to post a 2014-15 net profit of $A15m, down from $A16.7m previously. Earnings for the current year are expected to be reduced by about $A1.5m due to a frozen berries product recall arising from a hepatitis A scare. CEO Steven Chaur says the group now subjects its berries to a stringent testing regime.

CORPORATES
PATTIES FOODS LIMITED – ASX PFL, NANNA’S, CREATIVE GOURMET, FOUR ‘N TWENTY PIES

Low-carb beer drinkers not in it for their waistlines

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 3-Jun-15

A Roy Morgan Single Source survey has found that 8.5 per cent of Australians aged 18+ drink low-carb beer in an average four weeks in 2015, compared with almost 11 per cent in 2011 and just 1.6 per cent in 2006. Low-carb beer consumers now comprise almost 25 of Australians who drink beer in an average four weeks, compared with three per cent in 2006. The survey also shows that 11 per cent of Western Australians drink low-carb beer in an average four weeks, followed by Queenslanders (10 per cent). Just six per cent of Tasmanians drink low-carb beer.

CORPORATES
ROY MORGAN RESEARCH LIMITED