Author: roymorgansocial

High-rollers lift Crown’s earnings

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Original article by Jessica Gardner, Vanessa Desloires
The Australian Financial Review – Page: 13 & 20 : 20-Feb-15

Australian-listed Crown Resorts has posted a 2014-15 interim statutory net profit of $A201.8m, which is 47.2 per cent lower than previously. The result was marred by write-downs totalling $A61.3m and a downturn in gambling activity in Macau. Normalised net profit of $A322m was 2.3 per cent higher and normalised revenue of $A1.7bn was up 17.2 per cent. Shareholders will receive a half-year dividend of $A0.18 per share

CORPORATES
CROWN RESORTS LIMITED – ASX CWN, CROWN MELBOURNE LIMITED, MELCO CROWN ENTERTAINMENT LIMITED, BLOOMBERG LP, ECHO ENTERTAINMENT GROUP LIMITED – ASX EGP, SKYCITY ENTERTAINMENT GROUP LIMITED – ASX SKC, ARNHEM INVESTMENT MANAGEMENT PTY LTD, CITIGROUP PTY LTD, CONSOLIDATED PRESS HOLDINGS LIMITED

Fairfax unveils buyback surprise

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Original article by Max Mason, Dominic White
The Australian Financial Review – Page: 18 : 20-Feb-15

Australian-listed Fairfax Media has reported a 2014-15 interim underlying net profit of $A86m, which is 0.6 per cent lower than previously. Revenue from operations fell by 12.9 per cent to $A943.3m, while the media group will undertake an on-market share buyback over the next 12 months. It plans to repurchase up to 121 million shares, which equates to five per cent of the stock on issue

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, DOMAIN.COM.AU, CITIGROUP PTY LTD

AMP cautions against new US-style test

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Original article by Ruth Liew
The Australian Financial Review – Page: 17 : 20-Feb-15

AMP CEO Craig Meller says there is widespread acceptance of the need for better standards of education for Australian financial advisers. However, Meller has questioned the need for financial planners to undertake a national exam if they already have a university degree. The Australian Securities & Investments Commission recently proposed an exam system modelled on the Series 7 exam that is used in the US

CORPORATES
AMP LIMITED – ASX AMP, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, BT FINANCIAL GROUP PTY LTD, WESTPAC BANKING CORPORATION – ASX WBC, ST GEORGE BANK LIMITED, BANK OF MELBOURNE LIMITED, BANK OF SOUTH AUSTRALIA LIMITED, FINANCIAL PLANNING ASSOCIATION OF AUSTRALIA LIMITED, FINANCIAL INDUSTRY REGULATORY AUTHORITY INCORPORATED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, MACQUARIE PRIVATE WEALTH MANAGEMENT PTY LTD, MACQUARIE GROUP LIMITED – ASX MQG

Census cost could be better spent, says ABS

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Original article by Jacob Greber
The Australian Financial Review – Page: 8 : 20-Feb-15

The cost of Australia’s 2011 national census is estimated to have exceeded $A400m, prompting the Australian Bureau of Statistics to propose abolishing the next census in 2016. The bureau argues that the cost savings could be used to upgrade its IT systems and undertake annual population surveys with a much smaller sample of respondents. Reducing the frequency of the census from five years to 10 is also believed to be under consideration

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, AUSTRALIAN NATIONAL UNIVERSITY, AUSTRALIAN LABOR PARTY, FAMILY FIRST PARTY AUSTRALIA LIMITED, AUSTRALIA. DEPT OF HUMAN SERVICES. CENTRELINK, AUSTRALIA. DEPT OF HUMAN SERVICES. MEDICARE AUSTRALIA

Foul-mouthed truckie firing ‘unfair’

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Original article by Lucille Keen
The Australian Financial Review – Page: 3 : 20-Feb-15

Australia’s Fair Work Commission (FWC) has upheld an Aussie Waste Management employee’s claim that his dismissal for swearing at the managing director was unlawful. The garbage truck driver was summarily dismissed after using offensive language during a private telephone conversation with the executive. FWC deputy president Nicole Wells noted that swearing in some workplace’s is quite common in 2015, adding that the phone call was private and not overhead by other staff

CORPORATES
AUSTRALIA. FAIR WORK COMMISSION, AUSSIE WASTE MANAGEMENT PTY LTD, AUSTRALIAN HUMAN RESOURCES INSTITUTE, K&L GATES LLP

Roy Morgan Customer Satisfaction Awards: announcing Australia’s retail superstars

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 19-Feb-15

Roy Morgan Research announced the winners of its 2014 Customer Satisfaction Awards for the retail industry on 18 February 2015. David Jones was named the Department Store of the Year, while Target won the award for Discount Department Store of the Year. The Reject Shop won the award for Discount Variety Store of the Year, and The Good Guys took out the award for Furniture/Electrical Store of the Year for a fourth consecutive year

CORPORATES
ROY MORGAN RESEARCH LIMITED, DAVID JONES LIMITED, TARGET AUSTRALIA PTY LTD, THE REJECT SHOP LIMITED – ASX TRS, THE GOOD GUYS, AUTOBARN PTY LTD, GUARDIAN CHEMISTS, SUZANNE GRAE, MICHEL’S PATISSERIE, TRUE VALUE HARDWARE LIMITED, DYMOCKS PTY LTD, CRUST GOURMET PIZZA BAR PTY LTD, GULL PETROLEUM PTY LTD, BETTS AND BETTS PTY LTD, BETTS KIDS, SPORTSPOWER, ALDI STORES SUPERMARKETS PTY LTD

Roy Morgan announces 2014 winners of Banking and Finance Satisfaction Awards

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Original article by Roy Morgan Research
Market Research Update – Page: Online : 19-Feb-15

Roy Morgan Research announced the winners of its 2014 Customer Satisfaction Awards for the banking and finance industry on 18 February 2015. P&N Bank was named the Bank of the Year, while the Commonwealth Bank won the award for Major Bank of the Year. Bendigo Bank was named the Business Bank of the Year, Defence Service Homes Insurance took out the award for General Insurer of the Year and ESSSuper received the award for Industry Superannuation Fund of the Year

CORPORATES
ROY MORGAN RESEARCH LIMITED, P&N BANK, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, BENDIGO BANK, BENDIGO AND ADELAIDE BANK LIMITED – ASX BEN, DEFENCE SERVICE HOMES INSURANCE SCHEME, ESSSUPER, GREATER BUILDING SOCIETY LIMITED, PEOPLE’S CHOICE CREDIT UNION, CBHS FRIENDLY SOCIETY LIMITED, INSURANCELINE HOLDINGS PTY LTD, NRMA LIMITED, REST SUPER PTY LTD, WESTPAC BANKING CORPORATION – ASX WBC, PLUM FINANCIAL SERVICES LIMITED

Berry ‘poo’ scandal splits Abbott, Joyce

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Original article by Joanna Mather
The Australian Financial Review – Page: 10 : 19-Feb-15

Prime Minister Tony Abbott and Agriculture Minister Barnaby Jones disagree on product labelling rules. Joyce believes that stricter rules are necessary to protect consumers from health hazards. At least 11 Australians have contracted hepatitis after eating imported Chinese berries. Abbott opposes new regulations because they would lead to a greater bureaucratic burden for companies and higher prices for consumers

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF AGRICULTURE, PATTIES FOODS LIMITED – ASX PFL, AUSTRALIAN BROADCASTING CORPORATION, NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC

ACCC endorses $13b power sale

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Original article by Will Glasgow
The Australian Financial Review – Page: 9 : 19-Feb-15

The Australian Competition & Consumer Commission (ACCC) has no objections to the New South Government’ plans to partially lease the state’s electricity network. The Government wants to offer 99-year leases, which would cover 49 per cent of the state’s electricity and distribution businesses. ACCC chairman Rod Sims said on 18 February 2015 that the initiative would result in lower prices for households

CORPORATES
AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, NEW SOUTH WALES. DEPT OF PREMIER AND CABINET, AUSTRALIAN ENERGY REGULATOR, FAIRFAX MEDIA LIMITED – ASX FXJ, IPSOS AUSTRALIA PTY LTD, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY

Seven West ‘well placed’ to recover despite $1bn write-down

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Original article by Dominic White
The Australian Financial Review – Page: 21 & 26 : 19-Feb-15

Seven West Media has posted a 2014-15 interim net loss of $A994m. The result was marred by writedowns totalling $A1bn, including goodwill associated with its TV and print media assets. The group’s underlying net profit fell by 8.4 per cent to $A137.5m, with revenue totalling $A943m. Seven West’s TV business posted revenue of $A677m, which is one per cent lower than previously. Seven West anticipates an upturn in TV advertising revenue in the second half of 2014-15

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, SEVEN NETWORK LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, TEN NETWORK HOLDINGS LIMITED – ASX TEN, BLOOMBERG LP, SEVEN GROUP HOLDINGS LIMITED – ASX SVW, PACIFIC MAGAZINES PTY LTD, YAHOO!7 COMMUNICATIONS AUSTRALIA PTY LTD