Author: roymorgansocial

Whistleblower embroils Eels in fresh NRL salary cap claims

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Original article by Nick Tabakoff
The Australian – Page: 1 & 4 : 21-Aug-18

New South Wales Gaming and Racing Minister Paul Toole has confirmed that he is aware of allegations that the Parramatta Eels have again breached the National Rugby League’s salary cap. The allegations have been made by an unknown former Parramatta executive, and relate to claims that the club has been providing some players with free or significantly discounted rental properties in the local area. The allegations come just two years after the Eels were severely penalised for a previous salary cap breach.

CORPORATES
NEW SOUTH WALES. DEPT OF GAMING AND RACING, PARRAMATTA EELS, NATIONAL RUGBY LEAGUE

Woolworths strikes new EBA deal

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Original article by David Marin-Guzman
The Australian Financial Review – Page: 9 : 21-Aug-18

The take-home pay of current Woolworths employees will not be affected by a new enterprise bargaining agreement that has been struck with the Shop, Distributive & Allied Employees’ Association. Employees will receive the full penalty rates and casual loading rates of the retail industry award, although "loaded" base rates will be reduced. The new EBA also includes an employee bonus of up to $1,100 dollars. Retail & Fast Food Workers Union secretary Josh Cullinan claims that Woolworths employees are collectively owed about $1bn under the previous EBA.

CORPORATES
WOOLWORTHS GROUP LIMITED – ASX WOW, SHOP, DISTRIBUTIVE AND ALLIED EMPLOYEES’ ASSOCIATION, RETAIL AND FAST FOOD WORKERS UNION INCORPORATED, COLES SUPERMARKETS AUSTRALIA PTY LTD, AUSTRALIA. FAIR WORK COMMISSION

Outdoor advertiser reaps growth rewards

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Original article by Stephen Brook
The Australian – Page: 27 : 21-Aug-18

Australian-listed oOh! Media has posted a 2018 interim net profit of $9.2m, which is three per cent higher than previously. The outdoor advertising group’s EBIT was up 11 per cent at $37.9m and revenue increased by 11 per cent to $192m. CEO Brendon Cook says oOh! Media will ramp up its investment in digital billboards and an online trading platform as part of its growth strategy. Shareholders will receive a fully franked interim dividend of $0.035 per share.

CORPORATES
OOH!MEDIA LIMITED – ASX OML, ADSHEL PTY LTD, HT&E LIMITED – ASX HT1, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, JUNKEE MEDIA PTY LTD, APN OUTDOOR GROUP LIMITED – ASX APO, JC DECAUX SA, QANTAS AIRWAYS LIMITED – ASX QAN

Fortescue delivers payday to Forrest

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Original article by Matt Chambers
The Australian – Page: 20 : 21-Aug-18

Fortescue Metals Group chairman and founder Andrew Forrest will be paid a total of $239m in dividend payments for the 2017-18 financial year. Forrest has received total franked dividend payments of $1.3bn before tax since 2011, with the bulk of these dividends being invested in his philanthropic organisation, the Minderoo Foundation. His 33.36 per cent stake in Fortescue is worth $4.33bn, based on the stock’s closing price of $4.26 on 20 August.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, MINDEROO FOUNDATION, AUSTRALIAN INDUSTRIAL ENERGY, SQUADRON ENERGY, HOEGH LNG

PM braces for challenge

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Original article by Simon Benson, Geoff Chambers, Dennis Shanahan, Greg Brown, Jared Owens
The Australian – Page: 1 & 7 : 21-Aug-18

Supporters of Prime Minister Malcolm Turnbull believe that he has sufficient numbers in the Liberals’ partyroom to retain the leadership if it is forced to a vote. However, Turnbull is said to have lost the support of half of the Liberal members of cabinet; they are now prepared to back Peter Dutton, as are up to six members of the outer ministry. Turnbull’s backdown on the national energy guarantee has prompted speculation that there could be a leadership spill when Parliament sits in September.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, LIBERAL PARTY OF AUSTRALIA, LIBERAL-NATIONAL PARTY OF QUEENSLAND, AUSTRALIA. DEPT OF HOME AFFAIRS, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF EDUCATION AND TRAINING, PACIFIC ISLANDS FORUM

McGrath writes off all goodwill

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Original article by Su-Lin Tan
The Australian Financial Review – Page: 35 : 21-Aug-18

Listed real estate agency McGrath has reported a net loss of $63 million for 2017-18, which includes an impairment expense of $59 million after writing off its entire goodwill. McGrath recorded EBITDA of $1 million, while revenue fell by 23 per cent to $99 million. Its full-year fees from property management were down, with the number of properties managed by company-owned agencies declining from 7,463 to 7,215.

CORPORATES
McGRATH LIMITED – ASX MEA

Dutton breach deepens Lib crisis

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Original article by David Crowe
The Age – Page: 1 : 21-Aug-18

Doubts have emerged about the eligibility of Home Affairs Minister Peter Dutton to be in Parliament, amid speculation that he could challenge the leadership of Prime Minister Malcolm Turnbull. Dutton is a beneficiary of a family trust that owns two childcare centres; they receive direct subsidies from the federal government under rules that took effect in July. The Constitution prohibits MPs from having a pecuniary interest in a government contract, and constitutional law expert Professor Anne Twomey says the question of whether Dutton would face disqualification is "borderline". A spokesperson says legal advice suggests that Dutton is not in breach of the Constitution.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF HOME AFFAIRS, LIBERAL PARTY OF AUSTRALIA, UNIVERSITY OF SYDNEY, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, AGL ENERGY LIMITED – ASX AGL

Client Liaison puts on iconic Expo Liaison performance in Melbourne with John Farnham stealing the show. Brisbane & Sydney shows to come

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Original article by Roy Morgan
Market Research Update – Page: Online : 21-Aug-18

Aussie synth popstars Client Liaison performed to a crowd of over 3,000 dedicated fans at Melbourne’s Flemington race course on Saturday night with a special performance by "Whispering Jack" John Farnham adding to the occasion. Farnham brought the house down with his favourites Pressure Down, Age of Reason and You’re The Voice but the real stars of the show were Client Liaison lead singer Monte Morgan and keyboardist Harvey Miller. Morgan was dressed in a see-through blue raincoat as the band and the thousands of fans braved a wild night of wind and rain in Melbourne to put on a spectacular performance featuring red flames mixed with scantily clad dancers. Client Liaison closed out the set with their disco hit Off White Limousine. Client Liaison now travels with "Farnsey" up north for shows this weekend in Sydney (Saturday August 25) and Brisbane (Sunday August 26). Contact Roy Morgan for discounted tickets for the two shows. See here: http://www.clientliaison.com

CORPORATES

Music to the ears of investors as the beats go on

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Original article by David Rogers
The Australian – Page: 27 : 21-Aug-18

The August corporate reporting season in Australia has generally been positive, with about half the companies that have reported to date announcing earnings and dividend payouts that met expectations. This has been reflected in share prices, with stocks that have beaten expectations rising by 2.8 per cent on average and those that failed to do so tending to fall by around three per cent. However, Jason Steed of JP Morgan notes that earnings per share forecasts have been downgraded for 29 per cent of stocks, while just nine per cent have been upgraded.

CORPORATES
JP MORGAN AUSTRALIA LIMITED, DEUTSCHE BANK AG, MORGAN STANLEY AUSTRALIA LIMITED, BRAMBLES LIMITED – ASX BXB, COLLECTION HOUSE LIMITED – ASX CLH, ARB CORPORATION LIMITED – ASX ARB, COCA-COLA AMATIL LIMITED – ASX CCL, STANDARD AND POOR’S ASX 200 INDEX, RIO TINTO LIMITED – ASX RIO, AGL ENERGY LIMITED – ASX AGL, CHALLENGER LIMITED – ASX CGF, MINERAL RESOURCES LIHIR PTY LTD, PACT GROUP HOLDINGS LIMITED – ASX PGH, COCHLEAR LIMITED – ASX COH, DOMINO’S PIZZA ENTERPRISES LIMITED – ASX DMP, SEEK LIMITED – ASX SEK, ANSELL LIMITED – ASX ANN

Fortescue chair Forrest’s dividend hit

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Original article by Peter Ker
The Australian Financial Review – Page: 18 : 20-Aug-18

Fortescue Metals Group posted a net profit of $US2.09bn in 2016-17, but the consensus of analysts is that its profit for 2017-18 will be around 49 per cent lower. JPMorgan is more bearish, forecasting that Fortescue’s net profit could fall by up to 59 per cent to just $US856m. The firm expects Fortescue to announce a full-year dividend of $0.20 per share, following an interim dividend of $0.11. Company founder and chairman Andrew Forrest received $467m worth of dividend payments in 2016-17, but this could fall to just $207.7m in 2017-18 based on JPMorgan’s numbers.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, JP MORGAN AUSTRALIA LIMITED, GLENCORE PLC, WHITEHAVEN COAL LIMITED – ASX WHC, MINERAL RESOURCES LIMITED – ASX MIN, EVOLUTION MINING LIMITED – ASX EVN, NORTHERN STAR RESOURCES LIMITED – ASX NST, HANCOCK PROSPECTING PTY LTD