Metcash stands its ground as share price falls

Original article by Eli Greenblat
The Australian – Page: 19 : 25-Jun-19

Grocery wholesaler Metcash has posted a net profit of $192.8m for the year to 30 April, following a loss of $148.2m previously. The group’s underlying profit was three per cent lower at $210.3m, but revenue increased by 1.8 per cent to $12.7bn. CEO Jeff Adams says Metcash is confident that its restructuring program, which includes further cost reductions, will pay off. Metcash shares fell 9.8 per cent on 24 June, closing at $2.84.

CORPORATES
METCASH LIMITED – ASX MTS, COLES GROUP LIMITED – ASX COL, WOOLWORTHS GROUP LIMITED – ASX WOW

Winha jumps 40pc on debut

Original article by
The Australian – Page: 21 : 6-Jan-17

Winha Commerce & Trade International had a spectacular debut on the Australian stock exchange on 5 January 2017, closing at $A0.49 or 40 per cent above the issue price of $A0.35 a share. The Chinese-based food retailer raised $A8.5 million through the float. The funds will be used to buy 49 per cent of Melbourne-based wholesaler Flavours.

CORPORATES
WINHA COMMERCE AND TRADE INTERNATIONAL LIMITED – ASX WQW, FLAVOURS PTY LTD

Metcash warns on profit growth

Original article by Sue Mitchell
The Australian Financial Review – Page: 11 & 17 : 2-Dec-14

Listed grocery wholesaler Metcash has reported a 2014-15 interim underlying net profit of $A101.7m, which is nine per cent lower than previously. It has advised that full-year EBIT is likely to be within the range of $A315m to $A330m. CEO Ian Morrice says the initial results of the group’s five-year turnaround plan have been encouraging, but he has indicated that the group may not achieve its goal of resuming profit growth in 2016

CORPORATES
METCASH LIMITED – ASX MTS, INDEPENDENT GROCERS OF AUSTRALIA, SUPA IGA, CITIGROUP PTY LTD, DEUTSCHE BANK AG, WOOLWORTHS LIMITED – ASX WOW, COLES GROUP LIMITED, WESFARMERS LIMITED – ASX WES, ALDI STORES SUPERMARKETS PTY LTD, DANKS HOLDINGS LIMITED

Rinehart to milk China’s dairy fix

Original article by Rick Wallace
The Australian – Page: 9 : 14-Nov-14

The new Hope Dairies joint venture is being launched by government enterprise China National Machinery Industry Corporation and Hancock Prospecting, the main vehicle of Australian mining heiress Gina Rinehart. The $A500m business will seek to cash in on the recently negotiated free trade agreement between Australia and China, by exporting powdered infant formula. Rinehart has also diversified from iron ore into beef cattle, with investments in Western Australia

CORPORATES
HANCOCK PROSPECTING PTY LTD, HOPE DAIRIES PTY LTD, CHINA NATIONAL MACHINERY INDUSTRY CORPORATION, CUBBIE STATION, QUEENSLAND. DEPT OF THE PREMIER AND CABINET, BEIJING AGRICULTURAL INVESTMENT FUND

George Weston Foods hungry for acquisitions

Original article by Sue Mitchell
The Australian Financial Review – Page: 15 : 11-Nov-14

George Weston Foods boasts a 34 per cent share of Australia’s packaged bread market, and CEO Andrew Reeves says it aims to topple market leader Goodman Fielder. George Weston has ramped up its marketing activities in the last several years and reduced its production and distribution costs. Reeves says the group will consider growth options such as joint ventures or acquisitions in sector such as specialty and artisan breads

CORPORATES
GEORGE WESTON FOODS LIMITED, ASSOCIATED BRITISH FOODS PLC, GOODMAN FIELDER LIMITED – ASX GFF, WILMAR INTERNATIONAL LIMITED, FIRST PACIFIC COMPANY LIMITED, TIP TOP BAKERIES, PRIMARK STORES LIMITED, AB MAURI, LION PTY LTD, COCA-COLA AMATIL LIMITED – ASX CCL

Aussie wine is a hard sell in China

Original article by Andrew Burrell
The Australian – Page: 19 : 12-Aug-14

Resources entrepreneur Andrew Forrest has launched a new push to boost agricultural exports by Australian producers to China. However Rathbone Wine Group MD Darren Rathbone warns that in his experience there is a significant and lengthy effort needed to gain entry into the Chinese market, and the strategy may not save the struggling wine industry in Australia from further business collapses. Rathbone has established his own distribution network for the Yering Station, Mount Langi Ghiran and Xanadu brands, but says Chinese wine consumers still prefer French labels due to the perceived prestige

CORPORATES
RATHBONE WINE GROUP PTY LTD, YERING ESTATE PTY LTD, MOUNT LANGI GHIRAN ESTATE, XANADU WINES PTY LTD, NUFARM LIMITED – ASX NUF, LVMH MOET HENNESSY LOUIS VUITTON SA, GUCCI GROUP NV

Forrest outed as loan friend of farmers

Original article by Andrew Burrell
The Australian – Page: 17 : 1-Aug-14

Fortescue Metals Group chair Andrew Forrest has been revealed as the source of no-interest loans made to drought-affected farmers in the Wheatbelt region of Western Australia (WA) during 2010. The well-known philanthropist has since also set up the Australia-Sino 100-Year Agricultural & Food Partnership scheme, which aims to strengthen the ties between local producers and Chinese food companies such as New Hope Group and Wilmar International. Forrest is optimistic Australia can become an even greater supplier of rural commodity exports to China. He has acquired WA meat processing market leader Harvey Beef for $A30m

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG, HARVEY BEEF, GROUP OF TWENTY (G-20), NEW HOPE GROUP, WILMAR INTERNATIONAL LIMITED, GOODMAN FIELDER LIMITED – ASX GFF, MEAT AND LIVESTOCK AUSTRALIA LIMITED, WESFARMERS LIMITED – ASX WES, AUSTRALIAN AGRICULTURAL COMPANY LIMITED – ASX AAC, AUSTRALIA. DEPT OF AGRICULTURE, MINDEROO PTY LTD, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO