BUSINESS FORECASTING – AUSTRALIA

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

Sonic hit by Medicare co-payment concerns

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Original article by Jessica Gardner
The Australian Financial Review – Page: 19 : 18-Feb-15

Sonic Healthcare has posted a 2014-15 interim profit of $A174m, which is 1.9 per cent lower than previously. EBITDA of $A344m was in line with the previous corresponding period, but CEO Colin Goldschmidt anticipates full-year growth of 2-4 per cent. He notes that uncertainty about Medicare co-payments affected the group’s pathology business in the first half. Sonic shares closed 0.2 per cent lower at $A18.91 on 17 February 2015

CORPORATES
SONIC HEALTHCARE LIMITED – ASX SHL, INDEPENDENT PRACTITIONER NETWORK LIMITED, MEDIBANK PRIVATE LIMITED – ASX MPL, AUSTRALIA. DEPT OF HUMAN SERVICES. MEDICARE AUSTRALIA, AUSTRALIAN ETHICAL INVESTMENT LIMITED – ASX AEF

Good news expected for Macquarie Group

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Original article by Joyce Moullakis
The Australian Financial Review – Page: 21 : 17-Feb-15

Macquarie Group is tipped to post a 2014-15 profit of $A1.46bn, and there has been speculation that the group could again upgrade its earnings forecast. Macquarie upgraded its full-year earnings guidance in January, due to factors such as the lower Australian dollar and a high level of volatility in commodity prices. Macquarie posted a profit of $A1.27bn for the year to 31 March 2014. Its shares have gained 17.5 per cent so far in 2015

CORPORATES
MACQUARIE GROUP LIMITED – ASX MQG, MORGAN STANLEY AUSTRALIA LIMITED, MACQUARIE PRIVATE WEALTH MANAGEMENT PTY LTD, STANDARD AND POOR’S ASX 200 FINANCIALS INDEX, ARNHEM INVESTMENT MANAGEMENT PTY LTD, GE CAPITAL CORPORATION, JEFFERIES LLC, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Telstra chief hopeful that pay TV market will reach 70 per cent

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Original article by Max Mason, Dominic White
The Australian Financial Review – Page: 30 : 16-Feb-15

Just 30 per cent of Australian households currently have access to subscription-based TV. Telstra CEO David Thodey is optimistic about the outlook for the sector, forecasting that the launch of video streaming services will lift market penetration to around 70 per cent. Thodey expects US-based Netflix, which will formally enter the Australian market in March 2015, will eventually introduce advertisements. He also refutes suggestions that Telstra will scrap its T-Box device

CORPORATES
TELSTRA CORPORATION LIMITED – ASX TLS, NETFLIX INCORPORATED, FOXTEL MANAGEMENT PTY LTD, SEVEN WEST MEDIA LIMITED – ASX SWM, FETCHTV PTY LTD, STAN, PRESTO ENTERTAINMENT PTY LTD, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ

Stokes’ Seven may face $1 billion writedown

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Original article by Dominic White
The Australian Financial Review – Page: 29 : 16-Feb-15

Analysts expect Seven West Media to post a 2014-15 interim net profit of about $A207m. However, there is speculation that the media group could write down the carrying value of its assets by at least $A1bn when its half-year results are released on 18 February 2015. Seven’s net assets were valued at $A2.9bn in June 2014, but a sharp fall in its share price in the last 12 months has reduced its market capitalisation to $A1.43bn

CORPORATES
SEVEN WEST MEDIA LIMITED – ASX SWM, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, TEN NETWORK HOLDINGS LIMITED – ASX TEN, NINE NETWORK AUSTRALIA LIMITED, CITIGROUP PTY LTD, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

Roy Hill delays put schedule in doubt

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Original article by Tess Ingram
The Australian Financial Review – Page: 15 : 16-Feb-15

The Roy Hill iron ore project in Western Australia is slated to commence shipments in September 2015. However, CEO Barry Fitzgerald has conceded that some elements of the $A10bn project have been hit by delays. A series of safety problems since mid-2014 have contributed to the delays, and some analysts believe that the project will not reach full capacity for some time

CORPORATES
ROY HILL HOLDINGS PTY LTD, WESTERN AUSTRALIA. DEPT OF MINES AND PETROLEUM, PATERSONS SECURITIES LIMITED, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES

South32 to ‘walk before it can run’

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Original article by James Chessell
The Australian Financial Review – Page: 13 & 18 : 16-Feb-15

Analysts estimate that South32 will have a market capitalisation of between $A11bn and $A15bn when it lists on the Australian sharemarket in mid-2015. CEO Graham Kerr says that maximising the group’s existing projects and reducing costs will be its main focus at first, rather than acquisitions. However, Paul Young of Deutsche Bank believes that the BHP Billiton spin-off will have to pursue acquisitions, as its scope for organic growth is limited

CORPORATES
SOUTH32 LIMITED, BHP BILLITON LIMITED – ASX BHP, DEUTSCHE BANK AG, RIO TINTO LIMITED – ASX RIO, MACQUARIE GROUP LIMITED – ASX MQG, GLENCORE PLC

Housing underpins leap in Stockland’s interim profit

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Original article by Robert Harley, Mercedes Ruehl
The Australian Financial Review – Page: 37 : 12-Feb-15

Listed property developer Stockland has posted a 2014-15 interim statutory profit of $A462m, which is 55 per cent higher than previously. The group’s residential development arm recorded a 72.8 per cent increase in operating profit, and MD Mark Steinert is upbeat about the outlook for the residential sector in the next several years. Stockland’s shares closed $A0.13 higher at $A4.73 on 11 February 2015

CORPORATES
STOCKLAND – ASX SGP, AUSTRALAND PROPERTY GROUP

Constructive tactics pay dividends

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Original article by Jenny Wiggins
The Australian Financial Review – Page: 27 : 12-Feb-15

Australian construction group Leighton Holdings has posted a net profit of $A676.5m for the 2014 calendar year, which is 33 per cent higher than previously. The group expects its net profit for 2015 to be within the range of $A450m and $A520m. Shareholders will receive a final dividend of $A0.53 per share, plus a special dividend of $A0.15 following the sale of the John Holland business for $A1.1bn

CORPORATES
LEIGHTON HOLDINGS LIMITED – ASX LEI, JOHN HOLLAND PTY LTD, HOCHTIEF AG, GRUPO ACS, CHEVRON CORPORATION, AL HABTOOR LEIGHTON GROUP, CITIGROUP PTY LTD, FLEETCO

Domino’s eyes rivals as pizza sales sizzle

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Original article by Sue Mitchell
The Australian Financial Review – Page: 21 & 26 : 12-Feb-15

Domino’s Pizza Enterprises has posted a 2014-15 interim net profit of $A29.1m, which is 44.2 per cent higher than previously. Revenue rose by 29.5 per cent to $A343.6m during the half-year. CEO Don Meij forecasts that net profit and EBITDA for the full year will rise by 32.5 per cent and 30 per cent respectively. He says Domino’s will aim to increase its share of Australia’s overall fast-food market from eight per cent at present. It has a 25 per cent share of the pizza sector

CORPORATES
DOMINO’S PIZZA ENTERPRISES LIMITED – ASX DMP, McDONALD’S AUSTRALIA LIMITED, KFC